DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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We probably read enough news coverage and extensive editorials on how evil Sam Bankman-Fried was.
The drugs, the scammy behaviours, the grifts, the silly antics and the erratic habits.
But let’s take a different approach here, shall we?
Let’s see if there was any good that SBF did amongst all the muddy, painful, grotesque crap he made.
Was he really a wide-eyed wanderer (with an amazing hairdo) who practised effective altruism and was just really bad at math?
Or was he a scheming, devious criminal mastermind who plotted extensively to defraud investors and tried to hide it all.
Objectively speaking, was he a good businessman?
He did raise FTX from a fledgling crypto exchange into a sidewalk-cracking behemoth.
He did hustle and turned FTX into a $32B empire that probably made all his investors very, very wealthy (on paper).
When the price of FTT kept climbing, everyone who had FTT was smiling.
He also cofounded Alameda Research, which managed billions and was the talk of the town for all the profits they made, even during crypto winter.
Sam’s personal net worth blossomed to $16B at its peak.
I want to remind you that he is just 30 years of age in 2022.
Sounds like he really might be the Warren Buffett of Crypto after all.
Hold up.
But then he also went on a podcast and outrightly admitted to running a ponzi business.
“SBF admits he is in the Ponzi business: In April 2022, SBF famously went on the Odd Lots podcast and spoke with the Michael Jordan of finance writing (Matt Levine)…and basically admitted he was in the ponzi business”
He even tried to get into Elon’s Twitter deal.
He wanted to throw in $3–5B to invest in Twitter and Elon said it set off his BS detector.
He was taking drugs to stay extra alert and they more drugs just to fall asleep.
Sounds extremely disturbing.
John Ray III, the new CEO of the bankrupt crypto exchange FTX, said the company had suffered an “unprecedented and complete failure of corporate controls”.
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
FTX used Quickbooks.
That’s what startups used.
Multi-billion dollar empires like FTX should not be using that.
It doesn’t make any sense.
Or was there a possibility that they simply grew too fast and didn’t know how to handle the transition into a giant corporation?
SBF might have done some seriously misguided and downright abhorrent things, but in a weird way, he actually showed some signs of being a good businessman.
Until you realised that all the numbers, revenue, valuation that made us think of him being a great entrepreneur, were made up or stolen from customer deposits.
He was never a good businessman, hell he was never a good person.
The evidence was there, we just didn’t want to see it.
-
Is Sam Bankman-Fried a good businessman?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #sbf #sambankmanfried #hatedperson2022 #ftx #scam #ftt
We probably read enough news coverage and extensive editorials on how evil Sam Bankman-Fried was.
The drugs, the scammy behaviours, the grifts, the silly antics and the erratic habits.
But let’s take a different approach here, shall we?
Let’s see if there was any good that SBF did amongst all the muddy, painful, grotesque crap he made.
Was he really a wide-eyed wanderer (with an amazing hairdo) who practised effective altruism and was just really bad at math?
Or was he a scheming, devious criminal mastermind who plotted extensively to defraud investors and tried to hide it all.
Objectively speaking, was he a good businessman?
He did raise FTX from a fledgling crypto exchange into a sidewalk-cracking behemoth.
He did hustle and turned FTX into a $32B empire that probably made all his investors very, very wealthy (on paper).
When the price of FTT kept climbing, everyone who had FTT was smiling.
He also cofounded Alameda Research, which managed billions and was the talk of the town for all the profits they made, even during crypto winter.
Sam’s personal net worth blossomed to $16B at its peak.
I want to remind you that he is just 30 years of age in 2022.
Sounds like he really might be the Warren Buffett of Crypto after all.
Hold up.
But then he also went on a podcast and outrightly admitted to running a ponzi business.
“SBF admits he is in the Ponzi business: In April 2022, SBF famously went on the Odd Lots podcast and spoke with the Michael Jordan of finance writing (Matt Levine)…and basically admitted he was in the ponzi business”
He even tried to get into Elon’s Twitter deal.
He wanted to throw in $3–5B to invest in Twitter and Elon said it set off his BS detector.
He was taking drugs to stay extra alert and they more drugs just to fall asleep.
Sounds extremely disturbing.
John Ray III, the new CEO of the bankrupt crypto exchange FTX, said the company had suffered an “unprecedented and complete failure of corporate controls”.
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
FTX used Quickbooks.
That’s what startups used.
Multi-billion dollar empires like FTX should not be using that.
It doesn’t make any sense.
Or was there a possibility that they simply grew too fast and didn’t know how to handle the transition into a giant corporation?
SBF might have done some seriously misguided and downright abhorrent things, but in a weird way, he actually showed some signs of being a good businessman.
Until you realised that all the numbers, revenue, valuation that made us think of him being a great entrepreneur, were made up or stolen from customer deposits.
He was never a good businessman, hell he was never a good person.
The evidence was there, we just didn’t want to see it.
-
Is Sam Bankman-Fried a good businessman?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #sbf #sambankmanfried #hatedperson2022 #ftx #scam #ftt
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