{"id":14257,"date":"2023-02-07T14:02:17","date_gmt":"2023-02-07T19:02:17","guid":{"rendered":"https:\/\/jasonapollovoss.com\/web\/?p=14257"},"modified":"2025-09-05T14:57:20","modified_gmt":"2025-09-05T20:57:20","slug":"data-assessment-of-sbfs-congressional-testimony","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2023\/02\/07\/data-assessment-of-sbfs-congressional-testimony\/","title":{"rendered":"DATA Assessment of SBF\u2019s Congressional Testimony"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text admin_label=&#8221;Text&#8221; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<figure class=\"x-el x-el-figure c2-1 c2-2 c2-3x c2-i c2-h c2-21 c2-2c c2-29 c2-2a c2-43 c2-51 c2-3 c2-4 c2-5 c2-6 c2-7 c2-8\">\n<div><\/div>\n<\/figure>\n<p><span style=\"font-family: futural;\">Last week we provided a Deception And Truth Analysis assessment of Sam Bankman Fried\u2019s New York Times interview with Andrew Ross Sorkin. We concluded that each portion of the transcript that featured his communication was deceptive, though not strongly so, with an aggregate DATA Score of -6.13%. We also promised that we would assess his Congressional testimony given on 13 December 2022 after being arrested in the Bahamas the day prior. What follows is our DATA Assessment of SBF\u2019s Congressional testimony.<\/span><\/p>\n<p><span style=\"font-family: futural;\"><\/span><\/p>\n<div>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">D.A.T.A. Assessment of SBF\u2019s Congressional Testimony<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">In total SBF\u2019s testimony is 7,165 words, or roughly 25 pages in length. In our DATA Assessment we break this testimony up into 5 scorable fragments. Overall, the document scores as truthful at 14.89%,<a class=\"x-el x-el-a c2-2w c2-2x c2-69 c2-v c2-w c2-x c2-j c2-6a c2-3 c2-30 c2-31 c2-11 c2-32\" href=\"https:\/\/blogging.godaddy.com\/blog\/a6d795a4-a672-4120-a6ba-07384a52a2d8\/posts\/743ebbdd-5d5b-4c8d-b4bb-c1880e6d91bd#_edn1\" rel=\"\">[i]<\/a>but 60% of its 5 fragments score as deceptive. Our DATA Assessment may come as a surprise. But deception scientists have found that\u00a0<a class=\"x-el x-el-a c2-2w c2-2x c2-69 c2-v c2-w c2-x c2-j c2-6a c2-3 c2-30 c2-31 c2-11 c2-32\" href=\"https:\/\/gwern.net\/doc\/psychology\/2021-serota.pdf\" rel=\"\">most people, most of the time, do tell the truth<\/a>. Said another way, most people, even those who are suspected of committing fraud do most often tell the truth. That said, there are important sections in SBF\u2019s Congressional testimony in which our DATA Assessment finds that he deviates from the truth.<\/span><\/p>\n<p><span style=\"font-family: futural;\"><\/span><\/p>\n<div>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATAREDline<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">Below is a screenshot of our premium product, DATA<strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">RED<\/strong>line, which shows at-a-glance the running narrative of deceptiveness and truthfulness of SBF\u2019s Congressional testimony. As you can see the following fragments are assessed as deceptive:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: futural;\">Fragment 1 \u2013 DATA Score = ~-15%&#8230;this puts this fragment in the bottom 11.40% of all documents scored by DATA.<\/span><\/li>\n<li><span style=\"font-family: futural;\">Fragment 2 \u2013 DATA Score = ~-25%&#8230;this puts this fragment in the bottom 1.28% of all documents scored by DATA.<\/span><\/li>\n<li><span style=\"font-family: futural;\">Fragment 4 \u2013 DATA Score = ~-25%&#8230;this puts this fragment in the bottom 1.28% of all documents scored by DATA.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: futural;\">\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-family: futural;\">So, what is SBF talking about in his deceptive fragments?<\/span><\/p>\n<p><span style=\"font-family: futural;\"><\/span><\/p>\n<figure class=\"x-el x-el-figure c2-1 c2-2 c2-3x c2-i c2-h c2-21 c2-2c c2-29 c2-2a c2-43 c2-51 c2-3 c2-4 c2-5 c2-6 c2-7 c2-8\">\n<div><span style=\"font-family: futural;\"><img decoding=\"async\" class=\"x-el x-el-img c2-1 c2-2 c2-k c2-21 c2-1x c2-1y c2-29 c2-2b c2-s c2-6b c2-4l c2-3 c2-4 c2-5 c2-6 c2-7 c2-8\" src=\"https:\/\/img1.wsimg.com\/isteam\/ip\/b4167b12-c211-4a45-9c4b-489be14138f8\/SBF%20Congressional%20Testimony%20-%20DATAREDline.PNG\/:\/cr=t:0%25,l:0%25,w:100%25,h:100%25\/rs=w:1280\" \/><\/span><\/div>\n<\/figure>\n<div>\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\"><\/strong><\/span><\/h4>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #1 \u2013 DATA Score of ~-15%<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #1:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: futural;\">His regret at the collapse and bankruptcy of FTX.