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Culture War Roundup for the week of September 7, 2026

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Going by the book, the entire personnel list and turnover of same in the intertwined entities was nuts. People were joining, moving around, resigning, being replaced, by the new time. Ellison ended up as CEO of Alameda more or less as "the only person still around" and she was pushed into a position that she was not prepared or suited for, but Sam convinced her.

Sam seems to have been able to convince a lot of people to trust him and do this crazy thing, and the crazy thing worked out, so next time he proposed something crazy people's barriers were lowered over "well he was right last time". Also the EA jargon he was spouting was believed in by a lot of the people, and when you have a cult going on that is convinced it's making huge money by being smarter than the normies and using that money to save the world, nobody inside wants to rock the boat by pointing out the Emperor has no clothes.

The Sequoia Capital article on it all (right before it went belly-up) is fantastic for the kind of moondust he was selling and how otherwise (you would imagine) smart people disbursing funding who should have been a lot more cynical just bought it by the bushel.

The first 15 people SBF hired, all from the EA pool, were packed together in a shabby, 600-square-foot walk-up, working around the clock. The kitchen was given over to stand-up desks, the closet was reserved for sleeping, and the entire space overrun with half-eaten take-out containers. It was a royal mess. But it was also the good old days, when Alameda was just kids on a high-stakes, big-money, earn-to-give commando operation. Fifty percent of Alameda’s profits were going to EA-approved charities.

“This thing couldn’t have taken off without EA,” reminisces Singh, running his hand through a shock of thick black hair. He removes his glasses to think. They’re broken: A chopstick has been Scotch taped to one of the frame’s sides, serving as a makeshift temple. “All the employees, all the funding—everything was EA to start with.”