Throwback to when HN was praising FTX for running so 'lean' and 'efficiently,' only hiring the bare minimum to be successful.
1. "FTX is very well capitalized" - given that August 2021 was in the middle of the crypto bull market, that statement was probably true at the time. Sure, it became poorly capitalized later, but that wouldn't make the comment age poorly, any more than a statement like "the fed has inflation under control" in 2019 would age poorly.
2. "Can you show me even napkin math that shows FTX going under if USDT blows up in a realistic scenario" - FTX blew up for an entirely different reason
The vast majority of their business was based in the Bahamas and Antigua to avoid US regulators
Maybe HN will be finally wrong about crypto one day too