201–210 of 221 posts
I struggle to understand the psychology of how founders who are clearly incompetent charlatans get second+ chances -- they couldn't do fraud successfully but investors have a faith they could do business successfully. But they still get funding (like adam neumann of wework fame) and full on "narrative tongue baths" by the business media community (like this wsj article on trevor milton). Why? I struggle to understand…
On top of the fraud convictions, Trevor Milton was credibly accused of sexual assault by his own cousin and a girl he employed. Both victims were minors at the time. https://www.cnbc.com/2020/09/29/two-women-file-sexual-abuse-...
devils advocate here... but isnt it weird how these women filed a complaint together 20 years later, after he became a billionaire? I just read the article and by his cousins own testimony, they were BOTH minors, and he heinously sexually assaulted her by groping her breasts after she consented to... take off her own shirt down to a bra, during a "massage"... but the shirts off massage turned into a sexual assault wh…
Them filing complaint when they are in better position in life, when politics slightly change so there is an illusion someone will care etc makes perfect sense.
And yes, consenting to massage is not the same as consenting to sexual assault or anything else sexual. Among other reasons, that is why married people can get massage without it being cheating.
On top of the fraud convictions, Trevor Milton was credibly accused of sexual assault by his own cousin and a girl he employed. Both victims were minors at the time. https://www.cnbc.com/2020/09/29/two-women-file-sexual-abuse-...
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Some of those sophisticated investors are also engaged in shameless capital extraction. Their investment thesis is based on the "Greater Fool Theory": they're gambling that they can dump the inflated assets on another bag holder before it blows up.
But they might end being the bag holder themselves. And is the reputational risk worth it? I would say - no.
Yes! The only metric that matters is assets under management, since that’s where funds take their cut. Nothing else matters.
A16Z used to be a respected investor, then they went crazy deep into crypto scams and their AUM exploded, so they made more money than ever before.
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I just can't comprehend the mental process or discussion that happened which led to this guy getting a pardon. It's just hard to imagine that anybody would give a f about this fraudster. Only explanation is he must know some dirt on someone. It's clear now. Modern society runs on blackmail. There's a blackmail hierarchy all the way to the top. I bet there are many people out there just making a living from just knowi…
Trump seems to have a weak spot for fraudsters. Milken, Conrad Black, Keith, Blagojevich and many more. Not sure why though.
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I thought I was laying on the sarcasm pretty thick. But I guess it’s harder and harder to tell these days!
There is no tone of voice in writing. This is part of the problem with written social media. Some writers will say "only an idiot would believe what I wrote", showing themselves to be adversarial in their communications. I don't think that's you in this case.
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“gall” has the more negative connotations.
Unmitigated gall, even.
I struggle to understand the psychology of how founders who are clearly incompetent charlatans get second+ chances -- they couldn't do fraud successfully but investors have a faith they could do business successfully. But they still get funding (like adam neumann of wework fame) and full on "narrative tongue baths" by the business media community (like this wsj article on trevor milton). Why? I struggle to understand…
"Hey this guy fooled a lot of people last time and the people who got in and out early made a killing. This time I'm going to get in early." "He's got the hustle to do what it takes to succeed and is unencumbered by a moral compass. Gotta break a few eggs to make an omelet." "Pssh that's nothing compared to the fraud I committed to get here. Fake it till you make it baby!" "It takes balls to defraud powerful people a…
In return, he got to trade on their reputation which allowed him to rope in more respectable partners and appear more legitimateto potential customers. It’s a vicious cycle.
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> Milton had styled himself as a political victim of the Biden administration, and Trump agreed. That and a $1 million donation. He bought his pardon fair and square.
Cheap at the price!