I think SBF realized marketing is everything. Being the face of crypto, sponsoring sports stadiums, being on the cover of a widely distributed magazine, all part of the same playbook.

But it turns out that wasn't true. It turns out "being able to cover customer withdrawals" is everything.

The Superbowl ad curse.

Lots of crypto cokpanies that did not advertise in the Super Bowl or whose founders were not profiled by Forbes or Fortune have also collapsed.

In general, when I see someone on the cover of Fortune, I expect their business's half-life to be about a year. This has been very consistent because of the process of getting on the cover of Fortune and kind of people who push to get on it

Looks like it was the "Or crash and burn" from the cover. Bad move on his part.

I was wondering why he was throwing rescue tubes to silly projects. It seemed like he had too much money.