Do You Really Know What FTX Is? No.
FTX is being branded by the press as a sexual cult. But have you seen Samuel Bankman-Fried or Caroline Ellison? Nobody is fucking either of them, the least of which being each other. This aspect of the fantasy is yet another part of the LARP they have created for themselves. They enjoy receiving attention, claiming they’re special. But so far, all of the people being presented to the public by the American press are bad actors, and I do mean actors that lack talent. These people are pathetic.
If you believe FTX is a revolutionary company, you’re a sucker. On the other hand, if you knew this was a fraud and didn’t do anything but tweet about it or talk shit, you’re complicit. These days, you have to take an active position against things which are dangerous for the economy or you’re going to get swallowed up by it. Case in point, people are still fascinated with their desired version of this story and what FTX is.
Do YOU Think FTX Is Sexy?
People would rather that they got snookered by a sophisticated sex cult led by a genius. Rather than people getting taken for a ride by a couple of corrupt compliance attorneys and their arrogant video game loving man-child. You can almost see the collar bruise around Sam’s neck from where his parents keep him tied up like a gimp in their basement digging for eCash rebranded. It’s actually just sad.
But too many thousands of people followed this story and invested parts of their career in covering it so they can’t be the first to say they were dumb. Millions of people directly invested, so they also feel stupid and won’t say anything. Ironically in this case its the institutional investors that are appearing to be the most responsible. They came out and just declared losses. Now of course, they could be overstating.
You Don’t Know What FTX Is…Yet
Whatever you think FTX is, it isn’t what you thought it was.
They’re going to make a Hollywood TV show or two about this now, and nobody will cover the truth. It’s not going to be used as momentum to change anything if it goes in the present direction. That would be a shame. But that’s okay. It’ll just delay the inevitable for Wall Street and the press writ large. Wait & see.
