Elon Musk and Sam Bankman-Fried included among worst techno bosses of 2022

The Guardian named former FTX CEO Sam Bankman-Fried and Telsa owner Elon Musk as some of this year’s most failing tech CEOs

Founder of FTX Sam Bankman-Fried and the largest shareholder of Tesla, Elon Musk, became one of the baddest executives of technology companies this year. According to UK edition of The Guardian. In addition to them, the list of the worst tech company bosses also included the head of Meta Platforms, Mark Zuckerberg, and the head of Amazon, Jeff Bezos.

The Guardian notes that the last few decades have been quite successful for America’s top tech executives. But in 2022 the situation worsened. Social networking company Zuckerberg and Amazon Bezos laid off thousands of employees. And Elon Musk showed a truly impressive level of incompetence at Twitter . And Bankman-Fried became notorious for the catastrophic collapse of his exchange.

Zuckerberg’s stock plummeted $230 billion in one day in February of this year. Which was a national record. Nine months later, he told employees that he misjudged the situation and fired 11,000 people.

Jeff Bezos spent this year laying off thousands of people at Amazon. And was busy promoting his “favorite project,” the Alexa voice assistant. Bezos’ employees recently said Alexa was a “colossal failure.” And that project is now experiencing significant difficulties.

Elon Musk made the list of worst executives after his actions as Twitter’s CEO. Dismissals, imposing and reversing rules, blocking and unblocking. All of these have ruined his reputation as a competent manager. According to journalists, from the outside his actions look like a disaster, but Musk “shows every sign that he is enjoying himself.”

The list also includes former Twitter executive Parag Agarwal. And Elizabeth Holmes, the founder of the instant blood test device company Theranos. Earlier this year she was convicted of fraud and sentenced to 11 years in prison.

Our experts note that the last and one of the worst (on a par with Holmes) executives the publication calls Sam Bankman-Friede. And it is not surprising because just a few months ago his cryptocurrency exchange FTX was one of the largest in the industry, but it collapsed.

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Former FTX head Sam Bankman-Fried is placed in notoriously bad conditions at Fox Hill Prison

Former FTX head Sam Bankman-Fried is sent to the only prison in the Bahamas. There, due to a shortage of space, some inmates just awaiting trial end up in high-security wings. Review of Crypto-Upvotes experts

Former FTX head Sam Bankman-Fried is headed to the notoriously poor conditions of the Bahamas’ Fox Hill prison. After a court ordered him into custody and denied him bail, Business Insider reports.

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange, was detained in the Bahamas on Dec. 12 upon official request from the U.S., where criminal charges were filed against him. Bankman-Fried is charged with several counts. These include scam, money laundering and campaign finance violations.

While awaiting extradition to the U.S., Sam Bankman-Fried will spend time in the Bahamas’ only prison. Fox Hill Prison, notoriously overcrowded and unsanitary. A judge has ordered that he be sent to that prison. Where he will first be held in the medical ward.

The Bahamas has one of the highest incarceration rates in the world. Thus, according to the U.S. State Department’s 2020 Human Rights Report, there were 409 prisoners per 100,000 people. The University of Lausanne calculates that the average for the Council of Europe’s 48 prison administrations as of January 2020 was just over 103 inmates per 100,000.

Conditions of confinement at Fox Hill prison

Due to the large number of prisoners in the Bahamas, Fox Hill is overcrowded. As a result, conditions are declining. Lack of space and overcrowding have led to some inmates simply awaiting trial being placed in a maximum-security unit. Local attorney Romona Farquharson told The Wall Street Journal.

Inmates are supposed to go outside for an hour a day, the lawyer said, but because of staff shortages, there are periods when inmates see only 30 minutes of sunlight a week.

The U.S. State Department’s Human Rights Report on the Bahamas. Which was published in 2021, reports that, according to Fox Hill inmates. They had to scavenge with buckets and were forced to lie on the hard ground for long periods of time.

The report says there is an infestation of rats, maggots and insects in the small cells of the high-security unit. They have no mattresses, no toilets, and can hold up to six inmates at a time. Detainees complained of poor food and denial of prompt medical care.

Sam Bankman-Fried applied for bail Dec. 13. But a justice of the peace in the Bahamas denied the request. The trading platform founder was deemed a flight risk and detained until at least Feb. 8, 2023, when his case will resume.

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