Sam Bankman- Fried's mother once wrote an article.
If the focus was on fixing problems, what would happen?
FTX, a company co-founded by her son, filed for bankruptcy last week.
Following the collapse of FTX, a series of essays written by Sam Bankman- Fried's mother came to light.
Bankman- Fried says he's trying to raise $8 billion to repay customers and FTX's many creditor.
Barbara Fried is a former lawyer who teaches at the law school.
She wrote for the Boston Review, a quarterly political and literary magazine, suggesting that it was time to move past blaming personal blame in times of crisis.
She said that the fact that we have gotten so little in return for our blame mongering opens up the possibility that people would be receptive to a new approach.
Imagine if we asked how to fix the problem instead of asking who is to blame.
Fried wouldn't comment when contacted by Insider.
Bankman- Fried suggested his calls for market regulation were publicity stunts and that he didn't believe his own rhetoric about the need to behave ethically.
Bankman-Fried said that the world is never so black and white. I feel bad for people who were hurt by it.
Fried argued that a better world was possible if we stopped arguing about who is to blame.
A world in which everyone is maximally risk averse is not a world we want to live in, according to the academic.
Fried wrote that instead of trying to change the public understanding of personal responsibility, we can try to change the subject to the collective benefits of fixing the problems we face.
When we think the tools of rational decision making are unreliable,gut feeling may have a role to play in the policy sphere.
We will keep investing in the wrong policies until people are aware of the consequences of their actions.
Fried's writing is related to her family's belief in effective altruism, a movement that uses calculations to understand how people can use their time, money, and resources to best help others, with a focus on the ends of an individual's actions justifying the means of getting there.
Proponents of effective altruism say it can overlook harmful outcomes.
Bankman-Fried's belief in the benefits of Cryptocurrencies has left some wondering if he prioritised the expansion of FTX over other considerations.
Bankman- Fried looked through his downfall through the lens of a calculation, where his efforts added up to bring the company down.
FTX is being investigated by the Securities and Exchange Commission, Commodity futures Trading Commission, and Department of Justice. The SEC is looking into Bankman- Fried.
Billions of dollars' worth of client funds were transferred to Bankman- Fried's trading firm, Alameda Research.
FTX's new CEO John Ray gave a damning assessment of the company under Bankman- Fried, describing a complete failure of corporate controls.
I was one of the greatest fundraisers a month ago. Bankman- Fried said that he was a fallen wreck.
There are people who know what it's like to be fallen and who want to help someone else.
Business Insider has an article on it.
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