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Jamie Loftus

๐Ÿ‘ค Speaker
4079 total appearances

Appearances Over Time

Podcast Appearances

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

He gave away 50% of his income to his favorite charities, but those charities were mostly the Center for Effective Altruism and $80,000, which is also an effective altruism charity.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

That's a great question, Jamie.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

It allows guys like McCaskill to live very well while also saying they only take $30,000 in salaries and give away the rest because their lives are heavily subsidized by these organizations that allow billionaires to pretend to be heroes.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

So like charity.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Yeah.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

So he remains there happily for years until 2017 when he begins to feel as if something is not right.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Now, spoilers.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

He is having a quarter life crisis.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And this kid absolutely is a con artist.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

And what I am giving you is the polished press friendly version of the story for a guy whose entire life, as far as I can tell, was one long setup for an ambitious con.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

So when I say stuff like he gave a lot of money to charity because there's like other charities he gives to some of which sound like

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

but I have actually no evidence that he did.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Like, I have no evidence that he did, and I haven't seen it.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Oh, okay, one of those.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

So when I say stuff like he felt like that, or when I say stuff like he felt unfulfilled at Jane Street, that doesn't mean he actually did, because we are at present reliant on a lot of reporting from back when this kid was the toast of Wall Street.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

Now, after his life fell apart and his company crashed and it became clear that he was a financial criminal, it also came out that the guy who wrote the big short has been following him for six months.

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

So...

Behind the Bastards
CZM Rewind: How Sam Bankman-Fried Conned the Crypto World & The Sam Bankman-Fried Update

I suspect at some point that's going to be fun.