Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Thiel shows why tech billionaires are the new robber barons

reuters.com

Post reply on HN
Print view View original

41–50 of 383 posts

Re: Thiel shows why tech billionaires are the new robber barons

#41

Post by koolba »

Kristine1975 wrote: post #19
bko wrote: post #17

> Litigation finance is typically a business venture. It doesn’t become charity because a wealthy person uses it as a template for a personal crusade and then insists he’s doing everyone else a favor. Why? Many cases brought by individuals or groups on moral grounds have led the way to better governance. A lot of good work has been done by groups such as the Electronic Frontier Foundation. Why should individuals or g…

>These articles attacking Thiel framed as billionaire versus journalists doesn't even mention this fact. This one does though: >As for Gawker, it disseminated a sex tape of a retired pro wrestler. Let’s not pretend that the website did it as part of a great journalistic mission. Gawker did it to lure eyes to its website while smugly saying the First Amendment sheltered it. The author's beef isn't with Thiel using his…

> The author's beef isn't with Thiel using his money to help sue Gawker, but with him considering this to be philanthropic:

>> The problem isn’t the way Thiel used his money. It’s his pretensions about it.

But it is philanthropic, it just doesn't align with the author's idea of philanthropy.

Re: Thiel shows why tech billionaires are the new robber barons

#42

Post by vintermann »

threatofrain wrote: post #28
bko wrote: post #17

> Litigation finance is typically a business venture. It doesn’t become charity because a wealthy person uses it as a template for a personal crusade and then insists he’s doing everyone else a favor. Why? Many cases brought by individuals or groups on moral grounds have led the way to better governance. A lot of good work has been done by groups such as the Electronic Frontier Foundation. Why should individuals or g…

I don't think the problem is the fact that Peter Thiel tossed money in the direction of a lawsuit. The issue is that money matters in justice, and that Peter Thiel coincidentally put his money somewhere did not make this so. People are focusing shame on Peter Thiel today but that's the wrong place. There will always be rich people.

Now, I agree with that. But it's not the argument other people are making. People are saying this is an attack on journalism, and complaining that Thiel could have bankrupted Gawker just by attrition.

Yeah, he could. But that was not in fact what he did. Gawker didn't lose by attrition, they lost a particular case they damn well deserved to lose.

On the other hand, Thiel says Gawker's former victims have been forced to settle for a pittance because of attrition on their end. That sounds entirely plausible.

Money matters in court, by default that favours corporations (including media corporations like Gawker, and their $200-million owner Nick Denton) over all but the richest of individuals. That's the status quo, now the media are upset that it didn't work in their favor for once.

Re: Thiel shows why tech billionaires are the new robber barons

#43

Post by will_brown »

Xylakant wrote: post #34
bko wrote: post #21

Earlier quoted context omitted.

Are more leaked sex tapes used for commercial purposes in the public interest?

Nobody pretended so - which is the whole point. Thiel could have given his money to a foundation that openly sponsors lawsuits for media victioms. That would haven been for the public good. Instead he chose to sponsor the lawsuit (and other lawsuits) against gawker in secret because he feels wronged by them with the intent of punishing them. And that's not in the public interest because it can be considered a form of…

Bollea had a valid legal cause of action and Thiel backed the lawsuit financially...no matter what Thiel's motives isn't working within the confines of the law and availing oneself to their legal rights the complete opposite of vigilantism?

Re: Thiel shows why tech billionaires are the new robber barons

#44

Post by vintermann »

Xylakant wrote: post #34
bko wrote: post #21

Earlier quoted context omitted.

Are more leaked sex tapes used for commercial purposes in the public interest?

Nobody pretended so - which is the whole point. Thiel could have given his money to a foundation that openly sponsors lawsuits for media victioms. That would haven been for the public good. Instead he chose to sponsor the lawsuit (and other lawsuits) against gawker in secret because he feels wronged by them with the intent of punishing them. And that's not in the public interest because it can be considered a form of…

I agree he should rather have been open about it. But for one, it doesn't appear to have been a terribly well-kept secret, and for another, he could easily have hid behind a foundation too.

