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Episode 232 - SBF's Ineffective Altruism (w/ Teddy Schleifer) (Patreon)

Published:
2022-12-05 07:39:28
Imported:
2026-06
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Content

This week, Briahna speaks to Teddy Schleifer, a journalist who covers Silicon Valley billionaires for Puck News, about Sam Bankman-Fried, the collapse of his crypto exchange FTX, and his obsession with media. Why does he keep exposing himself via high profile interviews (and DM exchanges) that amount to free depositions for the SEC and DOJ -- both of whom are investigating him? Was his emphasis on "effective altruism" part of his effort to charm the media into seeing him as a good faith actor in an unregulated financial sector primed for fraud? Is it possible to be a "good billionaire?" This conversation took a philosophical turn. Come for a play by play of his NYT DealBook interview, stay for a materialist analysis of billionaire philanthropy.

Subscribe to Bad Faith on YouTube for video of this episode. Find Bad Faith on Twitter (@badfaithpod) and Instagram (@badfaithpod).

Produced by Armand Aviram.

Theme by Nick Thorburn (@nickfromislands).

Comments

Anonymous

Sounds like SBF is not the new JP Morgan, but the new Bernie Madoff.

Anonymous

I'm hearing Teddy's voice, but it sounds like Ryan Grim's voice. I mean, literally, his voice's tone & timbre sounds like Ryan's. Oh, and his rich-splaining for poor, naive SBF sounds like Ryan's excuses & apologies for AOC & the Sheepdog Squad, too.

Anonymous

We don't need more altruistic Billionaires and charities. We shouldn't NEED charities at all. What if SBF took his power and did something about the exploding homeless problem in SanFan? Instead, the Homeless in SanFran get an ARMED Robot Dog Police Squad, and SBF gets Adderall-fueled orgies with other rich sociopaths. This fucker ADMIRES and wants to be a billionaire. He's NOT a reporter. He's a Public Relations douche for the Billionaire Class. Brie did a good job of poking holes in all Teddy's lame a$$ arguments for these sociopathic scumbags.

Cclear

"Neither of us are lawyers." "I am actually". Best part

Mint

Perfect choice for the outro song

Anonymous

This was a cool episode. Gave me some new things to work out in my head. And she used "Little lies" as outro music. My husband and I also chose it as our wedding song. 😅

Jonathan Kadmon

"Publication is called Puck, P-U-C-K, rhymes with many things" LOL

Jonathan Kadmon
>>96952239

I noticed the tone and timbre thing too. Has anyone ever seen those two in the same room together simultaneously? We need some intrepid sleuth to get on this case 😂

Anonymous
>>96952239

They must be different people. There's no way another human could recreate the Kindergartner-Barber hair experiment on Ryan's head! 😉

Jonathan Kadmon

We the MMT fans are also extremely proud of you for that caveat. Also you're right in that point you were making, that is the crux of the issue. These turkeys wield disproportionate power and if you ever look at what they do with that power anyone with common sense is gonna be like "no deal! veto!" and they know it.

...

This guy’s billionaire’s dilemma was like, Either you donate to the Democrats or you keep your money in a mattress.

Michelle B

Effective altruism is bullshit. It's just a way that billionaires can make themselves feel better about taking everyone else's money. There is no difference between this guy and Carnegie and Bill Gates and the rest of the capitalist schmucks who justify the idea that they are somehow magical or better so they should have all of the resources and operate above democracy. Except for the fact that SBF couldn't build something of his life depended on it and basically just created the next Elizabeth Holmes Ponzi scheme. Also, who exactly is pretending that billionaires donating to politicians is charity or that anyone is asking for that. The only people asking for that are people like Nancy Pelosi who want his money. No we don't want you donating to politicians. No one is encouraging them to do that or pretending like we think it's a positive thing. It's not positive. It's corrupt. The framing of this interviewee is awful because he's basically making arguments that no one is making except the ruling class. Also, definitely hope SFB ends up in jail... He's definitely a criminal but also The fact that he helped put on Cuellar and risked women's reproductive rights? Don't give me that bullshit about him being into altruism. He's into self-interest. And much like every other billionaire who extracted capital from the working class, his exchange did exactly that. Except he straight up still it without giving them anything back. He's pure evil. Ben McKenzie is writing a book on this and he's a great interview if you want someone who wants to talk about it accurately instead of through the lens of ruling class corporate speak and billionaire rationalization.

Cclear
>>97012615

Yes it's nothing new. It's the same old "associationalism"