Going Infinite: The Rise and Fall of a New Tycoon

In Going Infinite, the theme of money as a moral tool is explored through the lens of effective altruism. Sam Bankman-Fried, the central figure in the book, embodies this philosophy: He accumulated vast wealth to ostensibly do good in the world. This approach challenged conventional notions of morality tied to wealth. However, Sam and the effective altruists who surrounded him may not have aligned with traditional ideas of altruism. Instead, they displayed a complex moral landscape, contrasting their intentions with their actions, their disinterest in people, and their extravagant spending habits, all of which undermined their altruistic ideals.

EA is a philosophy that advocates making money with the intention of using it for the greater good. Sam Bankman-Fried, an effective altruist, accumulated considerable wealth through his cryptocurrency exchange, FTX, with the aim of addressing global problems. This approach challenges the traditional perception of morality in relation to wealth, as Sam’s actions prioritize the potential good that can be achieved through his financial success.

A stark contrast emerges in Lewis’s depiction of Sam’s EA employees. Despite their professed intentions to do good, they displayed a lack of genuine care for people, focusing instead on revenge against Sam and prioritizing potential future problems over real immediate concerns. Lewis describes how the EA movement shifted over time:

You might think that people who had sacrificed fame and fortune to save poor children in Africa would rebel at the idea of moving on from poor children in Africa to future children in another galaxy. They didn’t, not really—which tells you something about the role of ordinary human feeling in the movement. It didn’t matter. What mattered was the math. Effective altruism never got its emotional charge from the places that charged ordinary philanthropy. It was always fueled by a cool lust for the most logical way to lead a good life (188).

While EAs claimed that math was most effective path toward doing good in the world, Lewis argues that their lack of feeling manifested in cold and vengeful interpersonal relationships; many EAs who left Alameda Research were focused on bankrupting Sam and getting as big of a severance package as they could.

Furthermore, the effective altruists’ ostensible morals are juxtaposed with their extravagant spending habits, careless bookkeeping, and possible criminal activity. While Sam and the other EAs claimed to be using money as a moral tool, their lavish spending and negligent financial management challenged the sincerity of their altruistic mission. Their actions undermined the ethical foundation of their wealth accumulation, as they seemed more interested in personal gain and revenge than in making a positive impact.

While Going Infinite delves into the theme of money as a moral tool through the lens of effective altruism, the effective altruists in the book complicated this perspective by displaying a lack of genuine care for people, extravagant spending, and a disconnection from their supposed moral ideals. This contrast highlights the complexity of the relationship between money, morality, and altruism, shedding light on the blurred lines between genuine altruism and self-serving actions in the pursuit of wealth.