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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Going Infinite summary
The Rise and Fall of a New Tycoon
9 mins
Brief summary
Going Infinite by Michael Lewis is a book that delves into the world of finance and explores the concept of infinite leverage, showcasing the risks and rewards of this powerful investment strategy.
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Going Infinite
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The unknowable man finds his calling
How much do you know about Sam Bankman-Fried? Or, better yet, how much does anyone know about Sam Bankman-Fried? It turns out, even friends, family, and people who grew up with him find him hard to describe. As his brother put it, he keeps to himself.
What we do know is that he was raised by two parents who were both career academics. As he grew up, it was clear that he didn’t fit the conventional mold. He preferred being around adults and often questioned societal norms. He didn’t understand why anyone believed in Santa Claus or religious concepts like heaven and hell. He also had trouble connecting with people. He had to practice making facial expressions in order to make others more comfortable.
As a teenager, Bankman-Fried had better luck at math camp, where he got to indulge in his love for puzzles and games. He also met other kids his age who were drawn to utilitarianism, the philosophy that argues that the right decisions in life can be logically quantified. Just ask yourself, which actions will result in outcomes that do the most good to the most people?
Fortunes turned again in college, where, at a job fair, he encountered the financial trading firm Jane Street Capital. The interview process involved games with shifting rules that required quick decisions. He loved it. His time on Wall Street also found his utilitarian beliefs merging with the concept of effective altruism. It gave his life a purpose. Making loads of money made sense, because it meant you could give back, invest in the right causes, and make a real difference in the world.
At Jane Street Capital, Bankman-Fried learned how to make money. His salary for his second year was $600,000 and he stood to make a million-dollar bonus in his third year. But was this enough? He’d come to understand trading on a deep level. As he saw it, there was no reason he couldn’t come up with a better trading firm on his own.
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What is Going Infinite about?
Going Infinite (2023) offers a behind-the-scenes look at the scandal surrounding Sam Bankman-Fried and the epic collapse of his cryptocurrency companies. It aims to answer the question: How can a man go from earning billions of dollars in a matter of years to losing it all in a matter of months?
Going Infinite Review
Going Infinite (2021) by Michael Lewis explores the fascinating world of algorithmic trading and its impact on the financial markets. Here's why this book is worth reading:
- With in-depth research and expert analysis, it offers a comprehensive understanding of the complex world of high-frequency trading.
- The book reveals the intriguing stories behind the rise of algorithmic trading, uncovering the hidden dynamics that drive the financial market.
- Through clear explanations and compelling storytelling, it demystifies the technical aspects of high-frequency trading, making it accessible to all readers.
Who should read Going Infinite?
- News junkies interested in current financial events
- Anyone who likes a good rise-and-fall story
- People curious about the Sam Bankman-Fried trial
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Going Infinite FAQs
What is the main message of Going Infinite?
The main message of Going Infinite is about achieving success through resilience and adaptability.
How long does it take to read Going Infinite?
The reading time for Going Infinite varies, but it typically takes a few hours. The Blinkist summary can be read in just 15 minutes.
Is Going Infinite a good book? Is it worth reading?
Going Infinite is worth reading as it offers valuable insights on overcoming challenges and reaching your full potential.
Who is the author of Going Infinite?
The author of Going Infinite is Michael Lewis.
What to read after Going Infinite?
If you're wondering what to read next after Going Infinite, here are some recommendations we suggest:
- No Time to Panic by Matt Gutman
- Moneyball by Michael Lewis
- The Undoing Project by Michael Lewis
- Flash Boys by Michael Lewis
- Born For This by Chris Guillebeau
- The Black Swan by Nassim Nicholas Taleb
- The First Minute by Chris Fenning
- Superintelligence by Nick Bostrom
- Win Every Argument by Mehdi Hasan
- Hidden Potential by Adam Grant