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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

It was in the Washington Post article about this guy as like, look at this.

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

This is like a noteworthy moment from his career, this like bad joke that he made.

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

But I guess that's what fucking Stanford people find funny.

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

Yeah, I don't get it.

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

Now, everything you find about these people is like, wow.

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

Like, is their friends talking about like, it's so shocking that this could happen.

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

You know, these were like the best people we knew.

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

They were so concerned about ethics.

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

They raised their sons like little adults and they were always talking about utilitarianism.

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

How could this have gone wrong?

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

I don't know.

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

I feel when I read anecdotes about them, like it's pretty obvious why it went wrong.

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

And to kind of make that point, Jamie, here's a quote from an excellent write up by Puck News.

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

Quote, Bankman, who once boasted to a friend that his father had dutifully recorded every cash receipt, wrote three case books on tax shelters and tax evasion, becoming one of the country's leading experts on the subject.

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

One of Bankman's law students in those early years was Peter Thiel, who later told Bankman that his tax law class was his most valuable because he was able to put a lot of his Facebook stock in an IRA, as Bankman would later recall in a podcast.

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

This modest feat of financial engineering would save Thiel more than a billion dollars.

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

So ethics, Jamie!

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

Avoiding a billion dollars in taxes so that Peter Thiel can spend it...

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

Given Joe Swastika money to write New York Times columns on racism.

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

Hooray.