OpeningOnion7248 t1_j9r6jd4 wrote
Never understood why such a brilliant guy with top notch legal academic parents could be so stupid.
oldvlognewtricks t1_j9rbutz wrote
Because he’s not actually brilliant.
OpeningOnion7248 t1_j9rcob3 wrote
Well, there an evil genius or laziness about him. I can’t know. But yeah, scumbag city.
JakeArvizu t1_j9s2bqc wrote
Nothing about him seems evil or genius. Just a plane old boring dumbass
OpeningOnion7248 t1_j9s913e wrote
lol. The dude went to MIT and was a math wizard. That said, he built FTX and it was a money machine.
He goofed it up. Had he built a structure with proper controls and departments and corporate governance, then it would have a different outcome
JakeArvizu t1_j9sagmh wrote
> was a math wizard.
And you know that how?
OpeningOnion7248 t1_j9shqaj wrote
Reporting from various sources. Look, I can care less. him and his girlfriend Caroline were math nerds.
JakeArvizu t1_j9slute wrote
Being a math nerd and being considered exceptionally brilliant or a leader in your field are two completely different things. He was no renown scientist, mathematician regarded researcher. He was a dude who went to MIT. Hell his parents were mega rich and politically connected he coulda got in connections for all we know.
It's no difference than Elizabeth Holmes, being smart enough to go to Stanford and being a medically brilliant are completely different. Hence why her professor is literally the one who called her on her bullshit, those are brilliant people.
OpeningOnion7248 t1_j9sndhc wrote
Holmes was a special type of villain. She dropped out of Stanford after bullshitting investors
FTX dude was just a crook
JakeArvizu t1_j9snq7o wrote
Yes but to label him a math wizard is factitious. That's exactly what leads to these scenarios in the first place. Putting these people on some pedestal, with what actual proof or evidence? Because he got a degree from MIT.
OpeningOnion7248 t1_j9so8w3 wrote
He got a degree in physics and minored in math from MIT. It’s arguably the top STEM school in the world. Maybe he thought he was invincible.
His one time girlfriend Caroline, said you only needed basic math to run FTX.
JakeArvizu t1_j9srzhz wrote
Yeah and Trump went to Wharton one of the top business schools in the world.
OpeningOnion7248 t1_j9ss2ju wrote
Trump went to Penn and majored in Econ. Not business. He’s a scumbag too
JakeArvizu t1_j9ssyca wrote
Wharton is Penn's School of Business. Okay would you say he's an economic genius? No lol.
OpeningOnion7248 t1_j9txmwg wrote
Actually his degree is in real estate. He didn’t get a MBA
He’s a developer that took over and expanded his father business.
JakeArvizu t1_j9ucqpe wrote
How is that relevant to my response? I said since Trump got a degree in economics from arguably the top business school in the country does that make him a brilliant economist?
OpeningOnion7248 t1_j9uf9ki wrote
He got a degree in real estate. A bachelor of science.
I’m not really seeing what you’re arguing here. It doesn’t matter if he’s an economic genius.
By the way he spent 2-years at Fordham and the transferred to Penn. I believe he was anthropology major at Fordham.
JakeArvizu t1_j9unrng wrote
> He got a degree in real estate. A bachelor of science.
He literally didn't. He got a B.S in Economics. The PDF straight from Penn's graduation catalog shows that. Source
I am saying by your logic. If the only proof that SBF was a brilliant mathematics wizard is that he went to MIT, then Trump is an economic genius in the likes of Paul Krugman. I don't believe that. Again who is to say he even got into MIT being a genius and not because he was a rich politically connected kid.
OpeningOnion7248 t1_j9urljw wrote
I’m not sure why you’re conflating both.
In this Philly Mag article it states he earned a degree BS in real estate by Ron Ozio media director at Penn.
All graduates from Penn Wharton get a Bachelors is Science in Economics. Trump concentrated in real estate.
https://www.phillymag.com/news/2019/09/14/donald-trump-at-wharton-university-of-pennsylvania/
Long paragraph above Mystery #1
JakeArvizu t1_j9utzk2 wrote
>I’m not sure why you’re conflating both
Because it's the same premise.
Going to an extremely prestigious school means you are exceptionally brilliant in your field.
