New Books in Economics David Morris, "Stealing The Future: Sam Bankman-Fried, Elite Fraud, and the Cult of Techno-Utopia" (Watkins Media, 2025)
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Jan 5, 2026 David Z. Morris, a journalist and author focused on cryptocurrency and fraud, delves into the notorious case of Sam Bankman-Fried. He explores the intertwining ideas of effective altruism and rationalism, revealing how they can justify immoral actions. The conversation highlights the influence of speculative culture in crypto and the dangers of short-term hype. Morris also shares red flags for spotting future frauds, emphasizing the importance of intuition alongside rational thinking. It's a thought-provoking insight into the world of tech elites and their perilous ideologies.
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History Of Tech Frauds Before FTX
- Morris recounts investigating tech frauds like Nikola and Trevor Milton before FTX.
- He says crypto itself isn't inherently fraudulent but creates opportunities for scams.
How FTX Reallocated Customer Funds
- Morris describes how FTX diverted customers' dollars into Alameda for donations and investments.
- He links this to SBF's belief he could better allocate others' money toward future goals.
Techno-Utopianism Justifies Present Tradeoffs
- Techno-utopian narratives connect transhumanist, singularitarian and longtermist ideas.
- These visions prioritize far-future benefits while justifying present-day tradeoffs and investments.
