lucybernholzMy latest thoughts on effective altruism, FTX and philanthropy - Fraud for Good
https://philanthropy.blogspot.com/2022/11/fraud-for-good.html
Milena McCartney@p2173 thank you for sharing this. I think the #effectivealtruism used as a #marketing tool by companies has always been a #challenge
AlexaInTheWoods- $32bn #valuation led by 30-year-old MIT graduate #SBF from a flat in #Bahamas
- #bankrupt in days
- $8bn missing customer deposits (shifted to #Alameda…accident)
- no #CorporateGovernance
- loyalty over #competence
- #toxic #workplace
- celebrity endorsement
- too #leveraged
- key #stakeholders: #prosecutors, #regulators, #investors (#lawsuit), #creditors
#Klarna also getting nervous #BNPL (I know, not the same)
#Regulation needed…or let them #fail…?đŸ¤”
@AlexaInTheWoods all true and all too easy. Grifting can be found many places - crypto is current home to captured regulators, grifting founders, philanthropic coverup - its all bad