Like the guy who ran WeWork, Sam Bankman-Fried used all the right buzzwords when raising money, and there is no more effective term to make wealthy elites squee in 2022 than "effective altruism." Like "smurf", it can mean anything you want it to mean. Like $300 million in homes for friends and family while $10 billion in customer assets are in some fantasy universe.
Now Stanford University law professors Joseph Bankman and Barbara Fried have to explain why they are on the deed for a "vacation" home in Old Fort Bay. Their new paid representative says they'd really like to give it back. I bet they would.
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