Going Infinite by Michael Lewis cover

Going Infinite

The Rise and Fall of a New Tycoon

by Michael Lewis

4.2(8,869 ratings)
15 min read

Brief overview

This book explores how a brilliant yet unconventional young entrepreneur founded a crypto empire in the name of helping others, only to watch it unravel under the weight of ambition and surprising missteps. It charts his journey from quiet math student to spotlight-hungry billionaire, exposing the mysterious blend of logic, idealism, and personal quirks that fueled his rise and fall.

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Introduction

Welcome to a whirlwind story about a math-savvy newcomer whose almost-religious dedication to helping others shaped his quest to amass and give away a massive fortune. At first, he looked like someone who would quietly crunch numbers behind the scenes. Instead, he found himself in the limelight as the founder of a new kind of crypto empire, poised to revolutionize finance. Along the way, he made improbable deals, donated huge sums to political causes, and attracted celebrities to endorse his dream. Yet behind the scenes, confusion, half-finished plans, and restless improvisation defined his operation. This stark tension between bighearted aspirations and messy realities gives birth to a drama that upends our notions of money, morality, and success.

We begin by exploring the seeds of a brilliant but offbeat mind, a childhood filled with unconventional reasoning, and an early belief that life’s highest goal is to save as many people as possible. This conviction, fueled by a movement called effective altruism, would steer him into big decisions about where to work, what to trade, and how far to push his talents. Through it all, he battled skepticism and forged alliances that would soon become pivotal to his meteoric rise—and eventual crash.

Sometimes, the boldest leaps toward doing good are fueled by the thinnest margin of clarity.

Seeds of Ambition

Our protagonist spent his teen years feeling like an outsider, perplexed by social rituals yet devouring complex math problems with ease. A rebellious streak simmered beneath his subdued exterior: he challenged the idea that literature and subjective experiences mattered. In his mind, everything boiled down to logical steps and probability. These formative years found him at odds with typical childhood interests. School bored him, friendships were scarce, and he questioned every norm. Though quiet, he was insistent on following his own reasoning—both a blessing and a curse that would later shape his business choices.

In college, he discovered the philosophy of effective altruism, which argued that earning large sums of money to improve the world might be more impactful than direct, hands-on volunteering. Enthralled by such rational idealism, he dove in headfirst, choosing high finance as the quickest way to accumulate funds. He was determined to save lives through donations, and it didn’t bother him to step into the grittier world of trading, so long as it served the bigger goal. This mindset would drive him to leave behind safer career paths and launch his own high-stakes enterprise.

When every decision is a probability puzzle, emotions can get sidelined for the sake of logic.

On a practical level, he sought out a high-frequency trading firm that valued brains over polish. There, he excelled in creative problem-solving, swiftly calculating odds and expected returns. Yet even as he thrived among elite traders, he felt drawn to something bolder—an environment where he’d create the rules and funnel profits directly to urgent global needs.

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What is Going Infinite about?

"Going Infinite: The Rise and Fall of a New Tycoon" delves into the fascinating world of cryptocurrency through the eyes of an enigmatic entrepreneur. Michael Lewis expertly unravels the story of Sam Bankman-Fried, a math prodigy turned cryptocurrency mogul whose good intentions spiraled into chaos. From a quiet mathematical genius to a media sensation, Bankman-Fried built and lost an empire, his ambition fueled by a unique vision of effective altruism and charity. This gripping narrative explores themes of ambition, innovation, and the thin line dividing ethical motivation and reckless ambition.

The book reveals the intricacies of how a small operation ballooned into an influential, unprecedented entity before coming to a swift downfall. From his early exploits in trading to the salary-less leap into running FTX, Bankman-Fried’s journey speaks to the unpredictable nature of new-age entrepreneurship. The tale punctuates a cautionary reminder of unchecked idealism and the underlying risks of a nascent financial market, all while providing insight into the human psyche behind towering ambitions.

Review of Going Infinite

"Going Infinite" is a masterclass in storytelling, fusing economic theories with personal narratives to create an engaging tapestry of innovation and turmoil. Lewis masterfully illustrates the enigmatic character of Sam Bankman-Fried, highlighting his brilliant yet flawed persona that mirrors the volatile landscape of cryptocurrency. With clarity and nuanced analysis, the book uncovers how deeply-held altruistic goals became entangled with greed and mismanagement.

The book’s strength lies in its ability to dissect Bankman-Fried’s rise and how his ideologies shaped one of the most talked-about enterprises in the finance world. Its practical takeaways are profound, reminding readers that even well-meaning motives must be augmented by accountability and structured governance. Lewis’s writing is sharp, accessible, and punctuated with humor, appealing equally to financial analysts and casual readers alike.

While it echoes a cautionary narrative prominent in finance, it also speaks to anyone driven by the desire to impact positively. "Going Infinite" provides a vivid landscape for those intrigued by the juxtaposition of ambition and ethics, offering an exhilarating read for market enthusiasts and moral philosophers alike. Michael Lewis certainly proves yet again why he is a titan of narrative non-fiction. Highly recommended for those interested in the complex world of finance and personal motivation.

Who should read Going Infinite?

  • Financial Analysts: Gain valuable insights into the dynamics and risks inherent in emerging financial markets.
  • Entrepreneurs and Start-Up Enthusiasts: Learn from a real-world example of the impact of vision, ambition, and the dangers of unstructured growth.
  • Students of Economics and Finance: Explore intricate trading mechanisms and human behaviors influencing modern economics.
  • Moral Philosophers: Delve into the intersection of altruism, ethics, and overarching ambition.
  • Casual Readers with Interest in True Stories: Enjoy a fascinating tale of a real-life rise and fall, blending economics with human interest.

About the author

Michael Lewis is a renowned American author, columnist, and journalist known for his insightful writings on finance, politics, and sports. He holds a bachelor's degree in Art History from Princeton and a master's degree in Economics from the London School of Economics. With a career spanning over three decades, he has written numerous New York Times bestsellers, including "Liar's Poker," "The Big Short," and "Moneyball," which have been adapted into successful films. His latest work, "Going Infinite: The Rise and Fall of a New Tycoon," delves into the story of Sam Bankman-Fried, offering a psychological portrait and financial roller-coaster ride that showcases Lewis's storytelling prowess.

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