Michael Lewis challenges assumptions about his mesmerising, maddening subject
billionaire about whom he was rumoured to be writing a book. “Three years ago, nobody knew who you were,” Mr Lewis gushed. “And now you’re sitting on the cover of magazines. And you’re a gazillionaire. And your business is like one of the fastest-growing businesses in the history of the planet.” It made Mr Faux, a writer for Bloomberg who was in the audience, uncomfortable, as “the author’s questions were so fawning.
From the start, Mr Bankman-Fried is portrayed as a puzzling, too-clever-by-half, yet oddly magnetic personality. He struggles to make sense of his childhood. His appearance is alienating. He hates fashion and sports cargo shorts and unkempt hair. A hilarious passage describes him playing a fiendishly complex video game while speaking to Anna Wintour, the editor-in-chief ofHis hyper-rationality sets him apart from almost everyone.
Mr Lewis’s storytelling is as good as ever. A key moment in the book tells of an incident called “The Schism” that took place in 2018, at the start of Mr Bankman-Fried’s efforts to create Alameda Research, his crypto hedge fund. The firm’s finances are already in chaos, a large pot of money has gone missing and some of histo be either dishonest and manipulative or well-intentioned but a terrible manager. They leave in a huff, though not before brawling over money.
A third revealing relationship is that which, between the lines, plays out between Mr Lewis and John Ray, the bankruptcy expert drafted in to rescue what is left offor its creditors. Mr Lewis’s writing style works best when he stands in the background, observing what others have missed. For most of the book he does this. But he subtly skewers Mr Ray and it is hard to escape the feeling that he is channelling arguments thathe portrays is both mesmerising and maddening at the same time.
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