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Author Topic: Faking it.  (Read 1599 times)

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Faking it.
« on: August 22, 2014, 01:20:17 PM »
Article by "Biz Stone" the founder of twitter.
Turns out that he lied his way into a Job with Google and then used that as a springboard into various other things. I'm not sure how I feel about this. If I should congratulate him for putting one over or see it as just an illustration of what complete bullshit the entire "Bubble Economy" is.

By simply announcing himself as a genius on his business card, Wile E. Coyote epitomized the spirit of the Silicon Valley entrepreneur. When you?re starting a company, you sometimes have nothing more than an idea. You have to begin somewhere, so you declare yourself an entrepreneur just like Wile E. declared himself a genius. Then you make a business card and give yourself the title ?Founder and CEO.?

So in the spirit of Wile E., I christened my blog ?Biz Stone, Genius.? And in my posts I made sure to play the part. I claimed to be building inventions with infinite resources and a world-class team of scientists at my headquarters?naturally titled Genius Labs.

Take note that at the time he was living in his mother's basement. That was "Genius Labs".
Now twitter is worth 18 billion. But it has never posted a profit in fact in filings at it's initial public offering it showed that it had lost 69 million dollars in the first 6 months of 2013.
You really got to give credit to these guys and the whole wall street gang spinning horse shit into gold.
But good God how is any of this sustainable in the long run?
Oh well. One way of the other we'll just pay the bill just like the last several bubbles.
Three card monty. They pay themselves by wrapping horse shit up as securities and selling to the unsuspecting. If the shit hits the fan they just stick the public with the bill to fix it. Of course they all get to keep the profits.

« Last Edit: August 22, 2014, 01:30:55 PM by BikerDude »

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The Daryl

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Re: Faking it.
« Reply #1 on: August 22, 2014, 08:38:33 PM »
Insane. This is where reality gets soft around the edges; how the hell is a company "worth 18 billion" when it LOST 69 million?

These kinds of bubbles defy any rational thinking that we learn in grade school.

And that Genius Labs bit... People hailed as innovators that not that long ago would have been considered con men... Of course I guess to be called a con man you have to be caught and have someone realize they got conned.

Thankee for the link. If not food for thought, it's definitely a snack :)
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