This post in particular feels like it has aged well and became surprisingly very relevant in the FTX situation. Indeed post-FTX I saw a lot of people who were confidently claiming that you should not take a 51% bet to double or nothing your wealth, even if you have non-diminishing returns to money, and I sent this post to multiple people to explain why I think that criticism is not valid.
This post in particular feels like it has aged well and became surprisingly very relevant in the FTX situation. Indeed post-FTX I saw a lot of people who were confidently claiming that you should not take a 51% bet to double or nothing your wealth, even if you have non-diminishing returns to money, and I sent this post to multiple people to explain why I think that criticism is not valid.