Benjamin 🇪🇺Jun 27, 2023
Molly White
so SBF and an attorney:
• falsified a "payment agreement" between FTX & Alameda
• backdated it by ~2y
• wet signed it to avoid DocuSign timestamp
• submitted it to an external auditor
• used it to obtain a $400M funding round
Jun 27, 2023 at 1:14amWeb
Show threadMolly WhiteJun 27, 2023

SBF used customer funds to pay someone $300,000 to "[w]rite a book about how to figure out what humans' utility function is (are)"

i picked the wrong career

Show threadMolly WhiteJun 27, 2023
$400,000 went to a YouTuber who made animated effective altruism videos, which sounds like the most unbearable genre i didn't know existed
Show threadMolly WhiteJun 27, 2023
more than $20 million went from an account with commingled customer funds to Guarding Against Pandemics, the PAC run by SBF's little brother Gabe Bankman-Fried
Show threadMolly WhiteJun 27, 2023
damn, the real estate industry has been friendly to mr. squarepants
Show threadMolly WhiteJun 27, 2023

This is all from the second interim report of John J. Ray III, the CEO appointed to oversee the FTX bankruptcy.

https://www.courtlistener.com/docket/65748821/1704/1/ftx-trading-ltd/

Exhibit A – #1704, Att. #1 in FTX Trading Ltd. (Bankr. D. Del., 22-11068) – CourtListener.com

Exhibit A

CourtListener
Show threadRich Stein (he/him)Jun 27, 2023

@molly0xfff
There has to be an AI link somewhere, because all the problems FTX investments was looking to "solve" will be small potatoes problems for AI. So EA tackling AI is nothing but... more grift.

You and I are both in the wrong business.

Show threadAlexander The 1stJun 27, 2023

@RichStein @molly0xfff Half expecting the AI link looks something like what happened in this case: ( https://youtube.com/watch?v=oqSYljRYDEM&feature=share7 ).

With potential plot twist of - it was the same lawyer.

How to Use ChatGPT to Ruin Your Legal Career

YouTube
Show threadBen RamseyJun 27, 2023
@molly0xfff SpongeCoin
Show threadJ3RN  Jun 27, 2023
@molly0xfff They didn't guard very well, did they?
Show threadMichael GemarJun 27, 2023
@molly0xfff Worst Saturday morning TV EVER.
Show threadRawwwbJun 27, 2023
@molly0xfff The delta between what I thought effective altruism would be, versus what it actually is, was so disappointing for me when I looked into it. It's a good brand name but used to justify awful behavior.
Show threadLarry GarfieldJun 27, 2023
@Rawwwb @molly0xfff My understanding is that it's a real and legit thing, which some (mostly rich) assholes twist into eugenics because that's what rich assholes do.
Show threadDavid GerardJun 27, 2023

@Crell @Rawwwb @molly0xfff it's a good idea they turned into a bad one by doing it extremely hard

and then there's the future robot god to worry about

https://davidgerard.co.uk/blockchain/2023/02/06/ineffective-altruism-ftx-and-the-future-robot-apocalypse/

Show threadLarry GarfieldJun 27, 2023
@davidgerard @Rawwwb @molly0xfff "A good idea turned into a bad one by doing it extremely hard" - I'd say that applies to almost every social movement.
Show threadJeremyJun 27, 2023
@molly0xfff I swear reading this has made me laugh and curse quite a bit.
Show threadJPJun 27, 2023
@molly0xfff oh god was it this shite https://www.youtube.com/watch?v=q9Figerh89g
The Power of Intelligence - An Essay By Eliezer Yudkowsky

YouTube
Show threadJesseJun 27, 2023
@jplebreton @molly0xfff what am I doing with my life
Show threadBrennan StehlingJun 27, 2023
@molly0xfff How about a 3D model of a cat hanging in tree with that caption. You know the one.
Show threadConductorJun 27, 2023
@molly0xfff Seems like a good moment to remind ourselves that effective altruists fancy themselves efficient givers that would never thoughtlessly waste money.
Show threadGemma 👽Jun 27, 2023
@molly0xfff the fun is trying to figure out if these were real endeavours or just funneling money into his own pockets with some made up thing.
Show threadPēteris KrišjānisJun 27, 2023
@molly0xfff "only smart people become rich" 🫣 I want to laugh, but I feel sad inside.
Show threadGayPunkRock 🏳️‍🌈🏳️‍⚧️Jun 27, 2023
@molly0xfff if I just forgo my morals and somehow get a 'rich' and shady to notice me, are u saying I too could get a windfall 🤔
Show threadJkilleleaJun 28, 2023
@molly0xfff how do I move to North Dimension 8738 and do this too?
Show threadMichael GemarJun 27, 2023
@molly0xfff Is that bad? That sounds bad.
Show threadSteve's PlaceJun 27, 2023
@molly0xfff Wow. Clever and stupid at the same time in a comic book evil villain sort of way.
Show threadSteve DavidianJun 27, 2023
@molly0xfff Thank you for this excellent summary. I'm going to follow these steps as best as I can! 😃
Know any "good" lawyers?
Show threadNoah CookJun 27, 2023

@molly0xfff Ironically, government spending is very efficient in part because we can't go "Duuuude, that's blowing my mind but harshing my buzz, here's a few hundred G, go write a book about it and let me chill" (I'm assuming that's how these checks got written?).

And yet I can't help but notice how well represented the "government is hopelessly inefficient" crowd is in the crypto sphere...

Show threadDarryl RammJun 27, 2023
@molly0xfff We have photos of the audit company hard at work skillfully checking on FTX...
Show threadKat O’BrienJun 27, 2023
@molly0xfff welp 😵‍💫