Sam Bankman-Fried: evaluation

Transcript context

…Now in crypto, you're combining the exchange and the broker—they seem to have different incentives. The exchange wants to increase volume, and the broker wants to better manage risk, maybe with less leverage. Do you feel that in the long run, these two can stay in the same entity given the potential conflict of interest? I think so. There's some extent to which they differ, but more that they actually want the same thing—and harmonizing them can be really valuable. One is to provide a great customer experience. When you have two different entities with two completely different businesses but have to go from one to the other, you're going to end up getting the least common denominator of the two as a customer. Everything is going to be supported as poorly as whichever of the two entities support what you're doing most poorly - and that makes it harder. Whereas synchronizing them gives us more ability to provide a great experience. How has living in the Bahamas impacted your opinion about the possibility of successful charter cities?…

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