RUIN is a feature documentary about Sam Bankman-Fried and the stunning collapse of his cryptocurrency exchange, FTX, as | dG1fbHgwYzBMY0tvTkU
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Short filmTranscript
00:00 I think this will probably go down in history as one of, if not the largest, financial crimes ever.
00:07 I cannot imagine a scenario where $8 billion just disappears.
00:12 They use QuickBooks. A multi-billion dollar company using QuickBooks.
00:17 Sam Bankman-Fried has been arrested in the Bahamas.
00:20 Bankman-Fried has pled not guilty to multiple fraud charges.
00:25 Very few people want to go on the record saying anything bad about Sam or about FTX.
00:32 Sam was just too important in the crypto community.
00:35 He was negotiating directly with politicians, with world leaders.
00:39 When someone says, "I'm going to give a billion dollars in the next two years," that catches everybody's attention.
00:45 He was not only one of the richest people in the world, he was a young, rich person.
00:49 He was a really interesting, new sort of philanthropist.
00:53 And so effective altruism becomes this, like, essentially a community of people that mostly develops online,
00:58 and it's about giving as much money as possible in the most effective way.
01:04 I got involved in the EA community in college, and it's been a really big part of how I've decided what to do with my life.
01:09 As time went on, their ideas got, like, weirder and weirder.
01:13 They started worrying about apocalypses.
01:16 Like killer robots.
01:18 We need to stop AI from killing us.
01:20 And that's the kind of effective altruism that Sam Bankman-Fried believed.
01:24 Like, if you don't save the world because you were too worried about what the Securities and Exchange Commission might think,
01:30 like, maybe that makes you a bad person.
01:32 I don't think he even had almost a conception at some point that it was wrong or right.
01:40 I think he just had the mentality that he has to win.
01:42 It was almost like trying to explain, like, business ethics 101 to a baby.
01:48 Sam has basically become a villain in everyone's minds.
01:51 This committee will not stop until we uncover the full truth behind the collapse of FTX.
01:58 Sue, Mark.
01:59 Are you in?
02:00 I'm in.
02:01 I'm in.
02:02 I'm in.
02:03 I'm in.
02:04 We're in.
02:05 Will this be the last of its kind? No.
02:15 This is the nature of capitalism. Get over it.
02:18 [MUSIC]