<\/span><\/li>\n<li><span style=\"font-family: futural;\">FTX\u2019s staff\u2019s inability to access key data.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His willingness to work with authorities investigating FTX\u2019s collapse and the bankruptcy.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: futural;\">In addition to this detail from DATA<strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">RED<\/strong>line, as a deception scientist myself I can also identify that SBF is being uncooperative and certainly displaying his distaste with having to testify before the US Congress in this fragment, as well as Fragment #2, below.<\/span><\/p>\n<p><span style=\"font-family: futural;\"><\/span><\/p>\n<div>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #2 \u2013 DATA Score of ~-25%<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #2:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: futural;\">Additional claims of the inability to access information and his reliance on memory for recall.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His recall of Alameda Research and its investment strategy and positions, including its use of leverage.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His narrative around the collapse of Alameda Research and of FTX.<\/span><\/li>\n<\/ul>\n<div>\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\"><\/strong><\/span><\/h4>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #4 \u2013 DATA Score of ~-25%<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #4:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: futural;\">Apparent Letters of Intent to bail out FTX that are worth billions. If only FTX could be allowed to operate again as an exchange.<\/span><\/li>\n<li><span style=\"font-family: futural;\">The problems are isolated to FTX International and that FTX US is solvent.<\/span><\/li>\n<li><span style=\"font-family: futural;\">That FTX customers were protected from capital loss until Mr. Ray took over the exchange\u2019s Chapter 11 proceedings.<\/span><\/li>\n<li><span style=\"font-family: futural;\">That FTX customers\u2019 assets were protected.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: futural;\">Important in any DATA Assessment of a document is a consideration of its truthful fragments, as well. In the case of SBF\u2019s US Congressional testimony here is the breakdown of the truthful fragments:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: futural;\">Fragment #3 \u2013 DATA Score = ~85%&#8230;this puts this fragment in the top 99.98% of all documents scored by DATA.<\/span><\/li>\n<li><span style=\"font-family: futural;\">Fragment #5 \u2013 DATA Score = ~60%&#8230;this puts this fragment in the top 99.89% of all documents scored by DATA.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: futural;\">Because the overall DATA Assessment finds SBF\u2019s Congressional testimony as truthful, it must be the case that SBF is being very truthful in the above two fragments in order to counterbalance his deceptiveness in the rest of the testimony. So, what is SBF discussing in these truthful fragments?<\/span><\/p>\n<div>\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\"><\/strong><\/span><\/h4>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #3 \u2013 DATA Score of ~85%<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #3:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: futural;\">SBF confesses to his lack of engagement in the company for much of 2022.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His regrets about what he did and how he would do it differently now.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His regret about wanting to communicate better to stakeholders when things began to fall apart.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His regret at signing Chapter 11 paperwork.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His recall of events surrounding the Chapter 11 filing. [Note: the high precision of details including the exact time when he signed certain documents. This contradicts his testimony that he lacked access to important details, such that his Congressional testimony might be negatively affected.]<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: futural;\">To summarize the above fragment, SBF has regrets that the entire collapse of FTX happened.<\/span><\/p>\n<div>\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\"><\/strong><\/span><\/h4>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #5 \u2013 DATA Score of ~60%<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #5:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: futural;\">An enumeration of numerous statements that SBF claims are inaccurate.