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Former Netflix executive convicted of receiving bribes from contractors

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Re: Former Netflix executive convicted of receiving bribes from contractors

#241

Post by mbesto »

bozhark wrote: post #185
jacquesm wrote: post #99

Earlier quoted context omitted.

We always check the corporate registries to see if any of the legal entities the execs of a company are related to are making substantial turnover from either the company we are looking at, or a subsidiary. In 200+ DDs this has happened a handful of times. So I would not say it is a common thing but it definitely does happen, and often enough that we feel the need to at least try to establish if it is the case during…

With so many DDs, do you have any pointers or directions for those looking to learn better DD?

I'm the other DD guy (besides jacquesm, who btw is very knowledgable) that regularly posts here. Happy to answer any questions.

There really isn't any "public" info about tech DDs that I could share. The tech DD world is growing likely crazy so if you have a business and tech mind, you'll likely find companies hiring for roles, even if you don't have specific experience.

These are two books that might help you provide perspective on M&A/PE that you would learn if you got into DD:

https://www.amazon.com/dp/1973918927/?coliid=IOSLH6YRD3CP6&c...

https://www.amazon.com/HBR-Guide-Buying-Small-Business-ebook...

For reference - I've done 250+ DDs myself and my firm has done over 500 over the last 6 years.

Re: Former Netflix executive convicted of receiving bribes from contractors

#242

Post by batch12 »

ugwigr wrote: post #197
jacquesm wrote: post #181

Earlier quoted context omitted.

He did just that.

in the comment? how many people would read his comment versus the subject line? Also the fact that he can fundamentally change what a user posts and then choose whether or not to disclose it in comment section is a flaw.

I wholeheartedly disagreed until I saw your point (I think). The post still has your name beside it and you disagree with someone changing your words. While I don't find it a big deal with this, I kinda agree in spirit. Maybe the poster name should be changed too. However, folks would then be upset about not getting their sweet, sweet karma.

Re: Former Netflix executive convicted of receiving bribes from contractors

#243

Post by mbesto »

jacquesm wrote: post #99
spenczar5 wrote: post #62

Earlier quoted context omitted.

Thanks, this is indeed a better source. A lot of people here are saying this is incredibly common which is frankly pretty surprising to me. Does it really happen through shell LLCs? I am definitely aware of execs prioritizing startups they've invested in, which is... not a great look. But this seems to be a different thing. Kail wasn't an investor. He explicitly drafted agreements that paid him a fraction of the mone…

We always check the corporate registries to see if any of the legal entities the execs of a company are related to are making substantial turnover from either the company we are looking at, or a subsidiary. In 200+ DDs this has happened a handful of times. So I would not say it is a common thing but it definitely does happen, and often enough that we feel the need to at least try to establish if it is the case during…

> We always check the corporate registries to see if any of the legal entities the execs of a company are related to are making substantial turnover from either the company we are looking at, or a subsidiary. In 200+ DDs this has happened a handful of times.

Just to add a few points:

- This is much easier to do in Europe where entities are more public.

- I regularly see (probably 1 out of 20 deals) companies where there is some level of a conflict of interest between the owners/management and a 3rd party. The most typical one is where the CTO of a small ($3M revenue) software company also owns the outsourced dev group in India. The implications are numerous here.

Re: Former Netflix executive convicted of receiving bribes from contractors

#244

Post by mbesto »

nilsbunger wrote: post #94
spenczar5 wrote: post #62

Earlier quoted context omitted.

Thanks, this is indeed a better source. A lot of people here are saying this is incredibly common which is frankly pretty surprising to me. Does it really happen through shell LLCs? I am definitely aware of execs prioritizing startups they've invested in, which is... not a great look. But this seems to be a different thing. Kail wasn't an investor. He explicitly drafted agreements that paid him a fraction of the mone…

People often set up an LLC for their consulting thinking it will help with 1) taxes and 2) liability. But neither of those are quite right: 1) the same tax deductions are available on your normal schedule C 2) while acting on behalf of your LLC you’re still personally liable for your actions (let alone your illegal schemes).

> People often set up an LLC for their consulting thinking it will help with 1) taxes and 2) liability.

I have a highly paid accountant who says otherwise. Care to elaborate?

Re: Former Netflix executive convicted of receiving bribes from contractors

#245

Post by walshemj »

whymauri wrote: post #12

>In his own memorandum to the court, requesting that he be sentenced to a year of house arrest, Kail, 49, described himself as a “global power leader, top dev ops influencer and a thought leader.” So very humble of him.

If I where a Judge id add a few years for that kind of shit

Re: Former Netflix executive convicted of receiving bribes from contractors

#246

Post by ugwigr »

dangrossman wrote: post #206
ugwigr wrote: post #197

Earlier quoted context omitted.

in the comment? how many people would read his comment versus the subject line? Also the fact that he can fundamentally change what a user posts and then choose whether or not to disclose it in comment section is a flaw.

That's how it's always worked here on HN.

does not mean it is right

Re: Former Netflix executive convicted of receiving bribes from contractors

#247

Post by ugwigr »

s1artibartfast wrote: post #227
ugwigr wrote: post #201

Earlier quoted context omitted.

as I suggested, admins should feel free to delete my post and even ban me from posting - but fundamentally changing what I posted is wrong.

A redirected tag would be transparent and address both concerns

exactly

Re: Former Netflix executive convicted of receiving bribes from contractors

#249

Post by ugwigr »

NikolaeVarius wrote: post #225
ugwigr wrote: post #197

Earlier quoted context omitted.

in the comment? how many people would read his comment versus the subject line? Also the fact that he can fundamentally change what a user posts and then choose whether or not to disclose it in comment section is a flaw.

How dare we expect people to read

think of the UI as a funnel - to expect the same number of readers for each comment as for the subject is stupidity

Re: Former Netflix executive convicted of receiving bribes from contractors

#250

Post by ugwigr »

jacquesm wrote: post #210
ugwigr wrote: post #197

Earlier quoted context omitted.

in the comment? how many people would read his comment versus the subject line? Also the fact that he can fundamentally change what a user posts and then choose whether or not to disclose it in comment section is a flaw.

Entitlement is a flaw.

yes it is, captain obvious. now what is the entitlement you allude to?
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