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rats
Mmmmhmmm.
Peter Thiel to step down from Meta’s board
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Re: Peter Thiel to step down from Meta’s board
#22Whatever happened to facebook in the span of 1 month that is so different than what was happening the past ~10 years? devaluation in multiple dimensions
Their pivot to Meta deeply reinforced the writing on the wall. And then their first ever report of a declining user count was the coup de grace.
Come to think of it I need to verify that the user count did decline. I only heard that anecdotally.
Re: Peter Thiel to step down from Meta’s board
#23Whatever happened to facebook in the span of 1 month that is so different than what was happening the past ~10 years? devaluation in multiple dimensions
Just enough built up negativity that caused a transition in public (and market) sentiment.
The markets aren't all that efficient or things like this wouldn't happen. Markets underestimated obvious risks and those risks reached high enough levels that there's a bit of a run to be the first out the door.
Re: Peter Thiel to step down from Meta’s board
#24Re: Peter Thiel to step down from Meta’s board
#25I realize this is a petty and inconsequential question, but does anyone else think that the Forbes estimate of $2.6bn is a little low for a guy that was a key early investor in Facebook and has multiple other holdings like Palantir? Is there a bunch of money Forbes isn’t counting or something?
Those are just wild guesses. You can often find actors commenting "yeah, I wish!" when somebody asks them about their net worth.
Re: Peter Thiel to step down from Meta’s board
#26The sub headline is a better summary of what is happening: > Peter Thiel to Exit Meta’s Board to Support Trump-Aligned Candidates He just wants to be free to involve himself in politics but not get Meta involved. Maybe he also has additional motivation for leaving, but that's speculation and this right here is a solid reason. From the article: > In October, the two Senate candidates argued in an opinion piece in The…
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Re: Peter Thiel to step down from Meta’s board
#27Fun fact, Peter Thiel gave Vitalik Buterin a Thiel Fellowship to work on Ethereum. Let's count the wins Peter Thiel has had:
- Paypal
- Facebook
- Palantir
- Etherum
- Took on deplorable GawkerRe: Peter Thiel to step down from Meta’s board
#28No post body was provided.
Re: Peter Thiel to step down from Meta’s board
#29This is a good move for both Thiel and Facebook.
This helps Facebook with advertisers, the DC machinery still reeling from the Trump fallout, shareholders and almost all their staff. They can wash their hands of what looks - to many - a toxic situation.
This helps Thiel, because he's no longer going to have to explain himself - his writing game me the impression that he is somebody who despises having to explain himself to people who think he might be wrong - and allows him to carry on with his Trump project, unquestioned, unencumbered.
From a certain perspective and distance this is all deeply depressing, though. They walk away from each other knowing all sides face fewer consequences for their terrible decisions, many of which have caused significant - perhaps irreparable - damage to the standing of United States politics and industry in the wider World.
Re: Peter Thiel to step down from Meta’s board
#30This podcast "The Peter Thiel Paradox" [1] explained a lot about the mystery of Peter Thiel to me. Turns out that there is less than meets the eye but he does have a specific talent for manipulating the political systems and government coffers to enrich himself, much like Richard Branson, or so the British podcast claims. [1] https://www.lrb.co.uk/podcasts-and-videos/podcasts/the-lrb-p... One nitpick; Theil said "We…
Why do people with this much wealth want even more wealth for themselves? I've never understood this.