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Fortune
Fortune
Gleb Tsipursky

SBF’s dangerous decision-making philosophy that brought down FTX

(Credit: Stefani Reynolds - Bloomberg - Getty Images)

“Let’s say there’s a game: 51%, you double the Earth out somewhere else; 49%, it all disappears. Would you play that game? And would you keep on playing that, double or nothing?”

The vast majority of us would not take the risk of playing that game even once. After all, it seems morally atrocious to take a 49% chance of all human civilization disappearing, for a 51% chance of doubling the value of our civilization–essentially a coin flip.

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