Review

Comment

23 November 2023

6 min read

Sam Bankman-Fried: doing the math on morality

The calculated character and philanthropy of crypto-criminal Sam Bankman-Fried is analysed by Krish Kandiah, who finds it doesn’t to add up.

Krish Kandiah

Krish is a social entrepreneur partnering across civil society, faith communities, government and philanthropy, He founded The Sanctuary Foundation.

Sam Bankman-Fried at a crypto-conference, 2021.

Cointelegraph, CC BY 3.0, via Wikimedia Commons.

Going Infinite, Michael Lewis’ biography of Sam Bankman-Fried, the world’s youngest self-made billionaire is quite the compelling read.

For a start Lewis has an incredible ability to explain complex economic and business scenarios in a way that is not only accessible, but also gripping. It is no wonder his previous books have been turned into Hollywood blockbusters.

Lewis also has a knack for finding the humanity in almost any given situation. Whether he is writing about the system for picking a world-beating baseball team, the global economic crisis or, in this case, the rise and fall of a cryptocurrency exchange, he delves deep into the characters at the heart of the stories, exposing their strengths and weaknesses, their struggles and values.

The publication of Going Infinite last month also coincided with Bankman-Fried’s real time court case, ending in a guilty verdict for, in the words of US attorney Damian Williams, “one of the biggest financial frauds in American history – a multibillion-dollar scheme designed to make him the king of crypto.”

This fraud centred on Sam Bankman-Fried’s company FTX, a cryptocurrency exchange. It emerged as one of the largest in the world with billions in deposits. All helping Bankman-Fried, aged just 29, to become recognised by Forbes magazine as the 41st richest American.

For all Bankman-Fried’s (and his friends’) talk of altruism, they weren’t very good at being nice to each other.

My personal interest in the man behind the fraud was shaped by three things. Firstly, as an adoptive and foster parent of two children who are on the autistic spectrum, I was interested in what Lewis would say about the common speculation that Bankman-Fried is also on the autistic spectrum.

I was also intrigued by Bankman-Fried’s philosophical approach to philanthropy and how Lewis would present the problems with the movement known as Effective Altruism.

Finally, I was interested in just to what extent Bankman-Fried’s commitment to mathematical algorithms overshadowed his moral awareness, given that it may well ultimately result in a sentence of 100 years behind bars.

Autism

Lewis invites us into as much of the inner world of Bankman-Fried as he can. He writes about his loneliness in childhood and his struggles with social conventions, for example. One particularly powerful moment is when we are allowed to eavesdrop on a video call with Vogue editor Anna Wintour. Bankman-Fried cannot do the call without simultaneously playing a video game. He doesn’t want to see Ms Wintour’s face while she is speaking and only looks at her when he is speaking.

While Lewis readily points to traits that are commonly associated with people on the autistic spectrum – Bankman-Fried’s struggle to comply with social norms and difficulties understanding facial expressions, for example – he avoids using the term “autism”.

It seems that Bankman-Fried himself is aware of his neurodivergent traits and is not afraid to talk about the way they impact his emotional and existential intelligence.

At one point he writes to his girlfriend:

“I don't feel happiness. What's the point in dating someone who you physically can't make happy?"

He went on to say:

“In a lot of ways I don’t really have a soul”

I found statements like these hard to read, but insightful. As a culture we are growing in our understanding and appreciation of a range of areas of diversity, however this has yet to be robustly applied to enable both widespread social acceptance and self-acceptance. The fact that Lewis chooses not to use the term autism may be a symptom of this.

Altruism

Sam Bankman-Fried was a very visible member of the Effective Altruism (EA) movement. EA is a fascinating philosophical approach to philanthropy which challenges individuals to consider their lives in terms of maximising their resources for the benefit of the world. Bankman-Fried’s answer to the question “How can I do most good with my life?” was to plan to earn a very large sum of money, ideally an infinite sum of money, that could then be used to help solve huge global issues such as the threat of nuclear war or another global pandemic.

There are many criticisms of the EA movement, and, Lewis explores several of them during the course of the book. Perhaps most obviously, for all Bankman-Fried’s (and his friends’) talk of altruism, they weren’t very good at being nice to each other. In fact, there was a major falling out between the effective altruists at his first company Alameda Research where half of the employees left because of his leadership style. Charity, it seems, did not begin at home.
It is also unclear how much money Bankman-Fried actually gave away to philanthropic causes. And it is alleged that just a month after FTX collapsed, the company even began trying to claw back the charitable donations it made. According to direct messages on X with journalist Kelsey Piper, Bankman-Fried agreed his ethically-driven approach was "mostly a front".

