> Nobody talks about Sam Bankman-Fried's $500 million stake in Anthropic and SpaceX.Previous | First | 1 | Last | Next
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.Nobody talks about Sam Bankman-Fried's $500 million stake in Anthropic and SpaceX.
When FTX collapsed in November 2022, the immediate narrative was one of fraud, hubris and misappropriated customer funds. Two years on, a second story is emerging from the wreckage; one about investment timing that stands out in the history of venture-backed crypto portfolios. A reconstruction of Sam Bankman-Fried's pre-collapse positions across six assets shows a portfolio that, had it been held intact, would have grown from roughly $4.7 billion to an estimated $52.5 billion; a paper gain of $47.8 billion.
https://finance.yahoo.com/news/ftx-owne … 33104.html
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Re: Nobody talks about Sam Bankman-Fried's $500 million stake in Anthropic and SpaceX.
Even if you make money you can't play fuq fuq games with the money. Everyone knows that.
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Re: Nobody talks about Sam Bankman-Fried's $500 million stake in Anthropic and SpaceX.
To raise money for his new startup, Amodei turned to powerful backers in the EA community—including Sam Bankman-Fried.
The young billionaire was living in Hong Kong, where his crypto exchange FTX was taking off. He had just started the FTX Foundation, which committed to donating money from his company to organizations “offering the greatest positive impact on the world.”
The philanthropy pledged money to popular EA causes such as pandemic prevention and global development, and flirted with doomsday preparations. The same fear of catastrophe also led Bankman-Fried to closely track the rapid advances taking place in AI. By the time he hopped on a video call with Amodei in the second half of 2021, he had expressed concerns to a colleague that if the technology grew smarter than humans, it wouldn’t treat them well, the colleague said.
Bankman-Fried ended up investing $500 million into Anthropic—five times his team’s initial recommendation, the colleague said. FTX became one of Anthropic’s largest shareholders, and the FTX Foundation would go on to pledge funding for multiple AI safety nonprofits, including one that now works out of Constellation.
Anthropic said it would use the money to help it “explore and improve the safety properties of computationally intensive AI models.”
Caroline Ellison, Bankman-Fried’s former girlfriend who was running Alameda Research, would go on to invest $10 million into Anthropic.
https://www.wsj.com/tech/ai/ai-safety-e … =djemITP_h
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