Andy Croghan @AndyCroghan

Susquehanna Crypto. Formerly Polychain Capital, Ftx and COO of Alameda Research. I worked there before it was uncool Joined May 2011

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Andy Croghan @AndyCroghan

5 days ago

@ConstanceWaing Constance is correct. Constance and I worked alongside SBF and Caroline for years. This is so far from any realistic interaction. Worse than that, it makes the complicated and tragic reality of their failures look like trivial romantic conflict and tropes

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Andy Croghan @AndyCroghan

6 days ago

The only good thing about the FTX Netflix trailer is @mattrife playing @rsalame7926 . It actually could be so good

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Andy Croghan @AndyCroghan

6 days ago

@notthreadguy Any suggestion that it was Caroline using romance to manipulate SBF's risk appetite just shows they spoke to 0 people who knew anything first hand.

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Andy Croghan @AndyCroghan

7 days ago

@netflix I can confirm this is entirely nonsense.

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Andy Croghan @AndyCroghan

4 weeks ago

@mrrobert060921 @NateSilver538 i wasn't trying to find a good or bad example, I just had experience talking with SBF.

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Andy Croghan @AndyCroghan

a month ago

Industry AI folks should study how SBF fell, because he was one of you. I was COO early at Alameda and the first non-EA they hired. The EA/Bay Area coded language at the AI labs is the exact same cult-speak I heard there. Frankly most of these guys had +30 IQ points on me, so I think they just saw a normie. I still found SBF's ability to sift through noise and get things done remarkable. I loved the work: rapidly accomplishing goals and taking market share. What I didn't love was where the track led. Early SBF was often right and, while stubborn, very open to debate. His vision was correct often, but when others were right, he conceded and updated. The real problem came when he became Too Right to Fail. Billions of dollars, celebrity friendships, commercials, private jets. All because of how right he'd been about everything. The AI labs are at that exact inflection point. You've been "right" about the thing you poured your entire self-worth into (and we all know you value that highly). Basically totally right, so why stop now, especially with $2.5T straight ahead, just like you predicted. But SBF was right until he wasn't, and he'd trained himself not to see it coming. The goal of saving the world led to him speedrunning becoming its villain. An ironically common outcome for someone considered so uncommon. Take this moment seriously. Stop being an out-of-touch genius. When what you post sounds insane to normies, that's the signal, not their failure to get it. Stop posting about how "interesting!" 10% exrisk is. SBF was the anointed one, and you watched him collapse while holding his same ideals. He only destroyed crypto. Think about what you'd destroy.

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Andy Croghan @AndyCroghan

3 months ago

@TheStalwart Most people at Alameda donated a tremendous amount to OpenAI and others (pre Anthropic split, most Alamedans were on Anthropics side and felt very betrayed by Altman). Part of me thinks @elonmusk and SBF might actually be very aligned right now in another timeline.

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Andy Croghan @AndyCroghan

3 months ago

@TheStalwart I would say none of the early Alamedans were crypto believers. Their EA goals are what brought them together. SBF generally aligned with some elements of crypto like personal control and access to capital, but technology-wise SBF always seemed unenthused.

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Andy Croghan @AndyCroghan

8 months ago

@zhusu I think we have all seen the damage that an unlimited utility functions paired with huge amounts of capital can inflict.

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Andy Croghan @AndyCroghan

12 months ago

@mikealfred These are filed by Jane Streets Options market making entities. This is likely not anything to do with "investing" in this company and everything to do with accumulating calls while market making (which count as share ownership for form 13g). There is a reason they stopped at 5%

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Andy Croghan @AndyCroghan

a year ago

Wait no way the Knicks lose now that God confirmed he's a Nova fan

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Andy Croghan @AndyCroghan

2 years ago

@RobertMSterling Certified applications =/= visas issued. I am not sure if you mean to misrepresent them as such but it makes this analysis useless. Approvals are the first part of the issuing the visa, but they are not 1:1 and still limited by the 85k per year.

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Andy Croghan @AndyCroghan

2 years ago

@vishalkgupta @DefiyantlyFree I think this was a big part of it. Vishal also knows that in the early days no one really know who we were. Half the time banks didn't know who we were because we were such a low profile trading firm. Things very much changed with FTX launch and SBF launching his persona

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Andy Croghan @AndyCroghan

4 years ago

Bad fuckin takes. Don't worry I lost plenty, similar boat with zane

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Andy Croghan @AndyCroghan

4 years ago

People claim "Defi solves this" but also ignore that in the last 5 years more money has been stolen via Defi than Cefi

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Andy Croghan @AndyCroghan

4 years ago

@cryptomanran @SBF_FTX Frankly - because it's really easy to get nothing done , make no compromises and claim ideological purity. SBF is someone who actually cares about getting things done, and that means he needs to live in reality. And CT hates reality.

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Andy Croghan @AndyCroghan

4 years ago

@FatManTerra Yeah I hear you, I honestly just thought it was a genuine way to show how hard we were working and - again - you were gonna notice that he was there - it wasn't a big office haha. Better to embrace it! As for the clothing - suits in crypto are cringe

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Andy Croghan @AndyCroghan

4 years ago

@FatManTerra BTW - Sam wasn't ever directing me to do this (having people over while he was sleeping) - He worked and slept in the office every day so you it would be hard to avoid seeing him sleep, so I kinda decided to own it and embrace it. We worked hard and it was a good way to show it

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Andy Croghan @AndyCroghan

4 years ago

@FatManTerra One time i told Sam to get a haircut. He said it was stupid. It would be less legit to dress up and cut our hair than to just be ourselves and do what we do best. I think it's the opposite of pretending.