"Some of this decade's greatest heroes will never be known," he wrote to Piper, "and some of its most beloved people are basically shams."

The quest to do good in the world seemed to have become more like a gambling obsession with Bankman-Fried, a game in which the ends justified the means.

They say the road to hell is paved with good intentions. It is uncertain whether Bankman-Fried had good intentions at all or whether the lure of billions of dollars became so irresistible that whatever virtue once existed was sacrificed to vice.

There was another dark side to Bankman-Fried’s EA philosophy. He seemed to be fascinated by the question of just how far he could go in his calculations of trade-offs and risks in the supposed cause of saving the future of humanity? What was the highest risk he would take? What boundaries would he cross for financial gain? What would need to be sacrificed on the way? The quest to do good in the world seemed to have become more like a gambling obsession with Bankman-Fried, a game in which the ends justified the means.

Automatism

Sam Bankman-Fried was not afraid to be honest about his struggles to process and express empathy in socially acceptable ways. He once said:

"There's a pretty decent argument that my empathy is fake, my feelings are fake, my facial reactions are fake.”

However, what he seemed to struggle with in empathy, he apparently tried to make up for in logic. The following example is helpful.

Lewis records that Bankman-Fried saw Donald Trump as an “existential risk” to democracy and good governance and decided the best way to remove the threat was to offer to pay him not to run for president—an idea Trump was reportedly open to.

“His team had somehow created a back channel into the Trump operation and returned with the not terribly Earth-shattering news that Donald Trump might indeed have his price: $5bn. Or so Sam was told by his team,” Lewis writes.

I have some admiration for Bankman-Fried’s out-of-the-box thinking. He was speaking Trump’s language. He was trying to save the world. He was trying to solve a problem. Logically it was sound. But his $5,000,000,000 calculation was fundamentally flawed. It took no account of democratic values, of the consequences of feeding an ‘existential threat’ billions of dollars, or the illegality of bribery and corruption on that scale.

The same miscalculation haunts the EA movement. While earning infinite amounts of money to save the world or prevent the climate emergency sounds logical, it fails to factor in the dark side of humanity: greed, lust, pride or gluttony, or whichever vice stopped Bankman-Fried from giving away his promised sizeable sum of money and led him rather to committing one of the largest frauds in history. The tech-bro altruistic movement also doesn’t factor in the bright side of humanity: compassion, humility, generosity, sacrifice. It doesn’t account for the human things that keep us going as we pursue justice - proximity to the people we are serving, faith or beauty.

The verdict against Bankman-Fried shows us that hard logic, like lofty ideals, is not enough to protect us from the bad we might do or propel us unswervingly towards the good we should do. The equations are flawed. We are more than machines. We are not social or biological robots. Our emotions and reactions can never be completely predictable or automatic because we are human beings, each of us with our unique strengths and weaknesses.

Ultimately, this is what I liked about Lewis’ book – his portrayal of Sam Bankman-Fried not in terms of how much money he made, or how many years he will spend behind bars, not as Crypto-King or Lord of Frauds, but as a uniquely talented and flawed individual who wrestles with some of the biggest existential paradoxes, and who is still, by the way, only 31 years old.

Article

Comment

9 May 2024

5 min read

Bitterness and weaponised words can’t soften scars

Finding peace for Daniel Anjorin, Salman Rushdie and Bishop Mar Mari.

Krish Kandiah

Krish is a social entrepreneur partnering across civil society, faith communities, government and philanthropy, He founded The Sanctuary Foundation.

A man sits being interviewed and holds a hand to the side of his face, one lens of his glasses is tinted black.

Salman Rushdie discusses his attack.

BBC.

Knife crime around the world is unacceptably high, and with around 50,000 offences expected this year in the UK, it is sadly no surprise when we hear tragic news stories involving knives and sharp instruments. Recently, it was the terrible circumstances of the death of Daniel Anjorin that made the headlines. The gentle, much-loved, 14-year-old boy was on his way to school in East London when he, along with several others, was randomly attacked by a man with a sword. He died from his wounds shortly after being taken to hospital.

I happened to be in the middle of listening to Knife, a memoir by Salman Rushdie, when the news broke of that tragedy. It is another heart-rending story. Rushdie describes how, in 2022, during a speech he was giving about the need to protect writers, a man ran onto the stage and frantically stabbed him 15 times. Rushdie was airlifted to a hospital and survived the attack but lost an eye. Then began his difficult physical and emotional journey towards recovery, documented in the book he never wanted to write.

