This blog is not about answering “What happened at FTX” or “Why did SBF do wrong”. The internet is filled with root causes and insightful analyses where opinions are on the entire spectrum from “oh, he was a well-intentioned kid who made innocent mistakes”, “this was the biggest fraud in history”, and “it is a political conspiracy”. Form your own opinions, please. Instead, here are two critical common-sense based insights from the episode1) Low Risk with High Reward is a myth 2) Decentralisat...