Reed Albergotti of Semafor writes about FTX co-founder Sam Bankman-Fried and why he acquired optimistic information protection in comparison with rival Coinbase CEO Brian Armstrong.
Albergotti writes, “However reporters gave the impression to be enamored with Bankman-Fried.
“He was a public relations pure. He picked up the telephone when reporters known as. He leaked tales. He consistently talked about his plan to offer away nearly all his cash and gave tens of millions to Democrats. He was vegan. He drove a Toyota Corolla. He trash-talked crypto. He later admitted hiding his political donations to Republicans as a result of he knew they wouldn’t go over nicely with reporters. (Are we this straightforward to determine?)
“Bankman-Fried’s well-cultivated persona added sheen to his enterprise. The Wall Road Journal compared Bankman-Fried to Warren Buffett. The Monetary Occasions telegraphed his plans to at some point acquire Goldman Sachs.
“The protection of the 2 CEOs is mostly a microcosm of tech protection at its worst: Reporters at conflict with or enamored by the folks they cowl, and readers paying the value within the type of two-dimensional protection. And what they missed was a distinction between two firms that couldn’t be clearer on reflection.”
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