SBF with MIT.
Trump with Wharton.
Also okay so yes he got a B.S in Economics with a focus in Real Estate. Split hairs if you want that's still not arguing against the premise.
OpeningOnion7248 t1_j9uye0c wrote
The difference is that SBF completed a degree in physics and mathematics. I don’t know about you, but MIT is a difficult school to get admitted, attend, and complete.
Wharton would accept about 40% of applicants in the mid 1960s when he attended. Today it about 7%. Plus he transferred with help of a family friend from Fordham.
So, in the academic achievement field of both, SBF may have an edge over DJT.
Your statement about what said is incorrect. Don’t conflate both arguments.
Both went graduated from prestigious unis and both are alleged to have committed crime or in the process of being investigated.
So, what?
SBF created a crypto exchange. I think that’s difficult to do. Made billions and was allegedly found to be committing irregularities where he’s now being investigated and indicted.
DJT made a lot of money in land and hotel development and got elected president. Both are hard to do.
Who knows if their prestigious degrees led them or helped or caused their success or downfall.
Many of the graduates do similar things in life after graduating from or attending prestigious unis. Some don’t finish, like Bill Gates and Harvard.
Obama went to Columbia and Harvard Law and he became president.
Putin attended Saint Petersburg Mining University, Sgoil 281 (whatever that is). And, there you go.
A degree is not pedigree but it opens opportunities for some.
JakeArvizu t1_j9v0gax wrote
>A degree is not pedigree but it opens opportunities for some.
What does that have to do with anything I said. SBF created a literal scam. Do you know if he programmed FTX? Did he come up with trading algorithms? You do know there was an entire team that was part of FTX he was the CEO doesn't mean he was literally the one who created the website or backend. Did he revolutionize programming like John Carmack.
Your literal only assertion for him being a mathematical genius is that he got a degree from MIT. We already know his parents are mega rich and politically connected. You don't think that could have played a part in him getting accepted to one of the most prestigious schools in the world. That's what my claim is. The dude talks like an absolute idiot and traded like an absolute idiot. Anything quantifiable beyond "he went to MIT" doesn't portray him as a genius like say Steve Wozniak. He's just another financial fraud. Nothing about SBF comes off as a brilliant mind unless you think babbling like an idiot does.
OpeningOnion7248 t1_j9v4r3u wrote
His parents are professor of law at Stanford. Wozniak is Cal Berkeley grad.
Maybe his parent helped him get into MIT by getting him prepared for that like prep school and other activities.
That he babbles or doesn’t code is really not relevant.
Not_invented-Here t1_j9s2oue wrote
Arrogance and ego can massively nerf intelligence.
OpeningOnion7248 t1_j9s9bfa wrote
I agree that was a large part and thinking he could do whatever.
He was a massive barrel of dicks. Now he may do a couple of decades sleeping in a cage.
[deleted] t1_j9r99az wrote
[removed]
yappledapple t1_j9rfe3t wrote
He thought he was a part of Wall Street, instead he was set up to take the fall.
January 26, 2021 Kenneth Griffin and Steve Cohen bail out Gabe Plotkin, to the tune of $2.8 billion after the rise of GME.
https://decrypt.co/55629/you-can-now-trade-gamestop-futures-on-ftx
He announced the GameStop token on Twitter at 4:58 a m. on January 27, 2021.
At 5:12 a.m. Gabe Plotkin claimed to close his short position.
By January 28th GME peaked.
The price of GME plummeted after the release of the token, that was supposed to be backed by shares. As we now know, it was nothing more than a ponzi scheme.
Reddit investors knew Melvin Capital ( Gabe Plotkins hedge fund), simply covered his position using synthetics, but didn't close.
May 18, 2022 Melvin Capital declares bankruptcy.
https://finance.yahoo.com/news/former-hedge-fund-giant-melvin-202818623.html
It's a simplistic version of what happened, and there are several other big players involved.
Hopefully my watered down version makes sense to readers that haven't followed the story, and why investors refuse to sell. Wall Street is nothing more than a Ponzi scheme.
trout_or_dare t1_j9v066w wrote
Bruh you're not going to make those gme losses back just take the L and go touch grass. That's what I did after my 1k loss on that garbage stock.
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