How The Crypto Cookie Crumbles…

Review of Michael Lewis’s Going Infinite: The Rise and Fall of a New Tycoon

Michael Lewis’s Going Infinite: The Rise and Fall of a New Tycoon delves into the personality of Sam Bankman-Fried, founder and CEO of the now bankrupt FTX crypto exchange and Alameda Research, exposing the once-time world’s youngest billionaire as the Crypto-King with No Clothes… or maybe just in a rumpled t-shirt, cargo shorts and limp white socks.

Author Michael Lewis is a prolific and award-winning writer in the realm of business, finance, and economics—with an innate skill to find the human factor at the core. He was born in 1960 in the city of New Orleans, LA, to community activist Diana Monroe Lewis and corporate attorney, J. Thomas Lewis. He attended Isidore Newman, a co-ed nondenominational private school in New Orleans, then went on to Princeton University and graduated with a B.A. in art and archaeology in 1982. With no particular job prospects, Lewis enrolled in the London School of Economics, and received an MA in economics in 1985. With economics degree in hand, Saloman Brothers hired him as a bond salesman for their London office, infusing Lewis with a bounty of material for his itch for writing, both as a journalist for heavy-hitters such as The Economist and The Wall Street Journal, and as a prolific non-fiction author.

Lewis’s first book, inspired by his experiences in the mortgage-backed bond world, was Liar’s Poker (1989), followed by (abbreviated list): The New New Thing (1999), Moneyball (2003), The Blind Side: Evolution of a Game (2006), The Big Short: Inside the Doomsday Machine (2010), Flash Boys (2014), The Fifth Risk (2018) and The Premonition: A Pandemic Story (2021). The Blind Side, Moneyball and The Big Short were all adapted into successful feature films.

Lewis has a storied career of exposing the idiocy and, at times, the insanity beneath the Fellini-like spectacles of the top 1% of society. But in October, 2023, Lewis dropped his book, Going Infinite: The Rise and Fall of a New Tycoon, based on the story of Sam Bankman-Fried, CEO of FTX until it all came tumbling down. In Going Infinite, Lewis describes Bankman-Fried as a brilliant man-child playing a high stakes game of ‘King of the Mountain’ atop a pile of crypto coins.

Cryptomania

There’s always the ‘new thing’ in the world’s financial systems, but the advent of unregulated cryptocurrencies adds a new level of volatility in our financial systems—sadly, we ever appear doomed to repeat history. As early as the 1600s, a hysteria blossomed in The Netherlands with a Dutch tulip market frenzy, affectionally dubbed, Tulipmania, in which fortunes were won and lost with the toss of a bulb. Seems bizarre, but with the array of crypto coins, it’s as if this new game is played with an ever changing ‘Tulip’, creating a multi-dimensional roller-coaster of mania.

From what I can discern, the major difference between the events leading up to ‘The Big Short’ and the Great Recession, versus the cryptocurrency meltdown, is that the crypto tycoons haven’t really cracked the US market and, at least as yet, haven’t fully seeped into the lobbyist system compared to the deep reach of Wall Street. However, the silver-lining of the FTX trial and conviction may be setting a legal precedence before the crypto lobbyists get a foothold into Congress.

Going Infinite

Lewis’s book begins by excavating Bankman-Fried’s childhood of isolation and game playing; a kid raised by professorial parents, perhaps in an atmosphere where reality and accountability were less valued than gaming… or the rule of law. As the story progresses, Lewis paints a portrait of Sam Bankman-Fried as, in some form or fashion, a savant man-child on a spectrum, who then surrounds himself with a motley crew of tech geeks—none of whom seem to truly understand the nuts and bolts of running a billion-dollar enterprise.  However, these courtiers, after the money disappears, ultimately turn on Bankman-Fried, celebrating his demise like the kiddoes in William Golding’s novel, Lord of the Flies. Though under appeal at the time of this writing, the jury in the New York court case found Bankman-Fried guilty on all counts—but whether he purposely defrauded his investors through FTX and Alameda Research or that the business was grossly mis-managed is almost beside the point—the money is still in the ether. Or in someone’s offshore account.

