Live data from Hacker News

Martin Shkreli indictment [pdf]

bloomberglaw.com

41–50 of 182 posts

Re: Martin Shkreli indictment [pdf]

#42

> On or about December 2, 2010, Investor 1 [...] asked SHKRELI in an email about, inter alia, the fund's assets under management and the names of its independent auditor and fund administrator. SHKRELI told Investor 1 that MSMB Capital had $35 million in assets under management and that the fund's independent auditor and administrator were Rothstein, Kass & Company, P.C. and NAV Consulting Inc., respectively. At the…

He's had a troubled past and was booted from a prior company.

Re: Martin Shkreli indictment [pdf]

#43
My first reaction to his arrest was joy and then I saw comments about him getting "beat up in jail" to put it lightly.

People who say those kinds of things are no better than him. Possibly worse.

The solution to dealing with people like him is to be able to separate them from society or fix the system so it can no longer be exploited so "easily".

He may have hurt a lot of people but it's been through proxy as far as we know. Like Drone strikes, if you can't see the damage you're doing you can't feel guilty about it.

Like Morgan on the Walking Dead. I do believe Martin is a good guy on the wrong path.

It's easy to come together to have shared hatred for this guy and it's hard to realize

I can do better as a human being with empathy towards someone who is broken; sad and probably doesn't understand why people hate him.

He's just being "successful" as it was always defined to him.

Like the Boston Bomber. Getting "Revenge" does not stop the perpetual cycle violence and misbehavior.

The Wolf of Wall Street was a glorification of this type of behavior and a lot of people saw Jordan in that movie as a "Hero"

Re: Martin Shkreli indictment [pdf]

#45
post #29

Seriously disappointing news. Shkreli seemed like such an obvious troll in how he defended his price gouging by saying that a CEO's role is to maximize profit for the benefit of shareholders...and yet did so in such an unnecessarily obnoxious way that if he truly were the uber-capitalist, he would know that bragging and drawing attention to what an asshole you are does not achieve the true capitalist goal. I would've…

The performance art hypothesis has not been disproven to my knowledge, but I haven't ever heard of anyone being arrested and indicted by the feds as being part of their plan in life. Are there any such examples?

Re: Martin Shkreli indictment [pdf]

#46
post #29

Seriously disappointing news. Shkreli seemed like such an obvious troll in how he defended his price gouging by saying that a CEO's role is to maximize profit for the benefit of shareholders...and yet did so in such an unnecessarily obnoxious way that if he truly were the uber-capitalist, he would know that bragging and drawing attention to what an asshole you are does not achieve the true capitalist goal. I would've…

So, if not a troll / performance artist, what is he then? Just a very stupid person with a bloated ego? How does someone so stupid make it to CEO of a pharmaceutical company at 32?

He probably found making money, scheming, and shady deal making to be thrilling, like the Wolf of Wall Street guy.

Re: Martin Shkreli indictment [pdf]

#47

What I'm curious is how this affects the Wu Tang Clan's album he bought? http://www.nytimes.com/2015/12/10/business/media/martin-shkr...

Someone filed a FOIA with the FBI to try to get them to release it: https://twitter.com/wisemana/status/677510714236510209

Seems like it's unlikely that you can just FOIA arbitrary data from a CD or hard drive that's been seized during an investigation though.

Re: Martin Shkreli indictment [pdf]

#48

Earlier quoted context omitted.

I found it funnier how they tried to short sell $1M of stock and somehow got $7M in the hole. Must have been some leverage on that deal :v

Umm, you know how short sales work right? You're borrowing shares to sell them at current prices and then have to return the shares later. If the price rises, you are out the difference between what you sold at and what you repurchase at for when the call to cover comes in.

From Wikipedia: "Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the security or ensuring that the security can be borrowed, as is conventionally done in a short sale." It is really easy to lose your shirt with a naked short.

Re: Martin Shkreli indictment [pdf]

#49
post #29

Seriously disappointing news. Shkreli seemed like such an obvious troll in how he defended his price gouging by saying that a CEO's role is to maximize profit for the benefit of shareholders...and yet did so in such an unnecessarily obnoxious way that if he truly were the uber-capitalist, he would know that bragging and drawing attention to what an asshole you are does not achieve the true capitalist goal. I would've…

So, if not a troll / performance artist, what is he then? Just a very stupid person with a bloated ego? How does someone so stupid make it to CEO of a pharmaceutical company at 32?

It seems that his intelligence was undermined by the size of his ego... and he's certainly not the first successful person to fall in that trap

Re: Martin Shkreli indictment [pdf]

#50
post #29

Seriously disappointing news. Shkreli seemed like such an obvious troll in how he defended his price gouging by saying that a CEO's role is to maximize profit for the benefit of shareholders...and yet did so in such an unnecessarily obnoxious way that if he truly were the uber-capitalist, he would know that bragging and drawing attention to what an asshole you are does not achieve the true capitalist goal. I would've…

So, if not a troll / performance artist, what is he then? Just a very stupid person with a bloated ego? How does someone so stupid make it to CEO of a pharmaceutical company at 32?

By being very good at conning people? The guy was brazen, but he was able to keep his game up for several years.
Post reply on HN