Earlier quoted context omitted.
No, at any point "Hogan" could have settled his case instead of take it to trial. Thiel did not have any influence over litigation decisions (accept settlement vs go to trial), just as Legalist would have zero influence over litigation decisions. Alternatively, besides speculation Thiel had influence, in the face of Rules of Professional Responsibility that would result in the disbarrment of "Hogan's" lawyers, explai…
Quite simply, a bank would have done a risk analysis and quickly pushed for a settlement, whereas Thiel was motivate by hatred, and the kind of entitlement which comes from power and wealth. He was to happy to carry all the risk and let Hogan reap the rewards give the reward to Hulk out of pure hatred for Nick Denton. Decision makers at banks always report to somebody. Thiel knows that being a billionaire means that…
That is exactly what is wrong with this whole line of thinking. Whether an unbiased bank or likely biased Thiel (in that case) neither would legally be allowed to dictate any of this, it is all between the litigant (Hogan) and his lawyer. Further, there would be no incentive to listen to either Thiel or a bank before ones own lawyer, $10M financing or not, one will not cut their nose of despite their face. In fact this is a fine example, if Hogan were to have accepted a quick settlement, instead of listening to his lawyers, it would have been the wrong choice as he received more at trial.