So, at the end of the day, what is Sam Bankman-Fried’s true personality—is he a misunderstood genius, clueless as to corporate governance—or is he a sociopath and conman? Two things can be true at once. As Lewis unveils his deep-dive into Bankman-Fried, he portrays an intriguing young man running a multi-billion-dollar crypto business like a complex game, making up the rules as he went along. Christina Rolle, the Bahamas chief financial regulator, instrumental in effecting the country’s ‘open for business’ crypto stance, was quoted in Lewis’s book, as the end of FTX was near:

“It’s not hard to see you are being played by him [SBF], like a boardgame.”

It appeared that everything and everyone in Sam’s life was simply a game to be played.

Was the world simply distracted by the metronome of Bankman-Fried’s bouncing knee, seeing the ‘cool’ image rather than the man? In the financial world, due diligence is a basic requirement to analyze the veracity of company assets—and yet, if the assets are in crypto, evaluating worth can be as deceptive as a game of three-card monte. But, hey, that’s how the crypto cookie crumbles…

K.E. LANNING is an author and award-winning screenwriter, including a climate-fiction trilogy titled, The Melt Trilogy: A Spider Sat Beside Her, The Sting of the Bee, and Listen to the Birds. She has two works of commercial literary fiction in progress: Where the Sky Meets the Earth and The Light of the Sun. In addition, she’s published a series of book reviews and author interviews, including authors Emily St. John Mandel, Kazuo Ishiguro, Hugh Howey, Margaret Atwood, Andy Weir, Claire Vaye Watkins, and Cixin Liu.

All aboard?

Well, kids, a few bits and pieces to tell you about… With encourage and feedback from two award-winning screenwriters, Brian Weakland and Terry Gau, I wrote the TV Pilot for A Spider Sat Beside Her as a part of a limited series (THE MELT). Script in hand, I was then invited to join a screenwriters’ group of over 30 years, which has spawned talents such as Vince Gilligan of BREAKING BAD and BETTER CALL SAUL. Needless to say, I’m delighted to be a part of the Virginia Screenwriter’s Forum.

With a leap of faith, I entered the pilot screenplay into a slew of screenwriting contests. A few days ago, I was notified that the script for A Spider Sat Beside Her had won the Best TV Pilot Screenplay Award for Drama from the New York Screenwriting Awards … Wow! Cross fingers that I’m on track with this puppy, and a few more contests fall my way!

Now to get back to my current novel in progress…



JD DeHart Interview with K.E. Lanning on Writing

JD DeHart is a poet, author, and reviewer—he kindly asked to interview me in 2018, but life got involved, I’m only now publishing it on my blog! This interview was just after I’d completed the first book in The Melt Trilogy, A Spider Sat Beside Her, and I was writing the second book, The Sting of the Bee. (JD DeHart’s Interview Questions in Bold)

What drives you to write?

All my life, I’ve been an explorer of ideas—like nuggets of gold, ideas are the jewels of the mind. A creative drive has always been within me; drawing, photography, and even directing an art gallery for several years, but my degree in physics honed my mind to be deductive in thought.

For me, writing is the culmination of all of my creative juices and the desire to dig into the human condition within the framework of a novel. A Spider Sat Beside Her is my debut novel, and the first book within a trilogy of novels on the relationship of humans to the Earth.

 What would you like readers to know about your books?

I want readers to come to these novels with an open mind, but leave them with ideas to take away. World building is unique to science fiction and the first novel, A Spider Sat Beside Her, constructs my post-Melt world, and the story is set in motion by these global warming events.

In A Spider Sat Beside Her, with a global event like the catastrophic melting of the ice caps, I needed to convey prospective, so I wrote a series of vignettes, inspired by John Steinbeck’s Grapes of Wrath, where he utilized a narrator’s voice and disembodied voices within the novel to convey the broader context to the Joad family’s story of migration.

Once I build a world, I develop plot using both projections into the future and historical events, because history always repeats itself, given the same catalysts. The entire trilogy is also about what could be—Antarctica being a fresh canvas—I’ve created a world where humans are in balance with nature . . . until some of them decide to take advantage of the fragile power structure.