It was not the first time Rushdie had been the victim of aggression. In 1988, following the publication of his novel The Satanic Verses, the Iranian government called for Rushdie’s death by issuing a fatwa against him. His book was perceived to be blasphemous to the Islamic faith, and despite ten years of round-the-clock police protection in London, he faced several serious assassination attempts.

The fatwa was lifted in 1998, but twenty-four years later, Rushdie was clearly still not safe. He recounts the moment when he saw the man running at him in the darkness as he gave his lecture.

“My first thought when I saw this murderous shape rushing towards me was: So it is you. Here you are…. It struck me as anachronistic. This was my second thought: Why now? Really? It’s been so long. Why now after all these years? Surely the world had moved on, and that subject was closed. Yet here, approaching fast, was a sort of time traveller, a murderous ghost from the past.”

I can’t imagine how I would cope in his shoes. I have not had to experience the daily fear of assassination for decades as Rushdie has. In all my years of delivering speeches and sermons on stages around the world, I have never had cause to even contemplate the possibility of an attempt on my life. Nevertheless, I was surprised to hear in Rushdie’s voice, the words he chose to say to his attacker:

“If I think of you at all in the future it will be with a dismissive shrug. I don't forgive you. I don't not forgive you. You are simply irrelevant to me, and from now on, for the rest of your days, you will be irrelevant to everyone else. I'm glad I have my life and not yours and my life will go on.”

Rushdie admits that his words are his weapons – and he certainly uses them to good effect. They are sharp. They are designed to eviscerate. They are calculated to cause pain. They express derision towards his attacker. Part of me cheers him on: a defenceless man in his seventies who walked into a lecture hall expecting to give a speech to rapturous applause but left barely alive as the victim of a brutal frenzied attack. Like the plot of every action movie I have ever seen, the story seems to have a happy ending – the hero is saved, the bad guy is locked up and justice is seen to be done.

But there is another part of me that knows these Hollywood endings can’t be trusted. Those 27 seconds of violence have clearly left Rushdie reduced to spitting insults at a young man in prison. He claims his life now is “filled with love”, but sadly there is little evidence of it in the way he addresses the radicalised 24-year-old. Bitterness and weaponised words, however eloquent, can’t soften the scars, nor do they make the world a safer place.

Indeed, I have found it difficult to forgive the comparatively trivial experience of being metaphorically stabbed in the back.

I can’t help but compare Rushdie’s reaction with that of Bishop Mar Mari Emanuel. The day before Knife was published, the Iraqi-born bishop was preaching at his church in Sydney, Australia, when he too was attacked by a young man with a knife, and, like Rushdie, ended up losing an eye. The attack was an overt terrorist act against Bishop Mar Mari, a controversial figure who has spoken dismissively about the Islamic, Jewish and LGBTQ+ communities.

Despite the striking similarities between the two men’s terrible ordeals, the contrast in their response couldn’t be starker. Speaking just two weeks later at a Palm Sunday service, Bishop Emanuel affirmed that he had forgiven his teenage assailant:

‘I say to you, my dear, you are my son, and you will always be my son. I will always pray for you. I’ll always wish you nothing but the best. I pray that my Lord and Saviour Jesus Christ of Nazareth, to enlighten your heart and enlighten your soul your entire being to realise, my dear, there is only one God who art in heaven…. the Lord knows it is coming from the bottom of my heart. I’ll always pray for you and for whoever was in this act. In the name of my Jesus, I forgive you. I love you, and I will always pray for you.”

Woven into the fabric of every form of Christianity is a commitment to love and forgiveness, clearly exemplified for us here by Bishop Mar Mari. His words resonated around the world this week as he returned to the pulpit where he was stabbed, bandage over one of his eyes, to speak out with kindness and compassion.

I am deeply challenged by the bishop’s response. I have never experienced the physical pain and emotional trauma of a knife attack. Indeed, I have found it difficult to forgive the comparatively trivial experience of being metaphorically stabbed in the back. I know how hard it is, to be gracious to those who deliberately cause pain to me or to my family members through their actions. Like Rushdie, I sometimes I would like nothing more than to see them locked up, living a loveless, meaningless, irrelevant life. But this is not the Christian way. I follow Jesus who forgave the soldiers driving nails through his hands and feet, so I must strive to be compassionate to those who do us much lesser harm, as well as seek, in his name, to tackle the underlying causes for the greater dis-ease in society.

The issues that lead to knife crime are many and complex. They include poverty, fear of victimisation, gang culture, radicalisation, distrust of authorities, lack of education, experience of violence in childhood, and much more. Whatever we can do to tackle these problems, we do for the sake of love and peace in our world. Perhaps as we seek to overcome these things together, we can work towards a day when what happened to Daniel Anjorin on 30th April can never happen again.