Silicon Valley May Never Learn Its Lesson

Over and over during Sam Bankman-Fried's trial, lawyers showed pictures of the FTX founder living his best life. There he was at the Super Bowl flanked by Katy Perry and Orlando Bloom. There he was on a private jet, sleeping with his hands folded. There he was onstage, in shorts and a T-shirt, with Bill Clinton and Tony Blair. The very traits that made him a cause célèbre in Silicon Valley--his intellect, his obsession with scale, his story--turned into liabilities.