<\/span><\/li>\n<li><span style=\"font-family: futural;\">His belief that the Chapter 11 executors have overstepped their authority.<\/span><\/li>\n<li><span style=\"font-family: futural;\">That other Chapter 11 executors other than Ray are doing a good job.<\/span><\/li>\n<\/ul>\n<div>\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\"><\/strong><\/span><\/h4>\n<h3 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">Summary of DATA Assessment of SBF Congressional Testimony<\/strong><\/span><\/h3>\n<\/div>\n<p><span style=\"font-family: futural;\">Our Deception And Truth Analysis Assessment of Sam Bankman Fried\u2019s Congressional testimony finds that he is being strongly truthful in expressing his regret that FTX collapsed and his handling of the collapse. It also finds that he is being strongly truthful in expressing his beliefs about the handling of the Chapter 11 proceedings. While he is being strongly truthful about these things, he is also being strongly deceptive about his access to key data about the collapse; his recall of Alameda Research\u2019s investment strategies and how it collapsed; the presence of important safeguards to protect FTX investors; and the presence of financial backers of FTX if it were allowed to continue on as an exchange.<\/span><\/p>\n<p><span style=\"font-family: futural;\"><a class=\"x-el x-el-a c2-2w c2-2x c2-69 c2-v c2-w c2-x c2-j c2-6a c2-3 c2-30 c2-31 c2-11 c2-32\" href=\"https:\/\/blogging.godaddy.com\/blog\/a6d795a4-a672-4120-a6ba-07384a52a2d8\/posts\/743ebbdd-5d5b-4c8d-b4bb-c1880e6d91bd#_ednref1\" rel=\"\">[i]<\/a>\u00a0Recall that DATA Scores range between -100% and +100%, with deceptive scores being negative, and truthful scores being positive. DATA Scores are roughly normally distributed, but with a mean DATA Score of 4.9%. In other words, extreme scores are difficult to attain.<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week we provided a Deception And Truth Analysis assessment of Sam Bankman Fried\u2019s New York Times interview with Andrew Ross Sorkin. We concluded that each portion of the transcript that featured his communication was deceptive, though not strongly so, with an aggregate DATA Score of -6.13%. We also promised that we would assess his [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<figure class=\"x-el x-el-figure c2-1 c2-2 c2-3x c2-i c2-h c2-21 c2-2c c2-29 c2-2a c2-43 c2-51 c2-3 c2-4 c2-5 c2-6 c2-7 c2-8\">\r\n<div>\r\n<div><span style=\"font-family: futural;\"><img class=\"x-el x-el-img c2-1 c2-2 c2-k c2-21 c2-1x c2-1y c2-29 c2-2b c2-s c2-6b c2-4l c2-3 c2-4 c2-5 c2-6 c2-7 c2-8\" title=\"SBF Congressional Testimony\" src=\"https:\/\/img1.wsimg.com\/isteam\/ip\/b4167b12-c211-4a45-9c4b-489be14138f8\/SBF%20Congressional%20Testimony.PNG\/:\/rs=w:1280\" alt=\"SBF Congressional Testimony\" \/><\/span><\/div>\r\n<\/div>\r\n<figcaption class=\"x-el x-el-figcaption c2-1 c2-2 c2-v c2-w c2-3d c2-29 c2-2b c2-4f c2-6c c2-6d c2-6e c2-6f c2-3 c2-6g c2-3e c2-10 c2-3f c2-3g c2-3h c2-3i\"><span style=\"font-family: futural;\">SBF Congressional Testimony<\/span><\/figcaption><\/figure>\r\n<em><span style=\"font-family: futural;\">By Jason Apollo Voss, CFA<\/span><\/em>\r\n\r\n<span style=\"font-family: futural;\">\u00a0\u00a0<\/span>\r\n\r\n<span style=\"font-family: futural;\">Last week we provided a Deception And Truth Analysis assessment of Sam Bankman Fried\u2019s New York Times interview with Andrew Ross Sorkin. We concluded that each portion of the transcript that featured his communication was deceptive, though not strongly so, with an aggregate DATA Score of -6.13%. We also promised that we would assess his Congressional testimony given on 13 December 2022 after being arrested in the Bahamas the day prior. What follows is our DATA Assessment of SBF\u2019s Congressional testimony.<\/span>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">D.A.T.A. Assessment of SBF\u2019s Congressional Testimony<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">In total SBF\u2019s testimony is 7,165 words, or roughly 25 pages in length. In our DATA Assessment we break this testimony up into 5 scorable fragments. Overall, the document scores as truthful at 14.89%,<a class=\"x-el x-el-a c2-2w c2-2x c2-69 c2-v c2-w c2-x c2-j c2-6a c2-3 c2-30 c2-31 c2-11 c2-32\" href=\"https:\/\/blogging.godaddy.com\/blog\/a6d795a4-a672-4120-a6ba-07384a52a2d8\/posts\/743ebbdd-5d5b-4c8d-b4bb-c1880e6d91bd#_edn1\" rel=\"\">[i]<\/a>but 60% of its 5 fragments score as deceptive. Our DATA Assessment may come as a surprise. But deception scientists have found that\u00a0<a class=\"x-el x-el-a c2-2w c2-2x c2-69 c2-v c2-w c2-x c2-j c2-6a c2-3 c2-30 c2-31 c2-11 c2-32\" href=\"https:\/\/gwern.net\/doc\/psychology\/2021-serota.pdf\" rel=\"\">most people, most of the time, do tell the truth<\/a>. Said another way, most people, even those who are suspected of committing fraud do most often tell the truth. That said, there are important sections in SBF\u2019s Congressional testimony in which our DATA Assessment finds that he deviates from the truth.