AI-generated image of Elizabeth Holmes and Sam Bankman-Fried
Posted: Tue Feb 11, 2025 7:55 am
Much like Theranos, the company was completely unregulated, with no financial oversight or control whatsoever. One investor told Forbes that they only had access to FTX’s balance sheets as part of due diligence, which “seemed fine.”
Once again, it seems that the need to believe in the exciting possibility of the new blinded everyone to the obvious: Bankfield-Fried was gambling in the air.
The cost of skipping steps
The famous saying “fake it till you make it” is not taiyuan mobile number database literal, guys. If your device that is supposed to revolutionize the world of medicine doesn’t work yet, you better not put it on the market or accept millions of dollars from investors. If you have problems with accounting, don’t start an exchange.
The new generations can revolutionize many things and change processes, but some are fundamental and cannot be avoided. Science is slow, it requires trial and error. Dropping out of university does not guarantee you will be the new Steve Jobs. And now we know that taking subjects like “Biomedical Ethics” would not have been a bad thing for Elizabeth Holmes.
I
AI-generated image of Elizabeth Holmes and Sam Bankman-Fried
Financial institutions need to be regulated to prevent collapses like the one that occurred at FTX. An arrogant attitude like that of Sam Bankfield-Fried, who said “Fuck regulators. They make everything so much worse,” is not going to get us very far.
Once again, it seems that the need to believe in the exciting possibility of the new blinded everyone to the obvious: Bankfield-Fried was gambling in the air.
The cost of skipping steps
The famous saying “fake it till you make it” is not taiyuan mobile number database literal, guys. If your device that is supposed to revolutionize the world of medicine doesn’t work yet, you better not put it on the market or accept millions of dollars from investors. If you have problems with accounting, don’t start an exchange.
The new generations can revolutionize many things and change processes, but some are fundamental and cannot be avoided. Science is slow, it requires trial and error. Dropping out of university does not guarantee you will be the new Steve Jobs. And now we know that taking subjects like “Biomedical Ethics” would not have been a bad thing for Elizabeth Holmes.
I
AI-generated image of Elizabeth Holmes and Sam Bankman-Fried
Financial institutions need to be regulated to prevent collapses like the one that occurred at FTX. An arrogant attitude like that of Sam Bankfield-Fried, who said “Fuck regulators. They make everything so much worse,” is not going to get us very far.