Math: Who Needs It to be a CEO? Answer: Maybe FTX?
November 16, 2022
Let me be clear. I don’t think much about crypto. One outfit pitched me to invest in a way for lawyers to transfer a deceased client’s digital currency to the heirs. Nope. Don’t care. Another eager young MBA wanted me to get involved in a deal offering investors shares in virtual cows. Nope. Really didn’t care.
Nevertheless, I find the ups and downs, ins and outs of the crypto world interesting. I enjoy learning how specialist firms deanonymize crypto transactions. The idea of putting a bad actor in front of a judge makes me happy. However, listening to a crime analyst suggest that more than 50 percent of digital currency transactions are related to illegal activities makes me some what sad.
I absorbed the information in “‘The Bottom Has Dropped Out’: Study Confirms Fears of Growing Learning Gaps.” Let’s assume the data in the article are close enough horseshoes, which is the modus operadi today I believe. The write up says:
In the earliest weeks of the pandemic, researchers associated with NWEA made two jaw-dropping predictions. The first — that school closures would lead to lower math and reading scores — has been borne out over and over since then. The second — that the already broad range of academic levels within classrooms would yawn wider — has now been confirmed.
The article grinds through data which make one thing clear: Quite a few students cannot do math particularly well.
I found this statement in the estimable publication The Daily Mail’s article “Harry Potter Fan Ex girlfriend 28 of Founder Sam Bankman-Fried Bragged She Only Needed Elementary School Math to Be CEO of His Start Up, Despite Being Propped Up by Funds from His Failed Sister Crypto Exchange” fascinating:
The write up states:
Ellison [the alleged friend of FTX’s founder] disliked common trading safeguards such as stop-loss orders, a way of capping losses and reducing risk.
Yep, grade school math. I think that going forward more exciting things will surface. Oh, one plus one equals two, not one plus one equals a Mississippi River flow of money. A magic wand is real too. Wave it an a million people will be really happy.
Stephen E Arnold, November 16, 2022
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