Stuart Varney: Sam Bankman-Fried’s ‘shabby look’ fit nicely with his ‘effective altruism’
Bankman-Fried's case has sent shivers through Silicon Valley, says Varney
Stuart Varney: Sam Bankman-Fried’s ‘shabby look’ fit nicely with his ‘effective altruism’
FOX Business host Stuart Varney asks why 'smart guys' forked over billions of dollars to Sam-Bankman Fried.
"Varney & Co." host Stuart Varney discussed FTX founder Sam Bankman-Fried’s "shabby look" during his "My Take" Wednesday, arguing his "ultra-dressed down" style fit nicely with his "effective altruism."
STUART VARNEY: How come, some supposedly smart guys handed over billions of dollars to Sam-Bankman Fried?
Was it his ultra-dressed down look: baggy shorts, stained tee shirt and messed up hair?
Successful techies often dress down: remember Mark Zuckerberg's hoodie? Heaven forbid a crypto guy wears a suit.
One of SBF's colleagues, Andy Croghan, told The New York Times, "Sam and I would intentionally not wear pants to meetings."
"The shabby look" was deliberate.
WHERE DID THE MONEY GO IN FTX CRYPTO COLLAPSE?
Designed to convince investors that lo and behold: the odd-looking guy before them, was actually a techie genius.
Twenty-somethings chucking around billions? No need to worry. No board of directors. No sweat.
This guy dresses like he's from another world, and the folks throwing money at him wanted to get into that world.
Crypto prices were going through the roof: give him the money.
And besides, his "homeless" look fit nicely with his "effective altruism" (making money to give it away to good causes).
Give him the money.
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The Bankman-Fried case has sent shivers through Silicon Valley.
Venture capitalists won't be so quick to chuck money at youngsters with a good idea, especially if they dress like Sam Bankman-Fried.
Suits could make a comeback...