Sam Bankman-Fried - Crypto, Altruism, and Leadership

I flew to the Bahamas to interview <a target="_blank" href="https://twitter.com/SBF_FTX">Sam Bankman-Fried</a>, the CEO of FTX! He talks about FTX’s plan to infiltrate traditional finance, giving $100m this year to AI + pandemic risk, scaling slowly + hiring A-players, and much more.<br/><br/>Watch on <a target="_blank" href="https://youtu.be/5Af0d2DbK5w">YouTube</a>. Listen on <a target="_blank" href="https://podcasts.apple.com/us/podcast/32-sam-bankman-fried-crypto-altruism-and-leadership/id1516093381?i=1000568843669">Apple Podcasts</a>, <a target="_blank" href="https://open.spotify.com/episode/2SXFTjId3fpxmhh3gRkFDI?si=OE2GX1M0SvC-lwOR5qC73A">Spotify</a>, or any other podcast platform.<br/><br/>Episode website + Transcript <a target="_blank" href="https://dwarkeshpatel.com/p/sbf">here</a>.<br/><br/>Follow <a target="_blank" href="https://twitter.com/dwarkesh_sp">me on Twitter</a> for updates on future episodes<br/><br/>Subscribe to find out about future episodes!<br/><br/>Timestamps<br/><br/>(00:18) - How inefficient is the world?<br/><br/>(01:11) - Choosing a career<br/><br/>(04:15) - The difficulty of being a founder<br/><br/>(06:21) - Is effective altruism too narrowminded?<br/><br/>(09:57) - Political giving<br/><br/>(12:55) - FTX Future Fund<br/><br/>(16:41) - Adverse selection in philanthropy<br/><br/>(18:06) - Correlation between different causes<br/><br/>(22:15) - Great founders do difficult things<br/><br/>(25:51) - Pitcher fatigue and the importance of focus<br/><br/>(28:30) - How SBF identifies talent<br/><br/>(31:09) - Why scaling too fast kills companies<br/><br/>(33:51) - The future of crypto<br/><br/>(35:46) - Risk, efficiency, and human discretion in derivatives<br/><br/>(41:00) - Jane Street vs FTX<br/><br/>(41:56) - Conflict of interest between broker and exchange<br/><br/>(42:59) - Bahamas and Charter Cities<br/><br/>(43:47) - SBF’s RAM-skewed mind<br/><br/>Unfortunately, audio quality abruptly drops from 17:50-19:15<br/><br/>Transcript<br/><br/><strong>Dwarkesh Patel</strong> <em>0:09</em><