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A comment on Canoo spent double its annual revenue on the CEO's private jet. Parent comment

Re:Canoo spent double its annual revenue on the CEO's privat... by ilrwbwrkhv on Tuesday April 02, 2024 @02:10PM (#39908948)
I am sure these companies are a massive money laundering operation. What does Solera even do or ever did? Prior to the acquisitions?
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Re:Canoo spent double its annual revenue on the CEO's privat... by blackhawkC17 on Tuesday April 02, 2024 @02:15PM (#39909018)
Solera sold risk management and asset protection software. A company with $1bn+ in annual sales [1] is a money-laundering operation?

Hint - Most ultra-rich people make their money in boring industries you wouldn't even know about.

1- https://www.macrotrends.net/stocks/delisted/SLH/solera-holdi...

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Re:Canoo spent double its annual revenue on the CEO's privat... by ilrwbwrkhv on Tuesday April 02, 2024 @02:35PM (#39909287)
Most of these businesses are actually fronts. They siphon money from Africa and other third world countries with poor laws and wash it with money from private equity firms.
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Re:Canoo spent double its annual revenue on the CEO's privat... by blackhawkC17 on Tuesday April 02, 2024 @03:12PM (#39909700)
With all due respect, this is rubbish. Private equity LPs are overwhelmingly local pension funds, institutional investors, and high net worth individuals.
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