 Please describe your writing process.

I am a non-linear writer—I write in circles rather than in a straight line. I start with a concept and play with that for a while, to develop the big picture. Once I have the setting and initial idea of main characters, then the story begins to roll. In the novel I’m currently writing, The Sting of the Bee, the human urge to escape from a decrepit ‘Old World’ to a ‘New World’ is the seed of the story.

In nuts and bolts, I begin the story for several chapters, then jump to the end, and then return to the middle to complete the manuscript. It’s traditional building of a novel with skeleton, meat, and skin, but perhaps in a different sequence. I’ve found that figuring out the conclusion helps me determine the middle, and also aides with devices such as foreshadowing. I do multiple passes through the manuscript to expand thin spots and create smooth transitions. Many times I have epiphanies of what the novel is trying to say, and add accordingly.

 What advice would you offer young writers?

Read the classics, fiction and non-fiction, including writers such as Henry David Thoreau, Margaret Mead, and Malcolm Gladwell. Understand human behavior, economics, science, and politics, to help you to create a novel that has depth and significance. You can have beautiful prose, but it must strike the reader’s heart and mind or, like the old saying, it’s dust in the wind.

Study the craft of writing and endeavor to make your word, your sentence, your paragraph, your chapter—your novel, the best it can be. Figure out your weaknesses and find people to augment those. Develop a very thick skin—it’s not about you—it’s about the writing. Be obsessive, but get it out there.

 What are you reading and writing now?

I am currently reading The Year of the Flood, by Margaret Atwood; such a fantastic author!

As far as writing, I am completing the second book in my trilogy, The Sting of the Bee, which is scheduled to launch next year. Weirdly enough, this was the first story I wrote, but I wanted to publish A Spider Sat Beside Her prior to The Sting of the Bee, partially to develop the stage for the subsequent books. However, all of the books within the trilogy are standalone; I didn’t want to leave the reader with a cliffhanger, but have a satisfying ending to each book.

 Where can we learn more about you and your books?

I have a website: www.kelanning.com and you can subscribe there to receive published blog articles and updates on my novels. I also have author pages on Goodreads and Amazon.

Thanks so much, JD, for the interview!

K.E. Lanning

Originally published on JD DeHart’s blog and check out JD DeHart's Amazon page

Amazon Links to THE MELT TRILOGY:

A Spider Sat Beside Her

The Sting of the Bee Listen to the Birds

Trilogy3DBookswithTrilogyTitleBelow2021.jpg


Perdido Street Station—the 20th anniversary of China Miéville’s critically acclaimed novel.

Where Fiction gets Weird

Author China Miéville, photo courtesy of Mic Cheetham Agency

Author China Miéville, photo courtesy of Mic Cheetham Agency

Celebrating its twentieth anniversary, China Miéville’s award winning Weird/urban fantasy novel, Perdido Street Station (2000, Macmillan), is the opening salvo of his fictional world of Bas-Lag, a strange slurry of magic, steampunk, and post-modern enigmas. The second novel in the trilogy, The Scar, was published in 2002, and the final book, Iron Council (2004), completes the New Crobuzon trilogy.

New Crobuzon
By China Miéville

China Miéville has received multiple awards for his works: the Arthur C. Clarke Award (three times), the World Fantasy Award, the British Fantasy Award (twice), the Hugo Award, the Locus Award (four times), the Kitschies, the BSFA Award and multiple nominations for various literary awards, including the prestigious Nebula Awards. His most notable works are: Perdido Street Station, The City & The City (2009), and Embassytown (2011), winner of the Locus Award for Best Science Fiction Novel in 2012. The City & The City, particularly relevant to our current political and social chaos, was adapted for a BBC television series in 2018:

Miéville sites multiple authors as influences in his writing, most notably, M. John Harrison, Mervyn Peake, Michael de Larrabeiti, and Ursula K. Le Guin. Miéville’s debut novel was King Rat (1998), an urban fantasy novel set in London during the end of the twentieth century, and nominated for both the Bram Stoker Award and the International Horror Guild Award in their First Novel category. Within the spectrum of fantasy writings, Miéville is firmly on the urban surrealism end as opposed to the Tolkien end of the genre. He is a prolific writer, not afraid to cross genres, and terms his novels simply as “Weird Fiction.”

