Evidence receipt / uncertainty
Published · transcript-backedSam Bankman-Fried: uncertainty
15 Dec 2021 Acquired FTX (with Sam Bankman-Fried & Mario Gabriele)
“One percent, I don't know that I'd ever done a trade good by 1% before in my life on anything.”
Source trail
Everything needed to verify it.
- Speaker
- Sam Bankman-Fried
- Attribution
- Verified speaker
- Claim type
- uncertainty
- Recorded
- 15 Dec 2021
- Publisher
- Acquired
Transcript context
…And you're looking at 10% to 20% here. Right, and just blew it out of the water. I don't want to say this would have made a lot of money compared to the total amount of money that a top trading firm would make. I would not believe that statement. But I do think that in terms of percentages, I'd never seen anything like it before. One percent, I don't know that I'd ever done a trade good by 1% before in my life on anything. Maybe I had some weird, tiny, illiquid [...], which was like, holy shit, guys, this trade is good by 1%. They're like, yeah, it's $38. Congrats, Sam. So yeah, the spreads here were just unheard of if true. But of course, maybe they weren't true. Maybe it's all fake data. I don't know, or at least I didn’t know then. You had left Jane Street and you went to California, was it like the classic I don't want to be a trader, I'm leaving this world, I'm thinking about what I'm doing next, but you got pulled back in because the opportunity was just so unignorable?…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.