Comment by spaceman_2020
3 years ago
What was the probability that one of JaneStreet’s alumni, Sam Bankman Fried, would use JaneStreet’s brand name to build up credibility and then pull off the biggest ponzi scheme in human history?
3 years ago
What was the probability that one of JaneStreet’s alumni, Sam Bankman Fried, would use JaneStreet’s brand name to build up credibility and then pull off the biggest ponzi scheme in human history?
Slightly lower than one of MIT's alumni doing the same.
It's telling that Jane Street stayed away from the whole mess despite the connection.
They were happy to trade crypto and provide market making facilities throughout the ordeal.
They only decided to “step back” now that regulators are bringing the hammer down
This wasn’t an innocent bystander firm. They were complicit, either directly or indirectly
Buying prospectors' pyrite for the little it’s worth is different from driving aspiring miners to mountains without food or water.
> use JaneStreet’s brand name to build up credibility
How is that different from bragging that you finished MIT, Harvard, Oxford, you worked at Google or that your startup is in YC.
Well for one, JaneStreet is an active market maker, trader, and investor in crypto, including in many projects created and/or backed by SBF
The fact that JaneStreet hired both SBF and Caroline shows their interview process has a few flaws.
Why? Maybe they were good employees? Just because they did something bad after really isn't thst relevant.
It shows JS doesn’t scan for morality or ethics or judgement.
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