So who is the illusive China Miéville? Besides being a fantasy fiction writer, he’s political activist, and an academic. Miéville was born in Norwich, England in 1972 and spent most of his early years in northwest London. His first name, China, springs from his parents’ desire for a beautiful first name, perusing a dictionary until they found the word China. His father left after his birth and he was raised by his American mother, Claudia, a writer, translator, and teacher. He credits playing Dungeons & Dragons as a youth for influencing the fantastical premise of his novels.

Miéville attended Oakham School in Rutland, England, and after graduation, taught English in Egypt for a year, developing an interest in Middle Eastern culture and politics. He received an undergraduate degree in social anthropology at Clare College in 1994, then a masters and PhD in international relations from the London School of Economics in 2001. During his graduate studies, he became disillusioned with materialistic aspects of capitalism and became a Marxist. His political bones become subtle threads within his novels, highlighting the abuse of power, bigotry, and the stratification of economic classes within society.

Perdido Street Station launched Miéville onto the sci-fi fantasy stage with creatures so detailed in their descriptions that you can almost feel the drool on the page. Miéville pings the end of the spectrum of ‘exotic’ in his sculpting of creatures, adding a dimension with his Remades, a cast of surgically altered beings. Beneath the rustle of feathers and the skin prickling insect-humanoids, are there metaphorical intentions of his creatures? Though Miéville distances himself from overt political content, eddies of social commentary lie beneath the surface. Miéville explores the human condition as his main character, Isaac, faces racism in his relationship with Lin, an exo-skeletal humanoid, while veins of corruption ooze through the city of New Crobuzon. In Perdido Street Station, the Construct Council, a sentient machine comprising myriads of small appliances (a corporate entity?), manipulates subtle control within the city, but ultimately helps in the fight against a monstrous species of deadly slakemoths.

The enduring success of Miéville’s works underscores a deep hunger for Weird fiction, a genre rooted in the works of Edgar Allan Poe. In the angst of the 1990s, Weird fiction met urban fantasy, and in 2002, in the introduction to China Miéville's novella, The Tain,  M. John Harrison is credited with creating the term "New Weird." Rose O'Keefe of Eraserhead Press claims that "People buy New Weird because they want cutting edge speculative fiction with a literary slant.” Authors Jeff and Ann VanderMeer define the New Weird genre in their introduction to the anthology, The New Weird, as "a type of urban, secondary-world fiction that subverts the romanticized ideas about place found in traditional fantasy, largely by choosing realistic, complex real-world models as the jumping-off point for creation of settings that may combine elements of both science fiction and fantasy."

Miéville takes Weird fiction to its illogical and glorious end, taking our breaths away with his incredible worlds of urban fantasy. Perdido Street Station released twenty years ago? It seems like yesterday…


K.E. Lanning

Author of: The Melt Trilogy: A Spider Sat Beside Her, The Sting of the Bee, and Listen to the Birds


Author K.E. Lanning Interview on PBS for The Melt Trilogy

Sharing a novel with readers is one of the best parts of being an author! I was privileged to be asked by my local PBS station to do an interview for The Melt Trilogy: A Spider Sat Beside Her, The Sting of the Bee, and Listen to the Birds. So gentle readers, without further ado, here’s the interview which first aired on 1/14/2020:

Rose Martin of Write Around the Corner Interviews author K.E. Lanning. First aired on January 14, 2020 on Blue Ridge PBS

Rose Martin of Write Around the Corner Interviews author K.E. Lanning. First aired on January 14, 2020 on Blue Ridge PBS

I hope you enjoy it, and please forward as you will! Link url: https://www.pbs.org/video/write-around-the-corner-k-e-lanning-x8easy/

Now I have to get back to finishing my next novel, Where the Sky Meets the Earth - my editor awaits!

Best wishes for 2020 and welcome to a new decade!

K.E. Lanning