Venture capitalist Chamath Palihapitiya said reporters did not do their job in investigating FTX founder Sam Bankman-Fried before its collapse on a recent...
That was Chamath Palihapitiya, a venture capitalist known for setting up VC fund Social Capital and a former Facebook executive, speaking on the All-In podcast about how the allegations behind FTX went unnoticed by traditional media outlets in the last two years.
“He wrapped himself in this blanket of a progressive left-leaning cause called effective altruism and all of the mainstream media fell for it and embraced him, as well as some politicians, because it met everything that they themselves also bought into,” he said. But Sacks disagreed, saying Bankman-Fried was smart in every decision in setting up FTX and its holding companies.
Speaking on FTX’s investors, he said “capital allocators failed apparently to due diligence here and install proper governance. You cannot put a company like this in business with billions of dollars and have no board of directors or he lied to them, which is possible.”
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