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Whats up with this?

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Averia Light

Averia Light

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My dude, celebrities aren't the problem, lol. Venture Capitalists are. And, people are finally starting to notice as for awhile I thought I was going crazy.

https://www.marketplace.org/2023/04/27/how-private-equity-creates-a-circle-of-pain-in-the-us-economy/amp/
And I swear I'm not going to let her know all the pain I have known

02-May-2023 03:29:08

Averia Light

Averia Light

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In private equity and they invest solely to get a company to an exit with the highest return in the shortest amount of time regardless of how many people they swindle - which is much different than most equity transactions.

It is pretty much the industry that embodies everything wrong with capitalism.
And I swear I'm not going to let her know all the pain I have known

02-May-2023 04:00:48

Origin Nexus

Origin Nexus

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Averia Light said :
In private equity and they invest solely to get a company to an exit with the highest return in the shortest amount of time regardless of how many people they swindle - which is much different than most equity transactions.

It is pretty much the industry that embodies everything wrong with capitalism.
That sounds illegal.

02-May-2023 04:03:25

Averia Light

Averia Light

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Look it up. That is literally why they exist lol. They are "Alternative investments" and don't even have to register with the SEC. They buy early stage equity in hopes to reach an exit (which usually means being bought by another company but can also mean an IPO albiet IPOs are not desirable as they don't often have as big of returns as selling to another company). They use top secret code names and everything. It is wild.

The industry is actually called "private equity", but venture capitalists manage venture funds and it has so many tax loopholes it is insane. Plus it has permeated nearly every aspect of at least the US.

I'm not even horribly against capitalism, but runaway greed like this is just wild. I hope it does become illegal or at least extremely regulated at some point
And I swear I'm not going to let her know all the pain I have known

02-May-2023 04:07:14 - Last edited on 02-May-2023 04:15:12 by Averia Light

Origin Nexus

Origin Nexus

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You used the term "swindle". That would indicate fraud, which is illegal. I'm not against people investing their money on early companies hoping for a return on their investment. but obviously if they're engaging in fraud to do so, I'm against that. I'm not against tax loopholes either. You gotta follow the rules, but, if there's loopholes in the rules, everyone is free to use them so long as they exist.

02-May-2023 04:23:40

Joel
Feb
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2005

Joel

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Origin Nexus said :
Don't get the wrong idea either, I'm not just "defending celebrities".
You're spending a lot of time "defending" Musk :P just saying lol

I'm not even really disagreeing with your points. There's way better examples for the purposes of this thread than Musk granted, and I'm not even a "hater" of Musk so don't feel the need to learn in hard with defences. I own one of his company's cars, I'm financially invested in that same company's stock mainly because of the success it has had due to Musk (and others of course) and the direction it is headed in under his leadership. Can't say the same for the whole Twitter mess but that's another story for another thread in OT :)

However, while I agree he didn't come from a large amount of wealth, he didn't grow up particularly poor either, that's all I'm really saying. My parents certainly didn't have cash laying around to give me $30k back then or own a plane etc etc.

Anyway - we seem to have got sidetracked on Musk specifically lol. Celebs in general do not need any defence from regular Joe's like 99% of the world's population :P
Joel

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02-May-2023 04:25:14

Averia Light

Averia Light

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Origin Nexus said :
You used the term "swindle". That would indicate fraud, which is illegal. I'm not against people investing their money on early companies hoping for a return on their investment. but obviously if they're engaging in fraud to do so, I'm against that. I'm not against tax loopholes either. You gotta follow the rules, but, if there's loopholes in the rules, everyone is free to use them so long as they exist.


Yeah, I separate legal and moral obligations and swindling isn't always illegal either as many forms of deceit are legal.

I won't even get into the fact that fraud is rampant as they aren't SEC regulated as we aren't going to agree as US's current policies haven't made it illegal - yet. I hope they do make a lot of stuff illegal soon so our views can align!
And I swear I'm not going to let her know all the pain I have known

02-May-2023 04:32:05 - Last edited on 02-May-2023 04:36:55 by Averia Light

Origin Nexus

Origin Nexus

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Joel said :
Origin Nexus said :
Don't get the wrong idea either, I'm not just "defending celebrities".
You're spending a lot of time "defending" Musk :P just saying lol
Fair enough, but, I'm not defending him simply because he's a celebrity. I'm defending him because I see him being misrepresented.

I'm the kind of guy that would defend someone I didn't like, if I saw them being misrepresented with false information. Like Andrew Tate for example. I'm not particularly a fan of the guy, but if I see someone making false claims about him, I'm likely to correct the claims being made.

Joel said :
My parents certainly didn't have cash laying around to give me $30k back then or own a plane etc etc.
How much was their house worth? How much were their cars worth?

I would assume that the plane that Elon Musk's Dad had was an older plane that was owned by his parents (as Elon's grandparents were both pilots who adventured in seek of lost cities), that he had inherited when they passed on, most likely a small prop plane with very limited capacity used only by Elon's grandparents, resembling something along the lines of the small prop plane that Indiana Jones used to escape from the natives in. It wasn't some luxury private jet worth millions of dollars. It was just an old, run of the mill, prop plane from the mid 1940's, probably something like a Cessna. I think your imagination might be exaggerating what kind plane he actually had, and the value of it.


Joel said :
Celebs in general do not need any defence from regular Joe's like 99% of the world's population
Why not?

02-May-2023 04:48:23

Averia Light

Averia Light

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Well musk did illegal things so he is bad.

"A federal appeals court on Friday affirmed a finding that Tesla illegally fired an employee involved in union organizing, and that the company’s chief executive, Elon Musk, had illegally threatened workers’ stock options if they chose to unionize."

https://www.nytimes.com/2023/03/31/business/tesla-union-musk-twitter.html

I'm sure there are plenty more rulings where that came from, too.
And I swear I'm not going to let her know all the pain I have known

02-May-2023 05:00:01 - Last edited on 02-May-2023 05:01:54 by Averia Light

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