Re: Thiel shows why tech billionaires are the new robber barons

#45

Post by mukmuk »

plehoux wrote: post #14

This is totally BS. Litigation finance has been around for years, and has been done by all kind of people and organizations for all kind of purposes. Thiel is rich, he does things, there is no causality with 'tech' here. > Maybe it’s time for Silicon Valley to tone things down. To admit that, no, the Valley can’t solve all human problems -- not even close -- and never will. W T F.

Can you point me to some examples where an individual financed litigation against a media outlet or journalist? I don't doubt they exist, but I can't think of any specifically.

Re: Thiel shows why tech billionaires are the new robber barons

#46

Post by devishard »

The fundamental issue here is that rich people can buy the law. It's not as simple as bribery, but it's nearly as effective. The only defense we have against that is when voters and jurors are educated and deeply suspicious of laws and litigation that are bought.

Of course what Gawker did was reprehensible, but I don't need a million-dollar lawyer to tell me that. And when suddenly there is a million-dollar lawyer telling me that, I have to guess there's some other endgame here. My guess is that Thiel is building a template for future litigation. And while it happens to be good for justice in this case, I doubt it will always be so. That is definitely a bad thing.

Re: Thiel shows why tech billionaires are the new robber barons

#47

Post by devishard »

supergirl wrote: post #11

I wonder what's the connection, if any, between the author of the article and Gawker. If he's the same guy I found on Linkedin, he seems to be working for some kind of PR company for hire; also confirmed by the article footnote. I hope nobody takes this article only for what it is but also questions why it is.

Good catch!

Re: Thiel shows why tech billionaires are the new robber barons

#48

Post by kelseyfrancis »

Xylakant wrote: post #34
bko wrote: post #21

Earlier quoted context omitted.

Are more leaked sex tapes used for commercial purposes in the public interest?

Nobody pretended so - which is the whole point. Thiel could have given his money to a foundation that openly sponsors lawsuits for media victioms. That would haven been for the public good. Instead he chose to sponsor the lawsuit (and other lawsuits) against gawker in secret because he feels wronged by them with the intent of punishing them. And that's not in the public interest because it can be considered a form of…

>it can be considered a form of vigilantism

No. Vigilantism is extralegal. A lawsuit is by definition not vigilantism.

Re: Thiel shows why tech billionaires are the new robber barons

#49

Post by bko »

Xylakant wrote: post #34
bko wrote: post #21

Earlier quoted context omitted.

Are more leaked sex tapes used for commercial purposes in the public interest?

Nobody pretended so - which is the whole point. Thiel could have given his money to a foundation that openly sponsors lawsuits for media victioms. That would haven been for the public good. Instead he chose to sponsor the lawsuit (and other lawsuits) against gawker in secret because he feels wronged by them with the intent of punishing them. And that's not in the public interest because it can be considered a form of…

Maybe he did so in secret because he didn't want it to be framed 'billionaire vs journalist'

Perhaps he felt that he was wronged by them and that may be petty, but it doesn't mean that the lawsuit he did participate in is unjust or an unworthy cause.

Re: Thiel shows why tech billionaires are the new robber barons

#50

Post by icebraining »

Xylakant wrote: post #34
bko wrote: post #21

Earlier quoted context omitted.

Are more leaked sex tapes used for commercial purposes in the public interest?

Nobody pretended so - which is the whole point. Thiel could have given his money to a foundation that openly sponsors lawsuits for media victioms. That would haven been for the public good. Instead he chose to sponsor the lawsuit (and other lawsuits) against gawker in secret because he feels wronged by them with the intent of punishing them. And that's not in the public interest because it can be considered a form of…

So the US courts are so corrupt that going through them is considered vigilantism?
Post reply on HN