<story><title>Sequoia has marked its investment in FTX down to $0</title><url>https://twitter.com/sequoia/status/1590522718650499073</url></story><parent_chain><item><author>robswc</author><text>I actually talked to Sam for a bit in the &amp;quot;early days&amp;quot; and he always seemed like an OK guy.  Approachable and &amp;quot;honest&amp;quot; which makes this all the worse...  I kept asking &amp;quot;why start an exchange when you&amp;#x27;re killing it with Alameda?&amp;quot; and his response seemed to consistently be about wanting to make a better product and legitimize crypto... ugh, don&amp;#x27;t even know what to think now... if that was all a front.&lt;p&gt;It&amp;#x27;s really odd to think because its always &amp;quot;some guy in the news&amp;quot; that gets bad press and demonized (not unjustly), never really someone you &amp;quot;know of.&amp;quot; (prob a lot of ppl w&amp;#x2F;that experience hanging around HN tho, lol)&lt;p&gt;It&amp;#x27;s just weird feelings but mostly just &amp;quot;wtf man.&amp;quot;</text></item></parent_chain><comment><author>AlexandrB</author><text>&amp;gt; ugh, don&amp;#x27;t even know what to think now... if that was all a front.&lt;p&gt;It&amp;#x27;s very easy to &amp;quot;get high on your own supply&amp;quot; and lose objectivity around what you&amp;#x27;re doing and how likely it is to succeed. This doesn&amp;#x27;t require malice either.</text></comment>
<story><title>Sequoia has marked its investment in FTX down to $0</title><url>https://twitter.com/sequoia/status/1590522718650499073</url></story><parent_chain><item><author>robswc</author><text>I actually talked to Sam for a bit in the &amp;quot;early days&amp;quot; and he always seemed like an OK guy.  Approachable and &amp;quot;honest&amp;quot; which makes this all the worse...  I kept asking &amp;quot;why start an exchange when you&amp;#x27;re killing it with Alameda?&amp;quot; and his response seemed to consistently be about wanting to make a better product and legitimize crypto... ugh, don&amp;#x27;t even know what to think now... if that was all a front.&lt;p&gt;It&amp;#x27;s really odd to think because its always &amp;quot;some guy in the news&amp;quot; that gets bad press and demonized (not unjustly), never really someone you &amp;quot;know of.&amp;quot; (prob a lot of ppl w&amp;#x2F;that experience hanging around HN tho, lol)&lt;p&gt;It&amp;#x27;s just weird feelings but mostly just &amp;quot;wtf man.&amp;quot;</text></item></parent_chain><comment><author>cryptoanon</author><text>Alameda messed up in the same way that three arrows did. That’s not necessarily Sam’s fault, because he did not run Alameda at the time. However, it seems like you build them out by providing them with a ton of FTT collateral so he’s pretty much complicit.</text></comment>