281–290 of 291 posts
I still can't believe this guy gets to walk away with 1.7 billion dollars just for building up fluff while all the people who helped him grow have dire consequences both financial and personal. Unbelievable that this guy gets a clean chit, and all this isn't considered criminal. This to me is almost at the scale of Theranos. Only, this guy was smarter in the legal side of things, perhaps.
For it to be like theranos the offices wouldn't exist.
Surprising absolutely nobody. Meanwhile, Adam Neumann is still collecting a $1.7 Billion payout.
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I'd love to see you try. It's easy to turn $20 into $40, but as you approach larger numbers it keeps getting harder.
Looks like you've got it backward - as long as your $16b doesn't turn into $8b (negative fifty percent), you're doing better than this guy. If you put the $16b in any kind of mutual find, you're going to get a positive return, even if it's a single digit percentage, and it'll be much better than this guy.
So the odds are lower and the timescale is longer, but you could still lose more, potentially.
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I don’t really see why it’s his fault investors over valued his company — he believed in his own spin and was phenomenally successful at building a large, real business. This was not like Theranos where he was straight up lying about a product working — anyone could analyze the business based on the fundamentals, and investors seemed ever willing to invest at high valuations. The self dealing was reprehensible and ev…
Agreed. This is the direct and intended result of a society which values those with money (investors) over those without money (people who invest their time, talent and effort). He did nothing wrong in this society, so maybe we ought to fucking change society.
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I mean, if your lifestyle doesn't require the full payment, you can think of it as a half-pay long vacation. I for one wouldn't mind being unemployed for 3 months.
> I for one wouldn't mind being unemployed for 3 months. A 3-month hole in your resume will be something you'd have to explain to your future employers for the rest of your life.
Whenever there are unreasonable rules and you really do want to get around them, all you have to do is find a way to demonstrate your talent sufficiently that people will bend them for you.
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I'd love to see you try. It's easy to turn $20 into $40, but as you approach larger numbers it keeps getting harder.
Completely untrue. Even if all you do is take advantage of the investment opportunities that someone with, say, a million dollars get access to that someone with 20 doesn't, it's easy to grow large amounts of money. "To turn $100 into $110 is work. To turn 100 million into $110 million is inevitable". Edgar Bronfman
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Looks like you've got it backward - as long as your $16b doesn't turn into $8b (negative fifty percent), you're doing better than this guy. If you put the $16b in any kind of mutual find, you're going to get a positive return, even if it's a single digit percentage, and it'll be much better than this guy.
Overall I agree with the point, but I was considering the idea of risk and the stock market, and I looked at what kind of return you would get if you invested in a major index at a peak and sold at the low point, and historically it's been in the ballpark of -70%. So the odds are lower and the timescale is longer, but you could still lose more, potentially.
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Overall I agree with the point, but I was considering the idea of risk and the stock market, and I looked at what kind of return you would get if you invested in a major index at a peak and sold at the low point, and historically it's been in the ballpark of -70%. So the odds are lower and the timescale is longer, but you could still lose more, potentially.
The issue i have with all these arguments is that while you can turn x into 2x, when you layer on interest, taxes, and any fees you encounter in the process...your cut won’t be what you thought it was going to be. Making money isn’t cheap and anyone who thinks it is hasn’t actually tried to do it yet.
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Completely untrue. Even if all you do is take advantage of the investment opportunities that someone with, say, a million dollars get access to that someone with 20 doesn't, it's easy to grow large amounts of money. "To turn $100 into $110 is work. To turn 100 million into $110 million is inevitable". Edgar Bronfman
So you have a good argument, but that basically means all that stands between someone making $10million is getting the credit to start their business? I’d love to offer you that credit and take half your profits after interest and taxes.