Comments by "Jim Luebke" (@jimluebke3869) on "The Full SBF and FTX Fraud Saga | Coffeezilla and Lex Fridman" video.

  1. "As soon as one bad actor gets punished, there's a huge disincentive to act badly" Yeah, it's why the B-52 has only one tail cannon with ten bursts before it runs dry. That's just enough deterrent that it isn't a trivial thing to down them.
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  2. "CZ isn't the straw that broke the camel's back" He was the stray breeze that brought down the house of cards.
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  3. "Can you have enough Tom Brady endorsements so that you don't really investigate?" "4 out of 5 dentists agree" "4 out of 5 doctors agree" "96% of climate scientists agree"
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  4. Has any bright Mechanical Engineering researcher, ever tried to apply Control Theory / feedback principles to our financial regulations? Seems like if we learned more about the mechanics of crashes and fragile financial instruments, we might actually have some better idea of systemic risks.
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  5.  @karenc84121  Doesn't look like it. Financial algorithms are a bit on the sketchy / jury-rigged / simplistic side, compared with engineering models.
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  6. Why is de-risking based only on diversification? Seems like we should investigate how much a given investment is exposed to positive (self-reinforcing) feedback loops, particularly downside feedback loops.
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  7. "Those are the flaps of the butterfly's wings, that's why it's all such a beautiful mess" Very true; on the other hand, today I keep coming back to the idea that we may be able to discover where the feedback loops are more likely to be set off. The snowflake doesn't blame itself for the avalanche, because the height of the snowpack matters, and it's something we can often track.
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  8. "If you're a Sequoia or a Blackrock, wouldn't you do the due diligence [on crypto]?" Only if your preference is to make money. We should consider that the revealed preferences of Sequoia and Blackrock are to gain political power for political ends, such as ESG and DIE.
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  9. "If you're 18, 19, 20 years old, this is basically destroying your life" - if you lose your life savings Wait, Lex, if you lose your life savings at 18 years old, how much are you really losing?
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  10. "Effective altruism is the McDonald's dollar menu of charity"
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  11. "No system saves you from the individual, from their greed or lust for power" Isn't this the core of the Judeo-Christian story? Transformation, redemption, atonement, at the level of the individual human heart, wrestling with the reality of your sins? It enlists each person to attend to whether they are right with God.
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  12. "This is a man whose entire history is about cultivating the right opinions at the right time to achieve the right effect" In other words, he has developed the perfect suite of abilities to thrive in the Woke world. This is what emphasizing The Narrative(TM) or Consensus Reality(TM) over the simple truth, gets you.
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  13. "[The ruddy little ignoramus] had plausible deniability about the death camps" Are you aware of the propensity of subordinates to try to jockey for leadership -- either via impressing current leaders, or via asserting dominance over other ambitious underlings -- by taking leadership's position and driving it to an absurd / atrocious degree? I'm not saying that happened in Germany then, but this is arguably what happened in the upper echelons of the Imperial Japanese.
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  14. "A large number of smart and influential people can all be wrong at the same time" Like the way a lot of smart and influential people don't really have a handle on what computer models are capable of, particularly computer models using massive numbers of chaos-prone convection cells (not to mention a pile of other badly-defined variables) that they're trying to use to predict decades into the future?
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  15. "There's a law, you can't treat creditors differently you have to treat them all the same" Not true in the world of corporate bonds, as far as I've heard. Each set of bonds is an individual contract, with conditions that are frequently unique, and include who gets money first in an unwinding.
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