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Will D.O.J. be satisfied with the heads of Sam, Nishad and Ryan—or will they go further down the totem pole?
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The Stratosphere

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Welcome back to The Stratosphere, and a happy 70th to Puck subscriber Ervin Schleifer in Camden, Delaware.

We have two stories in today’s edition. First, a look at whether any of the political aides who worked for Sam Bankman-Fried face any possible legal exposure from the Department of Justice, which I report has been issuing subpoenas to a number of them. Will D.O.J. be satisfied with the heads of Sam, Nishad and Ryan—or will they go further down the totem pole?

Then, below the fold, a look at a new, controversial strategy from LinkedIn billionaire Reid Hoffman to engage in the 2024 primary—among Republicans. If you’re following the battle between DeSantis and Trump, you’ll want to scroll down for that.

Can’t see the full story? You’re receiving the free version of The Stratosphere at . For full access to Puck, and to each of my colleagues, you can subscribe here.

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S.B.F. Informants & a Strange DeSantis Bedfellow
S.B.F. Informants & a Strange DeSantis Bedfellow
New details on the subpoenas and next cards to flip in the FTX campaign-finance case. Plus, why Reid Hoffman might be offering some unlikely assistance to DeSantis.
TEDDY SCHLEIFER TEDDY SCHLEIFER
Who knew what, and when? In the aftermath of FTX cofounder Nishad Singh’s guilty plea, the haze of paranoia surrounding Sam Bankman-Fried’s former associates has narrowed to that simple question. Last month, with Singh’s cooperation, federal prosecutors unveiled new details of S.B.F.’s alleged straw-donor scheme, depicting a sophisticated and highly choreographed endeavor wherein Bankman-Fried effectively embezzled tens of millions of dollars in customer deposits to Singh and another FTX executive, co-C.E.O. Ryan Salame, to make political contributions in their names. Is it really possible that...
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FOUR STORIES WE’RE TALKING ABOUT
CNN’s Trump Test
CNN’s Trump Test
How would an indictment play in the New CNN & post-Dominion Fox News?
TARA PALMERI & DYLAN BYERS
Woods’s Legal Snafu
Tiger’s Legal Snafu
Dissecting the legal ramifications of the star golfer’s $30 million breakup.
ERIQ GARDNER
A Hollywood Misadventure
A Hollywood Misadventure
Inside the self-financed film by Jeff Bezo’s ambitious companion.
MATTHEW BELLONI
SVB’s Final Days
SVB’s Final Days
The definitive post-mortem on the bank’s harried final days.
WILLIAM D. COHAN
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Latest Articles from Silicon Valley

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Theodore Schleifer • December 5, 2023
The DeSantis Megadonor Panic Room
As his operation falls further into disarray, everyone is pissed at everyone else, and the money guys behind the scenes are having to make tough calls. Plus: a scoop on WhatsApp co-founder Jan Koum’s $5 million investment in Haley.
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Reflections on the anniversary of ChatGPT: the Q star breakthrough, Altman’s ouster, A.I. red lines, and why capital is stronger than containment.
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Theodore Schleifer • November 28, 2023
The G.O.P. Megadonors Come to Jesus
Fear is growing within the Republican billionaire class that the party’s moneymen have lost any ability to elevate an alternative to Trump. Why would things be different for Nikki Haley?


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Theodore Schleifer • November 21, 2023
Altman Alternative Facts
What Sam said at Stanford when confronted about ChatGPT. What people think of Sam’s effective-altruist board member Helen Toner. And what the hell happened at OpenAI.
Daniel Lurie has become something of a boundary-crossing, even contradictory, figure—between the haves and have-nots, the tech workers and the city’s true locals.
Theodore Schleifer • November 14, 2023
The Count of San Francisco
Daniel Lurie, the charming Levi Strauss heir running to be San Francisco’s next mayor, is ideally positioned to be the outrage vessel for the Pac Heights crowd. So why is Silicon Valley skeptical of his campaign?
Former eBay C.E.O. Devin Wenig, whose exorbitant salary and profligate spending were highlighted in reporting by David and Ina Steiner.
Eriq Gardner • November 13, 2023
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Jim Baugh, the former C.I.A. operative convicted of orchestrating a bizarre scheme to silence two eBay critics, blames the company for its toxic culture—and says he was still working as a spy. Now, the Justice Department is claiming that Baugh’s explosive allegations are classified.


Sam Altman has some eclectic views that don’t fit neatly into progressive dogma—but like most liberals in tech, he has been deeply unnerved by the real and growing threat of a second Donald Trump presidency.
Theodore Schleifer • November 7, 2023
President of the Biden-Skeptic Billionaires
Sam Altman, the OpenAI chief, has taken a profound interest in testing which Democrat could best challenge Trump in 2024. After talking with many of the party’s top operatives, he became convinced it was not Joe Biden. But… Dean Phillips?


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Latest Articles from Silicon Valley

There’s never been a defendant quite like Sam Bankman-Fried.
Theodore Schleifer & Eriq Gardner • October 31, 2023
Sam I Am
The financial trial of the century is wrapping up the only way it ever could: with Sam Bankman-Fried betting big on himself.
Elon has developed a reputation among Republican fundraisers during his redpilled era as a political flirt.
Theodore Schleifer • October 24, 2023
The Elon-Vivek Sweepstakes & More Ellisonology
New dish on Musk’s budding presidential bromance, how Larry Ellison ghosted Tim Scott, and a new S.B.F. dark-money casualty.
The Rockbridge Network was co-founded by J.D. Vance and Chris Buskirk, the publisher of the pro-Trump journal American Greatness, in 2019.
Theodore Schleifer • October 17, 2023
Rockbridge Over Troubled Waters
The secretive, Trump-friendly, Silicon Valley-inflected donor alliance is less interested in the Republican primary than in redpilling techies into MAGA populism, hyping Tucker’s new mediaco, and moving millions to the G.O.P. grassroots—the latest effort to replace the Koch-era coalition with something younger and edgier.


Caroline Ellison’s testimony and cross-examination were two of the most jaw-dropping moments of the trial.
Theodore Schleifer • October 13, 2023
Caroline in My Mind
In the trial of S.B.F., the defense set out to blame Caroline Ellison, Sam’s former colleague-turned-paramour-turned-cooperating witness. Was this cross-examination really the best he could do?
Sam Bankman-Fried’s trial has entered its second week.
Eriq Gardner & Theodore Schleifer • October 9, 2023
Will Michael Lewis Testify for S.B.F.?
Views from inside the courtroom during the financial trial of the century.
It’s stunning how quickly every part of life now involves some digital or online interaction, and how haphazard the rollout has been.
Baratunde Thurston • October 8, 2023
Catch-404
The digitization of our lives and livelihoods is leaving millions of Americans—particularly the elderly—on the wrong side of the digital divide. Is it possible to age-proof Silicon Valley?


Sometime in early November, we’ll get an answer to the biggest question of the trial: whether Sam Bankman-Fried testifies, himself, which might not be decided until fairly late in the process.
Theodore Schleifer • October 3, 2023
S.B.F.’s Expected Value Calculation
There are two reasons why Sam let this get to trial, and why he thinks he has a chance at a miraculous outcome. Plus: Reid Hoffman’s war against No Labels, and a new hire at Y Combinator.

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