This is a typical anti-finance rant, with no substence. The only thing that would have made it worse would be a blantently political statement any of the parties.
So between just these three, some $40 billion has been extracted from pension funds and other last-sucker-in-line investors. While, in the process, soured many on the idea of the public markets and enriched investment bankers hawking the toxic stocks. Hey, at least someone got out while the going was good.
Net out what VCs got which also goes to pension funds before calculating the $40B. Don't mention investment bankers while not also mentioning founders who sold shares and took a far greater percentage of the IPO cash.
>This is a typical anti-finance rant, with no substence. The only thing that would have made it worse would be a blantently political statement any of the parties.
Because finance in itself is something like nature, and not at all political and ideological, right?
Because finance in itself is something like nature, and not at all political and ideological, right?
The math in his post is clearly, scientifically wrong and represents a typical rant from an uninformed observer. It would be the equivalent of workers blaming computer scientists (hackers) for eliminating all of their jobs that were based around making phone books.
So between just these three, some $40 billion has been extracted from pension funds and other last-sucker-in-line investors. While, in the process, soured many on the idea of the public markets and enriched investment bankers hawking the toxic stocks. Hey, at least someone got out while the going was good.
Net out what VCs got which also goes to pension funds before calculating the $40B. Don't mention investment bankers while not also mentioning founders who sold shares and took a far greater percentage of the IPO cash.