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Archive of entries posted on 6th November 2023

Enthusiasm powers the world, except when it goes awry — viz Sam Bankman-Fried, et al. Lessons we’ve learned from other awry investments

An old story of mine: When I left Australia in 1966, my boss said “You’re going to love the Americans. Just like you, they substitute enthusiasm for intelligence.” The NYTimes wrote that Sequoia Capital, a top venture firm all but begged Sam Bankman-Fried to take its $214 million during the mad rush when crypto was shiny […]