This week, the renowned writer of “The Big Short,” Michael Lewis, has embarked on an extensive promotional campaign for his latest literary endeavor, chronicling the turbulent odyssey of Sam Bankman-Fried, the beleaguered co-founder and former CEO of FTX. Dubbed “Going Infinite: The Rise and Fall of a New Tycoon,” the tome delves into various chapters of Bankman-Fried’s life, unveiling his conviction that everything is “gamified.”
Michael Lewis Talks FTX Founder on ’60 Minutes’ — Critics Challenge His Perspective
The American author Michael Lewis, celebrated for his books “Moneyball,” “The Blind Side,” “The Big Short,” and “Flash Boys,” is now publicizing his new novel centered on FTX’s Sam Bankman-Fried. Having spent considerable time with Bankman-Fried, Lewis conducted a recent “60 Minutes” interview discussing the protagonist.
During the conversation, Lewis mentions that FTX “actually had a great real business — If no one had ever cast aspersions on the business, if there hadn’t been a run on customer deposits, they’d still be sitting there making tons of money.”
Lewis expounded that Bankman-Fried focused on several crucial aspects including pandemic prevention, effective altruism, and combating factors purportedly endangering democracy.
According to Lewis, Bankman-Fried even contemplated offering Donald Trump $5 billion to bow out of the election. “The number that was kicking around when I was talking to Sam about this was $5 billion,” Lewis said when touching upon the alleged offer.
The writer also observed that during his first television appearance, Bankman-Fried was engrossed in a video game for the duration of the entire interview. Despite embodying a more quirky persona, Lewis further revealed that Bankman-Fried forged a close bond with seven-time Super Bowl champion Tom Brady.
“Brady thought he was just a really interesting person,” maintained Lewis. “I think he liked to hear what he had to say.”
Conversely, numerous viewers disapproved of Lewis’ 60 Minutes interview and expressed disdain for his assertion that FTX operated a thriving, legitimate business. Swan Bitcoin analyst Sam Callahan contended that Lewis “doesn’t seem to understand that FTX was an exchange, not a bank, meaning it was supposed to have its users’ assets backed 1:1 at all times.”
Callahan elaborated:
It shouldn’t matter that there was a ‘run on customer deposits.’ There was not a legitimate business here. It was pure fraud.
Former New York Times writer Alex Berenson branded Lewis’ statements as “insane.” “It’s almost hard to explain just how insane. If Michael Lewis actually believes [Sam Bankman-Fried] is a victim here, I fear he’s suffering from some kind of early-onset dementia. I’m not joking. If he doesn’t, why is he saying it?” Berenson wrote.
When queried about Bankman-Fried’s greatest fear, if sentenced to 100 years behind bars, Lewis divulged that the prospect of losing internet access terrified him most. “I do think that if he had the internet, he could survive jail forever,” the author added.
What do you think about the interview with Michael Lewis and his perspective of Sam Bankman-Fried? Share your thoughts and opinions about this subject in the comments section below.
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