• 11 months ago
FTX Crypto Billionaire Sam Bankman Fried Documentary
Transcript
00:00 Hey Sam. Hey. Sam Bankman-Friede. What do you think about the market today? Sam Bankman-Friede. There's a huge seller of Bitcoin on Binance.
00:07 When we are young, we are packed with unstoppable, unresting energy, a strong adrenaline rush,
00:18 and the determination to get things done our way. For most of us, our aims and ambitions
00:23 revolve around becoming successful, making more money, and hustling our way through the ever-so-competitive
00:28 industry to make ourselves known as someone who has worked so hard to reach their present,
00:33 flourishing status. It's not a bad thing at all to dream about having it all one day,
00:37 but what matters the most is the fact that you are equally willing to work towards getting what
00:41 you need or not. After all, what good would it do to you if you do nothing but sit back and let
00:46 destiny play out its cards in front of you? Well, luckily enough, some people around us followed
00:51 their heart and mind, irrespective and uncaring of the results that they would achieve, and at the
00:55 end of the day, their success was enough to make them known to the world. It is mostly because of
01:00 these people that young and like-minded individuals feel motivated to grow along their path, which is
01:05 indeed something that needs to be done more often than not. Among such young and enthusiastic people
01:13 is Sam Bankman-Friede. "Sam Bankman-Friede. How did you do this so quickly?" "It sometimes feels
01:20 like the world is just going in slow motion, and that we're going at about an average speed."
01:25 The name which was previously hidden and unknown to many has now easily become one of the most
01:30 influential and powerful names, thanks to his brainchild, FTX Exchange in the crypto world,
01:41 along with his Alameda Research Trading firm. And that is not all, all of this happened back during
01:46 such times. The way that Sam Bankman-Friede has gained success and made himself popular over a
01:52 short period of time is indeed commendable and worth appreciating. Over the last few years,
01:57 he has made up 26.5 billion dollars and a crypto empire that seems to be only growing and glowing
02:03 day by day. But did Sam have it the easy way? Was it really as easy as it seems today to make
02:08 all this empire from scratch and then maintain it as well with the same zeal and fervor as he had
02:13 in the beginning? Well, in order to find out, let's take a peek deeper into the past to see
02:18 how it happened. Born in the house of two Stanford Law professors, Sam Bankman-Friede was a young and
02:27 talented kid since his childhood. At the mere age of 14, he developed a very strong sense of
02:33 utilitarianism which was immediately guessed correctly by his mother. Because he was so bright,
02:38 he attended the Math Camp which was a USA Canada based program for kids who were math enthusiasts.
02:43 Growing up, he went to MIT to pursue a major in physics and a minor degree in mathematics.
02:48 Roughly a year before he graduated in 2013, Sam started working as an intern at a propriety
02:54 trading firm called the Jane Street Capital which revolved around trading EFTs. During his time with
02:59 this industry, he would donate a sizable amount of his salary to charity. Soon after he graduated,
03:04 he returned to the firm, this time as a full-time employee and not an intern. Three years down the
03:09 lane in 2017, he was seen establishing his own quantitative crypto trading firm called the
03:14 Allamatter Research. This firm was the result of his accumulated ideas and observations which he
03:20 often talked about in his interviews. Since it was relatively a newer and interesting thing for
03:24 the people, there had been massive price inflows and movements that indicated that people were
03:29 jumping into the trend of trying and testing their luck with crypto with, unfortunately,
03:34 that with little to no information or security of gains or losses accessible. Sensing these trends
03:39 and somewhat out of his habit as well, Sam worked out how the future possibility would be like and
03:44 needless to say, with little to no useful information available, it was obvious that
03:48 people would demand liquidity, but there would not be any left for them if things stayed the
03:52 same slow and unsure. Therefore, in an attempt to get this whole crypto deal to unfold easily in
03:58 front of everyone and to make people understand how it worked, Sam decided to jump into the crypto
04:03 world and dissect the infrastructure on everyone's behalf. And this is how we all came across
