Over nine years ago, I read Flash Boys and almost immediately began an interview saga that would lead me to spending all of my twenties working in quaOver nine years ago, I read Flash Boys and almost immediately began an interview saga that would lead me to spending all of my twenties working in quantitative trading. To read Michael Lewis walk back some of his critiques of the industry in this book (by way of establishing nuances) was an interesting "full circle" moment for me. Me, of course, being a diehard Michael Lewis fan who has felt indebted to the man for giving a geeky 20-year-old some extra talking points in interviews that helped him stand out from the crowd, by whatever margin we'll never be sure.
Hell, I even read The New New Thing, Next, and Pacific Rift.
I owe this guy something. And, contrary to the negative reviews, Michael Lewis owes his readers absolutely nothing. He ended up embedded within FTX and came out with the closest thing we'll ever get to a biography on Sam Bankman-Fried. Apparently he was supposed to spend at least 40 pages lambasting him. Where others allege an irresponsible and, at times, irrational, narrative, I see a textbook Michael Lewis characterization formed out of a too-good-to-be-true opportunity and delivered on a tight deadline (the deadline being the start of the trial).
Yeah, sorry, folks--we lost some real crypto market capitalization in FTX and BlockFi and so many other places. This is not the retribution you're hoping for. Instead, it's an amusing, important, informative book written for those who haven't already sunk 100 hours into following every event in this fiasco.
There are many reviews stating that the "early life" segment was half-assed. I thought the opposite. Hearing that SBF went from "Santa isn't real" --> "God isn't real" was similar to my own thought process as an elementary school student. Maybe I liked this book so much because it validated that it's okay to be someone who has consciously practiced making facial expressions and holding eye contact, and it affirmed that there is an industry where people like me and my friends find challenging work and a sense of belonging (and were beckoned away from to chase fast, mostly fake, money).
Is this a Big Short or Liar's Poker? No, not really. Michael Lewis did a great job with what he was given, though, and I don't blame him for not salting the wounds....more