Michael Lewis has a knack for finding the "guy." You know the one—the quirky, misunderstood genius who sees the world in numbers while everyone else is playing checkers. He did it with Billy Beane. He did it with the big short guys. But when he sat on the porch in Berkeley with a rumpled, frizzy-haired kid named Sam Bankman-Fried, he might have finally met his match. Or, as some critics say, he might have finally been played.
Michael Lewis Going Infinite isn't just a book about a crypto crash. Honestly, it’s a character study of a man who viewed human beings as probability distributions. When it hit the shelves in late 2023—literally the same day Sam’s trial started—the backlash was immediate. People didn't just disagree with Lewis; they were angry. They felt he’d been "suckered" by a con man.
But is that the whole story?
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The Gatsby of Crypto and the $5 Billion Bribe
The book is filled with details that feel like fiction. For instance, Lewis reveals that Sam Bankman-Fried actually considered paying Donald Trump $5 billion not to run for president. Five billion. Just to stay out of the race. Apparently, the Trump camp had a number, but it was out of Sam’s reach. This is the kind of stuff you get when you’re a fly on the wall for two years.
Lewis spent hundreds of hours with SBF. He was there in the Bahamas when the "effective altruists" were living in a $30 million penthouse. He was there when the whole thing turned into a $10 billion hole in the ground.
Critics like Jennifer Szalai from the New York Times argued that Lewis was "stubbornly credulous." They wondered how a financial expert could miss the fact that FTX didn't have a board of directors. Or an org chart. Or, you know, basic accounting. Instead of a fraudster, Lewis painted a portrait of a "savant" who was just really bad at organization.
Why Michael Lewis Going Infinite Still Matters
You’ve probably heard the "Ponzi scheme" labels. They aren't wrong. But Lewis tries to show something different: the mindset that leads to this kind of disaster.
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The Effective Altruism Trap
Sam wasn't trying to buy yachts. He lived in wrinkled T-shirts and slept on beanbags. He was part of a movement called Effective Altruism (EA). The logic? "Earn to give." If you can make $20 billion on Wall Street and save 100 million people from malaria, the math says you must do it.
The problem is that when you start treating morality like a math problem, you might decide that "borrowing" $10 billion in customer funds is a "positive expected value" trade if it saves the world. It’s a chilling look at how high-level intellect can be used to justify absolute chaos.
The Missing Billions
One of the most controversial claims in the book is that the money wasn't actually "gone" in the way people thought. Lewis suggests that if you looked at the assets—including the massive stake in the AI company Anthropic—the exchange was arguably solvent.
- FTX's early days: A pure money-making machine.
- The Schism: When half the staff quit because Sam was too chaotic.
- The Collapse: A bank run triggered by a tweet from a rival.
The Lena Dunham Connection
Believe it or not, the story is far from over. Apple and A24 are currently developing a movie based on the book. And the person writing the script? Lena Dunham.
Yeah, the Girls creator. It’s a wild choice that has the internet buzzing. It tells you that the industry sees this as a human drama, not just a spreadsheet error. They want to capture the awkwardness, the "snotty self-obsessed" vibe of the inner circle, and the sheer weirdness of the Bahamas headquarters where the company psychiatrist was the only one who knew who reported to whom.
What Really Happened with the Trial
While Lewis was promoting the book, the real world caught up. Sam Bankman-Fried was convicted on seven counts of fraud and money laundering. He’s looking at 25 years in prison.
The trial brought out things Lewis didn't—or couldn't—see. Caroline Ellison’s testimony was the nail in the coffin. She claimed Sam "directed" her to use customer money to pay off Alameda Research’s debts. That’s not "oops, I’m bad at math." That’s a crime.
Lessons from the Chaos
If you're looking for actionable insights from this whole mess, forget "buy Bitcoin." The real takeaways are about human psychology and risk.
1. Don't trust the "Genius" Label.
Complexity is often a mask for a lack of substance. If someone can't explain their business model in two sentences, it’s a red flag. SBF relied on being the smartest guy in the room so people would stop asking questions.
2. Audit the Altruism.
Doing good for the world is great. Using it as a PR shield is a classic move. Always look at the mechanics of the business, not just the "mission."
3. Character isn't a substitute for Controls.
Michael Lewis liked Sam. He thought he was a fascinating character. But a "fascinating character" doesn't keep your deposits safe. Professionalism, boards of directors, and independent audits do.
Basically, the book serves as a warning. It’s a story of what happens when we let our guard down because we want to believe in a hero. Whether you think Lewis was "beclowned" or just being a narrator, the book is a masterclass in how easily the world can be seduced by a kid in cargo shorts.
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To get a full grasp on the FTX saga beyond the book, you should cross-reference Lewis's narrative with Zeke Faux's Number Go Up. While Lewis focuses on the "why" and the psychology, Faux focuses on the "what" and the gritty reality of the crypto underworld. Comparing the two gives you the clearest picture of how $32 billion can vanish into thin air.