<\/span>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATAREDline<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">Below is a screenshot of our premium product, DATA<strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">RED<\/strong>line, which shows at-a-glance the running narrative of deceptiveness and truthfulness of SBF\u2019s Congressional testimony. As you can see the following fragments are assessed as deceptive:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-family: futural;\">Fragment 1 \u2013 DATA Score = ~-15%...this puts this fragment in the bottom 11.40% of all documents scored by DATA.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">Fragment 2 \u2013 DATA Score = ~-25%...this puts this fragment in the bottom 1.28% of all documents scored by DATA.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">Fragment 4 \u2013 DATA Score = ~-25%...this puts this fragment in the bottom 1.28% of all documents scored by DATA.<\/span><\/li>\r\n<\/ul>\r\n<span style=\"font-family: futural;\">\u00a0\u00a0<\/span>\r\n\r\n<span style=\"font-family: futural;\">So, what is SBF talking about in his deceptive fragments?<\/span>\r\n<figure class=\"x-el x-el-figure c2-1 c2-2 c2-3x c2-i c2-h c2-21 c2-2c c2-29 c2-2a c2-43 c2-51 c2-3 c2-4 c2-5 c2-6 c2-7 c2-8\">\r\n<div><span style=\"font-family: futural;\"><img class=\"x-el x-el-img c2-1 c2-2 c2-k c2-21 c2-1x c2-1y c2-29 c2-2b c2-s c2-6b c2-4l c2-3 c2-4 c2-5 c2-6 c2-7 c2-8\" src=\"https:\/\/img1.wsimg.com\/isteam\/ip\/b4167b12-c211-4a45-9c4b-489be14138f8\/SBF%20Congressional%20Testimony%20-%20DATAREDline.PNG\/:\/cr=t:0%25,l:0%25,w:100%25,h:100%25\/rs=w:1280\" \/><\/span><\/div><\/figure>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #1 \u2013 DATA Score of ~-15%<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #1:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-family: futural;\">His regret at the collapse and bankruptcy of FTX.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">FTX\u2019s staff\u2019s inability to access key data.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His willingness to work with authorities investigating FTX\u2019s collapse and the bankruptcy.<\/span><\/li>\r\n<\/ul>\r\n<span style=\"font-family: futural;\">In addition to this detail from DATA<strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">RED<\/strong>line, as a deception scientist myself I can also identify that SBF is being uncooperative and certainly displaying his distaste with having to testify before the US Congress in this fragment, as well as Fragment #2, below.<\/span>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #2 \u2013 DATA Score of ~-25%<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #2:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-family: futural;\">Additional claims of the inability to access information and his reliance on memory for recall.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His recall of Alameda Research and its investment strategy and positions, including its use of leverage.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His narrative around the collapse of Alameda Research and of FTX.<\/span><\/li>\r\n<\/ul>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #4 \u2013 DATA Score of ~-25%<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #4:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-family: futural;\">Apparent Letters of Intent to bail out FTX that are worth billions. If only FTX could be allowed to operate again as an exchange.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">The problems are isolated to FTX International and that FTX US is solvent.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">That FTX customers were protected from capital loss until Mr. Ray took over the exchange\u2019s Chapter 11 proceedings.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">That FTX customers\u2019 assets were protected.<\/span><\/li>\r\n<\/ul>\r\n<span style=\"font-family: futural;\">Important in any DATA Assessment of a document is a consideration of its truthful fragments, as well. In the case of SBF\u2019s US Congressional testimony here is the breakdown of the truthful fragments:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-family: futural;\">Fragment #3 \u2013 DATA Score = ~85%...this puts this fragment in the top 99.98% of all documents scored by DATA.