Noted academic and risk manager Nassim Nicholas Taleb, famous for his books “Black Swan”, “Antifragile” and others, has taken to social media app Bankman-Fried. This is what Taleb accuses SBF of this time.
“People like SBF know a little about statistics but don’t understand processes”
Taleb cited a tweet with a quote from a Michael Lewis book “Going Infinite” that was just released. The book tells the story of Sam Bankman-Fried, how his management led to the collapse of FTX and investors and customers losing billions of US dollars in cryptocurrency.
In this quote, SBF criticizes William Shakespeare. SBF basically stated that since at the end of the 16th century, according to statistics, there were probably at most 10 million people who could read, the world’s greatest writer could hardly have been born then. He also claims that Shakespeare has many “flaws.”
Taleb responded to that, stating that “the problem with people like SBF is knowing a little bit of statistics to repeat them, but not understanding the processes (i.e. the dynamics over time).” He also reminded his followers, for good measure, that “Shakespeare has survived nearly half a millennium of filtering through time.”
Taleb ended his tweet, stating that the former cryptocurrency mogul had failed his job interview.
The renowned author also agreed with a comment made by prison for defrauding investors) with the rest of the Bitcoin community.
The To that Taleb’s response was “101.”
Taleb and Kiyosaki’s views on the clash between Bitcoin and gold
Recently, Taleb posted some criticism of renowned financial guru, author of “Rich Dad Poor Dad,” Robert Kiyosaki, on the dollar and gold. Kiyosaki has been tweeting constantly (since 2020 actually) that he expects the dollar to crash, gold and silver to soar, and markets to crash. Kiyosaki believes that the dollar has lost its value as in recent years the Federal Reserve has printed trillions of dollars out of thin air to support the economy and pump money into it.
Taleb argues this, stating that the dollar has remained fairly stable against gold and silver over the past 50 years, particularly during the difficult times of the US economy in 1979-1981. Furthermore, gurus have completely opposite opinions about the world’s leading cryptocurrency. While Kiyosaki recommends everyone buy Bitcoin (gold and silver too, believing that all three are safe haven assets), Taleb continues to criticize BTC, calling it a “fad destined to die” and a “tumor.”
