{"id":8325,"date":"2022-12-16T15:37:56","date_gmt":"2022-12-16T14:37:56","guid":{"rendered":"https:\/\/costops.com\/index.php\/2022\/12\/16\/from-musk-to-truss-2022-was-the-year-reckless-populists-came-crashing-down-to-earth-gaby-hinsliff\/"},"modified":"2022-12-16T15:37:56","modified_gmt":"2022-12-16T14:37:56","slug":"from-musk-to-truss-2022-was-the-year-reckless-populists-came-crashing-down-to-earth-gaby-hinsliff","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2022\/12\/16\/from-musk-to-truss-2022-was-the-year-reckless-populists-came-crashing-down-to-earth-gaby-hinsliff\/","title":{"rendered":"From Musk to Truss, 2022 was the year reckless populists came crashing down to Earth | Gaby Hinsliff"},"content":{"rendered":"

Revolutionaries who claim to bring down corrupt systems have proved that orthodoxy exists for a reason<\/p>\n

For a man on a moral crusade, Sam Bankman-Fried<\/a> lived a life of surprising luxury. The $40m penthouse<\/a> in the Bahamas, the supermodels and celebrities roped in to back his business ventures, and the fawning glossy magazine profiles would all be perfectly standard trappings for a Wall Street tycoon or hedge fund playboy. But they seem strangely reminiscent of the tired old capitalism Bankman-Fried got rich rejecting, not the one he was supposedly building in its place.<\/p>\n

Once one of the world\u2019s youngest billionaires, Bankman-Fried made his fortune in cryptocurrencies \u2013 forms of digital money originally invented to circumvent the supposedly corrupt financial elite and empower the little guy \u2013 and had grand plans for giving it all away to life-changing progressive causes. But instead of bringing the rotten old order crashing down, he was this week arrested on fraud charges (which he has denied) relating to the implosion of his currency exchange FTX in what bankruptcy lawyers describe<\/a> as \u201cone of the most abrupt and difficult collapses in the history of corporate America\u201d.<\/p>\n

Continue reading…<\/a>
\nRevolutionaries who claim to bring down corrupt systems have proved that orthodoxy exists for a reason
\nFor a man on a moral crusade, Sam Bankman-Fried lived a life of surprising luxury. The $40m penthouse in the Bahamas, the supermodels and celebrities roped in to back his business ventures, and the fawning glossy magazine profiles would all be perfectly standard trappings for a Wall Street tycoon or hedge fund playboy. But they seem strangely reminiscent of the tired old capitalism Bankman-Fried got rich rejecting, not the one he was supposedly building in its place.
\nOnce one of the world\u2019s youngest billionaires, Bankman-Fried made his fortune in cryptocurrencies \u2013 forms of digital money originally invented to circumvent the supposedly corrupt financial elite and empower the little guy \u2013 and had grand plans for giving it all away to life-changing progressive causes. But instead of bringing the rotten old order crashing down, he was this week arrested on fraud charges (which he has denied) relating to the implosion of his currency exchange FTX in what bankruptcy lawyers describe as \u201cone of the most abrupt and difficult collapses in the history of corporate America\u201d. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Revolutionaries who claim to bring down corrupt systems have proved that orthodoxy exists for a reason For a man on a moral crusade, Sam Bankman-Fried lived a life of surprising luxury. The $40m penthouse in the Bahamas, the supermodels and celebrities roped in to back his business ventures, and the fawning glossy magazine profiles would …<\/p>\n

From Musk to Truss, 2022 was the year reckless populists came crashing down to Earth | Gaby Hinsliff<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":8326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8325"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=8325"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/8326"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=8325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=8325"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=8325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}