He gambled. Lost. Gambled more. Lost bad "even when times were good". My guess i... | Hacker News

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		andirk on Dec 1, 2022 \| parent \| context \| favorite \| on: FTX’s collapse was a crime, not an accident He gambled. Lost. Gambled more. Lost bad "even when times were good". My guess is he figured if he could borrow from Peter to pay Paul one more time... one more time that he would eventually be back in the black. I think he personally set up those "positions" over and over, but he's not good at gambling so now it's all gone. https://www.nytimes.com/live/2022/11/30/business/sam-bankman...

quickthrower2 on Dec 1, 2022 | [–]

You forgot stole. He stole, gambled, lost.

Let’s say Amazon bet your $100 order money on WSB stocks and lost, and said “excuse blah insolvent blah accounting blah”.

achenet on Dec 1, 2022 | [–]

this sounds like a tragic version of the film Uncut Gems

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