This is a special post for quick takes by Mahendra Prasad. Only they can create top-level comments. Comments here also appear on the Quick Takes page and All Posts page.
Question:
Is blaming EA for FTX like blaming Elie Wiesel for Bernie Madoff?
Background:
Elie Wiesel was a Nobel Peace Prize winner and Holocaust survivor who trusted his personal finances and his foundation's endowment to Bernie Madoff. Wiesel's foundation and personal finances were decimated when Madoff's Ponzi scheme fell apart. Madoff is famous for a Ponzi scheme that destroyed the finances of thousands of investors of tens of billions of dollars.
Question:
Is the analogy apt?
I don't think this is apt. FTX was formed by a team of people who very much seemed to be EA-aligned and EA-inspired at the time of forming. Elie and Madoff had no such connection - Elie's only interaction with Madoff was as a victim.
You can quite reasonably make the claim that EA has very little blame, but certainly if you were going to rank both scenarios, we would at least be somewhat more at fault than Elie was.
I don't think this is apt. FTX was formed by a team of people who very much seemed to be EA-aligned and EA-inspired at the time of forming. Elie and Madoff had no such connection - Elie's only interaction with Madoff was as a victim.
You can quite reasonably make the claim that EA has very little blame, but certainly if you were going to rank both scenarios, we would at least be somewhat more at fault than Elie was.