Within the SBF/FTX saga, there isn’t a scarcity of finger-pointing going round. In his most up-to-date interview, Sam Bankman-Fried denied KNOWINGLY partaking in any fraudulent exercise, suggesting that he was unaware of what was happening with Alameda Analysis, doesn’t know code, and mainly is aware of nothing. Most pundits and speaking heads are pointing fingers on the regulators, who they imagine utterly dropped the ball as regulators have been reactive to crypto as a substitute of proactive and their lack of oversight has supplied a ripe setting for fraudsters, hackers, and unhealthy actors to take full benefit, much like the years within the monetary markets earlier than the creation of the SEC. However investor Chamath Palihapitiya believes the foundation of the issues is the media and the undertone of privilege inside our society. In his All-In Podcast, Chamath gave an emphatic tackle what he sees as the issue, which is the media’s incapability to backtrack and alter the narrative once they know they’ve been fallacious. In Chamath’s view, this isn’t simply an SBF phenomenon, nevertheless it’s a scientific problem that in his estimation, will create extra SBF-type alternatives sooner or later.
Chamath Palihapitiya is a Sri Lankan-born Canadian and American enterprise capitalist, engineer, SPAC sponsor, founder and CEO of Social Capital. Palihapitiya was an early senior government at Fb, working on the firm from 2007 to 2011. Following his departure from Fb, Palihapitiya began his fund, The Social+Capital Partnership, by means of which he invested in a number of corporations, together with Yammer and Slack. He’s a co-host of know-how podcast All In. Chamath has an estimated internet value of round US$1.2 billion, rating him 2,378th within the Forbes record of Billionaires 2021.
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https://www.youtube.com/watch?v=4qOEg4LbdTU&t=23s
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“The Actual Large Drawback No One Is Talking About with FTX” | Chamath Palihapitiya
