Re:WeWork’s Once Robust Cash Reserves Have Dwindled, Raising...
by olivermarks on Friday December 16, 2022 @02:34PM
(#34019059)
@delusional 'the super-rich in charge of these giant investment funds are supposed to be the smartest people in the world, that's what entitles them to command the huge resources they do.'//
..Which makes me wonder if the 'super rich' were on some big money losing scheme that somehow made them money elsewhere, against taxes or similar?
The Producers (1967) Official Trailer
Re:WeWork’s Once Robust Cash Reserves Have Dwindled, Raising...
by MrMan on Friday December 16, 2022 @08:54PM
(#34023453)
it all makes sense in the aggregate, when capital is scarce. when capital is superabundant things tend to invert, and you get a lot of criminals just milking money from the system
That's exactly the thing. He didn't ignore the rules. It's expected that founders lie, and the super-rich in charge of these giant investment funds are supposed to be the smartest people in the world, that's what entitles them to command the huge resources they do.
The game we agreed to was that these fund managers were supposed to efficiently allocate capital to worthy causes. Neumann made it extremely apparent that there's no guarantee that some rich banker will allocate anything efficiently at all. The bankers already skewed the system, Neumann beat them at their own game.
That doesn't make him a saint, it doesn't even may him "good", but I still think it's nice that SoftBank got fucked.