FTX is a prime example of what’s going on in tech the last couple years. So many people who have NO CLUE what they’re doing, hired by a friend, got handed a hefty 6 figure salary…then watched Netflix and tracked for 2-3 years since Covid started. We all know people who don’t do much and have some fancy made up title, we’re just seeing the repercussions of it all now. Mass layoffs is no surprise…and it’s all admin positions nothing really important.

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Far too many bloated executive titles out there. Middle management layers will probably shrink

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SBF knew exactly what he was doing— he just was so arrogant and blinded by his fame, and everyone around him (including his parents) saying he was a world-changing philanthropist who could do no wrong. Apparently in the financial world there was still A LOT of fraud for SBF to undertake. The more that comes out the more you saw duplicitous accounting, decision-making, etc.

Worst of all I’ve seen nothing from him, forced or otherwise, that shows he has any semblance of remorse or accountability. Hell he may still think he did nothing wrong.

And that’s the danger. Smart young people given keys to a kingdom with no due diligence, no dive into character or integrity, and we let them run multi billion dollar enterprises.

Something needs to give or there will be another SBF in due time ready for the next grift.

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It’s funny to see the memes of the tech wizards who have been on covers of magazines over the years all who have fallen from grace

My how we love to celebrate and idolize our own kind while ignoring how deeply sad and infallible we all are

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