Quite So

From Andrea Shulman at the Daily Mail:

“The crypto currency FTX collapsed last week, losing $32billion of value overnight. Sam Bankman-Fried, the youthful founder once hailed as a crypto legend and now facing possible extradition to the US from his Bahamas base, is always seen in a pair of shorts.  So are we surprised by FTX’s downfall?  Not at all.  Why?  It’s simple.  Never trust a man who wears shorts outside of his holidays.”

What she said.  I don’t know or care what or who FTX is/was, but her last sentence resonates with me, as you all knew it would.

This look is so over, and even more so when billions of dollars are being discussed.

On the other hand, “crypto-currency” isn’t real currency either, so maybe the small-boy look is appropriate.


  1. Do yourself a favor and watch a video of SBF. His soy-boy voice is also unnaturally high. His nerdy ex-girlfriend bragged that she only needed “high-school math” to run his “investment” company.

    I guess when you’re just stealing other people’s money to enrich yourself, simple math is all that’s needed.

  2. Sorry but I don’t feel sorry for the folks who spent real money on the magic beans from these idjits.
    The financial institutions that played in this realm will just fire a few analysts and move on but the fools who plowed their IRA’s into vaporware probably will never recover.

  3. On the third hand, the fiat currency from the Fed or the Exchequer isn’t real money either. They just have better PR.

  4. An old client insisted that he and everyone he dealt with on important matters dressed and groomed themselves formally. His theory, entirely correct, was that humans are feckless, lazy, unserious and sloppy by nature and need constant pressure to “be sharp”.

    He said you can’t be sharp unless you feel sharp and you can’t feel sharp unless you look sharp and see yourself as sharp and you can’t do that unless you dress and groom sharp.

    He was in the car business and also insisted that “a clean car runs better” – because an owner who kept his car clean was much more likely to maintain it properly. He was easily able to suss out whether a car had been cleaned only for efforts to sell it to him but was normally dirty.

  5. Be very careful judging people by how they dress. Expensive tailored suits should set off as many alarm bells as sloppy dressers. The billionaires I’ve met don’t need to impress anyone with how they dress. Elon Musk and Jay Leno are prime examples. It’s the sleazy lawyers and the overly slick salespeople pushing questionable deals that feel they need to look the part so you believe the BS they sling.

    As for crypto currency, it’s always been a giant Magic Black Box / Perpetual Motion / smoke and mirrors/ Ponzi scheme. All of them. Never invest in something you don’t understand completely.

    1. Correct. Most every member of congress and any similar body of corrupt sleezebags the world over wears suit and tie (or the female equivalent) all the time.
      I’d rather trust a random guy or gal in shorts and a t-shirt I met on the street than any of them.
      I loathe suits myself. I dress well, better than most people, but no “business uniform” for me. And if that’s not formal enough for you, get used to it. I’m who I am despite how I dress, not because of it.

      Clothes don’t make the man or woman.

  6. Y’all can debate the value of crypto until the cows come home. This isn’t a case of people who invested in something that didn’t pan out. This is more of a case of the people running the exchange making off with their customer’s money and sticking people with worthless IOUs.

    Imagine if you go to the bank to withdraw some cash and they tell you that they don’t have it but are trying to get it.

      1. I’ll amend my analogy.

        Imagine if you go to the bank to withdraw some cash and they tell you that they lost your money betting at the track, but they are trying to win it back.

  7. Crypto currencies actually meet the requirements of currency to a greater degree than what makes our post 1972 $FIAT Dollar currency.

    But then again, most people don’t think about it, and not thinking about it is where folks wrap themselves around the axle, especially if they mistake crypto currency for an investment.

    Incidentally, the IRS treatment of crypto as investment and therefore subject to capital gains was an effective destruction play.

  8. When I started my job in 1991 I interviewed while wearing a suit, but the basic dress code (not formal, but existing all the same for being unwritten) at work was black shoes and socks, dark suit pants, white tee shirt with white shirt and tie over it. The occasional light-blue dress shirt was also acceptable.

    I often had to go to our fabrication facilities or sub-contractors (sheet metal and structural steel fab) and would change at the office into blue jeans, steel-toed boots, and grubby shirt…and then change back immediately upon returning to the office. This went on for that decade, and then things relaxed a little. Khakis and polo shirts slowly became acceptable office attire, and I personally started wearing (black) tennis shoes because of my feet. I don’t think anybody ever even noticed since they looked like dress shoes from more than 6 feet away. By the time I retired in 2018 it was pretty much anything goes…EXCEPT for shorts. But I did wear shorts into the office on weekends because almost no one was there (certainly no customers), and I figured putting in time on the weekend was enough extra that I didn’t need to care.

    Now that I’m retired shorts are the usual garb anytime the outside temperature is high enough. It’s handy to be in shorts and sandals when you’re launching a kayak to go fishing in one of the reservoirs, but I still wear hiking shoes and long pants when fishing the riversides. I guess the difference is that now I’m “on holiday” all the time.

  9. I’ve worn shorts and short sleeved shirts everyday for more than 30 years and have run a successful architecture business the whole time. Never slovenly, always better quality, always precise. Being casual in my business makes my clients comfortable and easier to relate with. People that live in $4mil custom homes on isolated islands off the southwest coast of FL dress similar to me.

    1. well said.

      When it gets hot I wear shorts to work, unless there’s a dress code prohibiting it (there rarely is for my profession).
      Never slovenly, obviously. But comfort is important for working at peak performance and if I’m drowsy from the heat I’m not able to think straight.

      Will have to see what happens at my new employer, but so far things aren’t very formal. Casual friday is every day, pretty much 🙂

  10. In High School we had a dress code. Generally it was no jeans, collared shirts with shirt tails tucked in. Socks were mandatory as well. No sweat shirts except ones with the school logo. I still tend to dress this way. a shirt tail out dives me nuts and I feel like a slob.

    In my first career, khakis and a dress shirt or casual shirt in the same cut or a polo shirt was most common. Some places allowed jeans because many of us were out on a project site. Boots for the field or dress shoes for the office were normal. Some offices required a jacket and tie. I wrecked one nice jacket on a job site when the sleeve got caught on something. After that I wasn’t going to wear nice clothes to a filthy job site.

    I dropped that career for one in healthcare and scrubs became the dress of the day. On days when I had to go to a meeting, I stuck with khakis and a dress shirt or polo to fit with the institution’s business casual dress code. Some of the other healthcare “professionals” at the meetings were going to the beach afterwards and dressed in that manner.

    Days off are typically Vasque hiking boots, chinos, rarely jeans and a polo or flannel shirt. Also, I’ve taken to wearing a panama hat in the summer, tweed flat cap in the winter or a felt fedora. I avoid baseball caps unless I’m doing yard work or going to the woods. Going out for dinner I’ll dress accordingly for the location. As I have gotten older, shorts are avoided.


  11. crypto curreny. yeah sounds far too much to magic beans. The libertarians have Porc Fest in NH each summer. They announce on their website that they take crypto, silver etc as payment.


  12. Those who invest in crypto currency are the same ones who let the other guy be the banker and still can’t figure out how they never win a game of Monopoly.

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