View Full Version : i'm a little upset
this has nothing to do with the forum
as some may know i am in the process of starting an internet brand so i decided that it would be good if i got some angel money to pay me essentially as a consultant for my own company
after all i have spent years thinking it and if that is not worth something then i should forget it and concentrate on my music
anyway one of my professor's niece is a lawyer who helped broker the fedex / kinko merger and he knows someone who was involved in a major hedge fund
so i thought ok maybe it is time to make a deal
turns out that this person with the hedge fund was the risk manager and that this same hedge fund had a major scandal
as my friend said 'mr x did not lose anything but his employ ability'
so i asked for some names and spent some time with google
turns out this hedge fund made it big on natural gas due to hurricane katrina and rita in 2005
mr x got a $5 million bonus for 2005
so then they bet the ranch on 2006 being another devastating hurricane season and of course lost their bet to the tune $6 billion two thirds of their total worth
betting everything on a hurricane (http://www.turtletrader.com/mp3/hurricane-bet.mp3)
their investors are pension funds and university endowments (like the one that paid for my education)
i am absolutely horrified to realize that people so ruthlessly profit on the misery of others
i keep remembering jay adelson's post on the movie the corporation (http://www.netflix.com/Movie/The_Corporation/60034810?trkid=222917&lnkctr=srchrd-sr&strkid=1774938571_0_0)
so i figure not everyone is like this
so i wonder how am i going to get clean money and should i get involved with this guy and give him a chance to invest in something designed to be non exploitative and good as well as potentially hugely profitable
am i being naive requiring ethical investors ?
xibalba
03-04-2008, 07:03 PM
ethical business people I would say is rare I would say. Probably some out there though. Just have to search. Alot of people are cruel and heartless and live on greed no matter how it effects others as long as they make money. It makes me sad how people are.
tokenuser
03-04-2008, 07:10 PM
Angels like high risk, high return ventures. That is tantamount to legalised gambling. ANY form of investment is a risk ... my portfolio of AAPL stock was up 30% on Jan1, and is now down 15%. It is risk. If it were not a risk, people would be investing in governmetn bonds with a 3% yeild.
Pension plans and endowments need to do their due diligence on the hedge fund. It is a shame that they lost their shirts on that venture, but the risk was bourn by them (the fund manager have nothing to lose except reputation ... and like investments, those can be rebuilt over time). Hedge funds are there for the long term, not a short term day trade mentality, and the people who were in - provided they are sticking it out - will probably not lose anything in the long run.
Angels like high risk, high return ventures. That is tantamount to legalised gambling.
right i am open to giving people the opportunity to invest in my possible genius vision and brain power good character and good intentions
pension plans and endowments need to do their due diligence on the hedge fund. It is a shame that they lost their shirts on that venture, but the risk was bourn by them (the fund manager have nothing to lose except reputation ... and like investments, those can be rebuilt over time). Hedge funds are there for the long term, not a short term day trade mentality, and the people who were in - provided they are sticking it out - will probably not lose anything in the long run.
the company is history but the principals have gone on to start other hedge funds
enron and amaranth (http://www.salon.com/tech/htww/2007/07/06/amaranth/index.html)
drandolph
03-04-2008, 07:22 PM
People with money tend to be unethical a lot of the time. Think about it for a second. Their job is to take something from other people and keep it for their own use. Then they take that money and give it to people expecting them to give it back in much larger numbers.
In my experience it is rare to find a honest good intelligent rich person. If you do find one, they more than likely made a huge mistake that paid off or just really lucked out one day by accident.
Take money from evil people and do good things. If a guy profits off of death,destruction and the misery of others then taking that cash to make something worth while is a start to ethical redemption. Who knows maybe you could be the one to show the investor that there is money in positive investing.
ethical business people I would say is rare I would say. Probably some out there though. Just have to search. Alot of people are cruel and heartless and live on greed no matter how it effects others as long as they make money. It makes me sad how people are.
it is so depressing
masherscf
03-04-2008, 07:28 PM
P
In my experience it is rare to find a honest good intelligent rich person. If you do find one, they more than likely made a huge mistake that paid off or just really lucked out one day by accident.
I think this is an unfair generalization. I do agree there is something in a "wheeler-Dealer" dynamic that spoils a person. But, I don't agree that all rich people are evil and corrupt.
There are many historical examples of the super-rich turning a corner and using their money for the betterment of mankind. Of course, their are just as many examples of Paris Hilton's that are too stupid to know what to do with their money and end up doing bullshit with it.
I'll never be a rich man because I opted for academia over industry.