04:08 Allamatter Research. It's often said that once you are in, you are in, and the same happened
04:14 with our hero, Sam Bankman Frye. He enjoyed the essence of the crypto world and if you are someone
04:19 who has been actively involved in crypto and the likes of it, you would know how interesting and
04:23 demanding this field could be at the same time. But since we are here dealing with someone who
04:28 was not only an avid learner and seeker, but also someone who wants others to gain the maximum
04:32 benefit from it, the same was seen happening when in 2019, Sam established his now booming
04:37 firm called FTX. When Sam moved forward with his idea of establishing FTX, he had no thoughts or
04:43 even intentions whatsoever of making it reach the topmost levels of success. For him, it was only a
04:49 place for like-minded crypto traders to feel at home and so, with the same intention, he kept on
04:54 moving his mission forward. While running FTX, Sam appears to be one of the happiest and most
04:59 hardworking men alive. It is if all his dreams are coming true under this name and that he feels
05:04 finally at peace knowing that he is on his way to achieving his passions for good. This was also
05:09 demonstrated when he single-handedly managed to raise a whopping amount of up to $900 billion
05:14 from Coinbase Ventures and SoftBank last year which ended up making him earn the title of being
05:20 one of the richest people under 30 years old. Talk about smooth right? In some of his earlier
05:26 interviews, Sam was seen admitting to the fact that he regrets not joining the crypto world sooner.
05:31 He had thoroughly enjoyed his experience in getting to learn about this field and seeing
05:35 how it would go out and about in the upcoming years that he ended up establishing a leading
05:39 firm of his own. Had he known about it sooner, it is not hard to guess that he would have gone
05:43 along this path back then. But despite doing everything and becoming one of the youngest
05:48 billionaires before the age of 30, Sam is just like any one of us. He is a simple man and despite
05:54 being at this stage where he could easily afford any one of the luxuries with no issues at all,
05:58 he seems comfortable with his go-lucky attitude. Being an active philanthropist, Sam has always
06:03 believed in earning for others more for himself and thanks to this ideology of his, we can now
06:08 see how often he goes on to generously donate chunks of his salary to deserving people and
06:13 causes. Talk about being noble and smart both at the same time. It is expected that he would
06:18 continue doing the same in the future as well, for people who have such a caring heart rarely
06:23 undergo any change, and seeing how determined Sam already is, he would undoubtedly not want to
06:28 withdraw from this cause that is bringing him so much peace in his life for good. Not only this,
06:33 half of FTX and another half of the FTX tokens belong to charity and so, they continue to be
06:39 donated for the same cause without any hesitations or cut-offs at any time of the year. If you ever
06:44 get a chance to come across Sam Bankman Frye, it is expected that you are going to be surprised or
06:49 maybe shocked. Wondering how? Well, it's simple. Out of the many people who have had the privilege
06:55 of interviewing him, nearly all have suggested similar things regarding his appearance, that
06:59 being of someone who has just rolled out of bed. In terms of his other lifestyle habits, we can all
07:04 find him relating to either one of us very easily. He is often seen with his Oreos which he loves so
07:09 dearly. Apart from that, Sam is a pure vegan. His favorite dish is one of the simplest ones of all,
07:14 French fries with a dash of salt on them. This motivation to switch entirely to a vegan
07:19 lifestyle came from the love of animals too as he believes in caring for all. For the sake of FTX,
07:24 he is ready to take big stakes and these stakes are not only for his benefit but for the benefit
07:29 of everyone else who seems to be connected to this firm. Sam Bankman Frye is indeed a man of
07:34 his words. Even at the young age of 29, he seems to be as motivated and dedicated as ever to get
07:40 things done according to his plans for achieving the greater good for everyone. It's not hard to
07:45 guess that the crypto world belongs to smart people like him who are ever ready to uptake
07:49 and tackle challenges anytime of the day without any complaints. What do you think of today's video?
07:55 Share with us your thoughts in the comments below. And if you enjoyed today's content,
07:59 check out this related video to see more. Until next time!