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">Fragment #5 \u2013 DATA Score = ~60%...this puts this fragment in the top 99.89% of all documents scored by DATA.<\/span><\/li>\r\n<\/ul>\r\n<span style=\"font-family: futural;\">Because the overall DATA Assessment finds SBF\u2019s Congressional testimony as truthful, it must be the case that SBF is being very truthful in the above two fragments in order to counterbalance his deceptiveness in the rest of the testimony. So, what is SBF discussing in these truthful fragments?<\/span>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #3 \u2013 DATA Score of ~85%<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #3:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-family: futural;\">SBF confesses to his lack of engagement in the company for much of 2022.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His regrets about what he did and how he would do it differently now.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His regret about wanting to communicate better to stakeholders when things began to fall apart.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His regret at signing Chapter 11 paperwork.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His recall of events surrounding the Chapter 11 filing. [Note: the high precision of details including the exact time when he signed certain documents. This contradicts his testimony that he lacked access to important details, such that his Congressional testimony might be negatively affected.]<\/span><\/li>\r\n<\/ul>\r\n<span style=\"font-family: futural;\">To summarize the above fragment, SBF has regrets that the entire collapse of FTX happened.<\/span>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">DATA Assessment of Fragment #5 \u2013 DATA Score of ~60%<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">SBF discusses the following key themes in Fragment #5:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-family: futural;\">An enumeration of numerous statements that SBF claims are inaccurate.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">His belief that the Chapter 11 executors have overstepped their authority.<\/span><\/li>\r\n \t<li><span style=\"font-family: futural;\">That other Chapter 11 executors other than Ray are doing a good job.<\/span><\/li>\r\n<\/ul>\r\n<div>\r\n<h4 class=\"x-el x-el-h4 c2-6h c2-6i c2-v c2-w c2-42 c2-2c c2-2a c2-29 c2-2b c2-3 c2-z c2-44 c2-10 c2-45 c2-46 c2-47 c2-48\"><span style=\"font-family: futural;\"><strong class=\"x-el x-el-span c2-2w c2-2x c2-3 c2-65 c2-13 c2-3v c2-66\">Summary of DATA Assessment of SBF Congressional Testimony<\/strong><\/span><\/h4>\r\n<\/div>\r\n<span style=\"font-family: futural;\">Our Deception And Truth Analysis Assessment of Sam Bankman Fried\u2019s Congressional testimony finds that he is being strongly truthful in expressing his regret that FTX collapsed and his handling of the collapse. It also finds that he is being strongly truthful in expressing his beliefs about the handling of the Chapter 11 proceedings. While he is being strongly truthful about these things, he is also being strongly deceptive about his access to key data about the collapse; his recall of Alameda Research\u2019s investment strategies and how it collapsed; the presence of important safeguards to protect FTX investors; and the presence of financial backers of FTX if it were allowed to continue on as an exchange.<\/span>\r\n\r\n<span style=\"font-family: futural;\"><a class=\"x-el x-el-a c2-2w c2-2x c2-69 c2-v c2-w c2-x c2-j c2-6a c2-3 c2-30 c2-31 c2-11 c2-32\" href=\"https:\/\/blogging.godaddy.com\/blog\/a6d795a4-a672-4120-a6ba-07384a52a2d8\/posts\/743ebbdd-5d5b-4c8d-b4bb-c1880e6d91bd#_ednref1\" rel=\"\">[i]<\/a>\u00a0Recall that DATA Scores range between -100% and +100%, with deceptive scores being negative, and truthful scores being positive. DATA Scores are roughly normally distributed, but with a mean DATA Score of 4.9%. In other words, extreme scores are difficult to attain.<\/span>","_et_gb_content_width":"","footnotes":""},"categories":[3,465],"tags":[454,455],"class_list":["post-14257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-blog","category-d-a-t-a","tag-case-studies","tag-data-assessment"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/14257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=14257"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/14257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media\/14258"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=14257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=14257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=14257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}