Take money from evil people and do good things. If a guy profits off of death,destruction and the misery of others then taking that cash to make something worth while is a start to ethical redemption. Who knows maybe you could be the one to show the investor that there is money in positive investing.
ok sounds feasible
but this has made me think on the terms of acceptance of such money:
i will use your money and give you an agreed % but other than listening to your input i am running this company my way
it is either ethical or i'm not doing it (i'll have that written into the agreement)
on my business cards i gave myself the title czarina
There are many historical examples of the super-rich turning a corner and using their money for the betterment of mankind.
I'll never be a rich man because I opted for academia over industry.
i have thought that it is not the person who invests in me that is doing me 'the favor' but me giving them a double opportunity one financial the other ethical
ha ha maybe i should seek out those who need some 'karmic redemption'
if it weren't for people like you who opted for academia i would never even be able to think of being a major player
besides maybe you can work as a consultant for my company how are you at algorithms :D
tokenuser
03-04-2008, 07:40 PM
i will use your money and give you an agreed % but other than listening to your input i am running this company my way Nice theory, but unfortunately thats not the way it works. Angels are sinking $$$ into you and your vision, and will try to guide you to be as profitable as possible (thats their goal after all).
As the major shareholder in your company, they WILL have a definate say in how things are run ... even tothe point of appointing an overseeing manager/ceo/chairman if you are not runing things correctly.
Being altruistic and making money are not necessarily conflicting goals, but they do make the task just that much harder.
ericjosepi
03-04-2008, 08:22 PM
on my business cards i gave myself the title czarina
That just super-duper made my day. I don't know why but that's just awesome :)
ariastar
03-04-2008, 09:05 PM
Oh dear, so much of the money the big wigs have doesn't come with clean hands. The Russian CEOs of the company I work for did some terrible things. Sure, "everyone did it" during the fall of the U.S.S.R., but that doesn't make it any better in my book. Underhanded, unfair business practices rule the land.
If at all possible, try to bootstrap it, at least at first, and reconsider funding at a later time.
radzack
03-04-2008, 10:45 PM
Turn it into something great, skyz.
Nice theory, but unfortunately thats not the way it works. Angels are sinking $$$ into you and your vision, and will try to guide you to be as profitable as possible (thats their goal after all).
As the major shareholder in your company, they WILL have a definate say in how things are run ... even tothe point of appointing an overseeing manager/ceo/chairman if you are not runing things correctly.
Being altruistic and making money are not necessarily conflicting goals, but they do make the task just that much harder.
i am the major shareholder in my company and will remain so
this is small angel money i am seeking if they got to be a major shareholder how in the world would i do second and third round financing
and as for the way things are done well as shown doing things the way they are done brought down one of the biggest hedge funds in history
i am not interested in doing business for any amount of money at the price of my ethics
i can't be bought
i am not working for someone else
That just super-duper made my day. I don't know why but that's just awesome :)
thank you sweetie
that is the whole point of my venture to make your internet day better than you ever imagined it could be :)
Turn it into something great, skyz.
i am committed to doing my best :cool:
tokeafatj
03-05-2008, 06:28 PM
i am the major shareholder in my company and will remain so
this is small angel money i am seeking if they got to be a major shareholder how in the world would i do second and third round financing
and as for the way things are done well as shown doing things the way they are done brought down one of the biggest hedge funds in history
i am not interested in doing business for any amount of money at the price of my ethics
i can't be bought
i am not working for someone else That's what they all say!Invest in gold.THE N.A.U. is coming bye bye Dollar And hello the Amero.The new currency of the elite!!!of the World. Greed Killz Period!!!And greed rules the WORLD!!!Just ask the europeans the have the Euro.And the E.U!!!
ericjosepi
03-05-2008, 06:47 PM
Skyz, I look forward to seeing what you come up with :)
tokenuser
03-05-2008, 10:55 PM
That's what they all say!Invest in gold.THE N.A.U. is coming bye bye Dollar And hello the Amero.The new currency of the elite!!!of the World. Greed Killz Period!!!And greed rules the WORLD!!!Just ask the europeans the have the Euro.And the E.U!!!Is that a bad thing? A North American Dollar (the NAD) would be great - especially since the CAD is trading so well against the USD.
The EU is working out well. Rumours of a Middle Eastern equiv are floating around ... so why should the USA/Canada/Mexico not go for a common economic agreement?
phatlip12
03-05-2008, 11:07 PM
That's what they all say!Invest in gold.THE N.A.U. is coming bye bye Dollar And hello the Amero.The new currency of the elite!!!of the World. Greed Killz Period!!!And greed rules the WORLD!!!Just ask the europeans the have the Euro.And the E.U!!!
Alex Jones, is that you?
tokeafatj
03-05-2008, 11:36 PM
Alex Jones, is that you?
Who is alex jones is he a friend of yours?
phatlip12
03-06-2008, 01:31 AM
Who is alex jones is he a friend of yours?
http://en.wikipedia.org/wiki/Alex_Jones_(radio)