I cited the transitive property once to transfer credits 4 school systems away. Each school transferred to the next but did not recognize a schools course two schools away. It worked.
I am very impressed by SBF. Pure entertainer, no dull moments when he is around. Posesses the right qualities to be US president, he will have my vote for certain.
The more incompetent people we see in executive level offices, the more it makes society want to completely destroy/overthrow/obliterate the executive level class.
The thing that makes me a lot more angry is criminals feigning ineptitude to get away with it. Doesn't matter for the little guy. If you inadvertently defrauded people by being incompetent at sales tax law, you'd go to prison. Do it at a billion dollar scale and suddenly "see I'm just a big dumb dumb and can't remember things" is enough to get off scot-free. That's not acceptable.
I'm no SBF fan by any means, and I think his actions were wrong.
That being said, not knowing anything at the start about the industry you build a company in yields 0 signal about someone's competence. How much did Brian Chesky know about hospitality or marketplaces before starting Airbnb? The Lyft founders about taxis? Zuck or Page/Brin about ads?
If you dig in his testimony the last two days, his answer when he meanders his way there is he didn’t know for almost everything that went wrong and that he trusted other people like his legal counsel and other employees. He is trying a variation on the Ollie North “I do not recall.” defense but he can’t help himself and keeps on running his mouth - the judge stopped him multiple times during his speechifying and made him just answer questions from his own lawyer.
So I had been flying private jets, buying real estate, giving away millions, living in Bahamas, had a girlfriend even.... and one day it all disappeared!
There are properly run, drama free, organizations in the crypto space, consumers need to choose to use them or ask for the information that would help them choose them. Whether by education or regulatory mandate.
Ultimately we need to continue this trend of shaming specific companies, like FTX and its management, than masquerading that as “crypto”. Just like we do for every other industry.
