Rapid decline of FTX could be mirrored by the Tory party: Bird Lovegod

The Ponzi scheme lookalike FTX crypto exchange experienced this cycle in quicktime.

Founded in May 2019, by January 2022 it was valued at $32 billion. Today it’s worth much less than nothing and is instead a huge liability where the autopsy of what went wrong is only just beginning. That was quick.

Mind you, the record for losing other people's money in record time is still currently being held by the vastly incompetent and totally unrepentant Liz Truss.

Her ‘mini budget’ – and let’s all give thanks that it was only a mini version and not the maxi one – cost the UK £30 billion pounds.

Yes, in just seven weeks she managed to lose so much money that the UK taxpayers must now be crushed under the heel of Tory austerity for the next two years. Again.

How she can show her face in Parliament, let alone public, is a mystery.

At least SBF, Sam Bankman-Fried, the man behind FTX has had the common decency to go dark, although that won’t last as he’s about to spend the decades in a legal quagmire mud wrestling every three lettered agency in the USA which probably won’t be quite as much fun as it sounds.

And here comes a new contender, it’s Elon Musk, now performing a living autopsy on the monster he once so loved, sacking everyone who doesn’ t swear fealty to hardcore labour.

I’d reach out to Twitter to comment on this article but the comms team isn’t there anymore.

Perhaps Twitter doesn’t need staff at all. Perhaps the decentralised delusions of Web3 and crypto can be somehow applied.

Let the people run Twitter, let it be free from all constraints, and norms, and laws, let it find its own way and run wild without content moderators. Or advertisers. Or people to turn the lights off at the now closed offices

All it really needs is a few geeks to make sure the code hangs together, they can be rehired, and a guy to count the money as it burns to zero and beyond. I hear Kami Kwazi is open to work, and knows exactly how to do as he’s told.

People and power. So funny, so tragic.

Our Government is currently in the same birth to death cycle, clearly in the decline o'clock quadrant. It’s funny when it’s not upsetting and very expensive, to watch what was a serious and credible political party crumble and yes soon it will certainly fall into demise and decomposition. I think we may be witnessing the last years of the Conservatives, like the last few white rhinos, only less sad.

They came, they lived, they fed at the trough, they had their time, and now they are dying away, to be replaced by something more suited to a modern age. Rishi Sunak doesn’t give the impression of leading the Tory Party to victory because he’s not, he’s managing its decline.

Rishi is an accountant. He is a good man for the current managed decline of the Tory Party, and with it the managed decline of the UK.

Mummy, why must political parties die? Because they deserve to, dear. Now eat your gruel.

Bird Lovegod is MD of EthicalMuch