Lore bought out by Marc Stad

[TheGrey08]

Someone tell me how to feel

Billionaires are all scam artists and will bleed is dry until there's nothing left

How? As if the word "billionaire" is a fixed character trait versus a mathematical description of a person's net worth. Are people worth a $100 Million also bleeding us dry? How about someone worth $10 Million? Or $1Million? At what net worth threshold does someone become a scam artist anyway and what is the process in which the metamorphosis occurs?

We don't need to get into this huge debate, but just look up the US Guilded Age, which the government had to break up big money b/c too much of the US wealth was held by so few and we are now living through a VASTLY worse guilded age than back then. It's about Billionaires, corporate greed & companies/owners/investors not having the tax incentive to re-invest into their non CSuite employees. As a result we've seen those wages stagnate the past 50+ years while CSuite, CEO, investor, etc wealth has been skyrocketing.

That said, given the fact Lore turned down higher offers (per Jon K), tells us he wasn't going for pure greed, wanted continuity and wants to stay involved, but focus on his main business.

[Q-is-here]

Billionaires are all scam artists and will bleed is dry until there's nothing left

How? As if the word "billionaire" is a fixed character trait versus a mathematical description of a person's net worth. Are people worth a $100 Million also bleeding us dry? How about someone worth $10 Million? Or $1Million? At what net worth threshold does someone become a scam artist anyway and what is the process in which the metamorphosis occurs?

We don't need to get into this huge debate, but just look up the US Guilded Age, which the government had to break up big money b/c too much of the US wealth was held by so few and we are now living through a VASTLY worse guilded age than back then. It's about Billionaires, corporate greed & companies/owners/investors not having the tax incentive to re-invest into their non CSuite employees. As a result we've seen those wages stagnate the past 50+ years while CSuite, CEO, investor, etc wealth has been skyrocketing.

That said, given the fact Lore turned down higher offers (per Jon K), tells us he wasn't going for pure greed, wanted continuity and wants to stay involved, but focus on his main business.

The government also didn't have nearly the same level of regulatory apparatus or entitlement/safety net programs in place during the Gilded Age. There is no comparison in terms of the resources avaialable for those on the bottom rung.

Outside of the bottom rung, a lot of folks that prattle on about how awful billionaires are happen to also own a piece of the very companies that made their objects of scorn so much money via the stock funds they hold in their retirement accounts (which have done very well by the way over the past ~ 20 years). And wealth as measured by net worth is different than income.

I have no doubt that there are things that can be done to incentivize more of the growing pie (it's not a fixed, zero sum pie) going to labor vs. capital, but that doesn't mean that today's billionaires come to their wealth through grift, dishonesty, and scams which is what Guest stated plainly.

Anywho, onwards....Go Wolves!

[AbeVigodaLive]

How? As if the word "billionaire" is a fixed character trait versus a mathematical description of a person's net worth. Are people worth a $100 Million also bleeding us dry? How about someone worth $10 Million? Or $1Million? At what net worth threshold does someone become a scam artist anyway and what is the process in which the metamorphosis occurs?

We don't need to get into this huge debate, but just look up the US Guilded Age, which the government had to break up big money b/c too much of the US wealth was held by so few and we are now living through a VASTLY worse guilded age than back then. It's about Billionaires, corporate greed & companies/owners/investors not having the tax incentive to re-invest into their non CSuite employees. As a result we've seen those wages stagnate the past 50+ years while CSuite, CEO, investor, etc wealth has been skyrocketing.

That said, given the fact Lore turned down higher offers (per Jon K), tells us he wasn't going for pure greed, wanted continuity and wants to stay involved, but focus on his main business.

The government also didn't have nearly the same level of regulatory apparatus or entitlement/safety net programs in place during the Gilded Age. There is no comparison in terms of the resources avaialable for those on the bottom rung.

Outside of the bottom rung, a lot of folks that prattle on about how awful billionaires are happen to also own a piece of the very companies that made their objects of scorn so much money via the stock funds they hold in their retirement accounts (which have done very well by the way over the past ~ 20 years). And wealth as measured by net worth is different than income.

I have no doubt that there are things that can be done to incentivize more of the growing pie (it's not a fixed, zero sum pie) going to labor vs. capital, but that doesn't mean that today's billionaires come to their wealth through grift, dishonesty, and scams which is what Guest stated plainly.

Anywho, onwards....Go Wolves!

To be fair, the system in place benefits the uber wealthy... so more power for the uber wealthy in taking advantage of all of the perks afforded them. (Both literally and figuratively.)

[TheGrey08]

We don't need to get into this huge debate, but just look up the US Guilded Age, which the government had to break up big money b/c too much of the US wealth was held by so few and we are now living through a VASTLY worse guilded age than back then. It's about Billionaires, corporate greed & companies/owners/investors not having the tax incentive to re-invest into their non CSuite employees. As a result we've seen those wages stagnate the past 50+ years while CSuite, CEO, investor, etc wealth has been skyrocketing.

That said, given the fact Lore turned down higher offers (per Jon K), tells us he wasn't going for pure greed, wanted continuity and wants to stay involved, but focus on his main business.

The government also didn't have nearly the same level of regulatory apparatus or entitlement/safety net programs in place during the Gilded Age. There is no comparison in terms of the resources avaialable for those on the bottom rung.

Outside of the bottom rung, a lot of folks that prattle on about how awful billionaires are happen to also own a piece of the very companies that made their objects of scorn so much money via the stock funds they hold in their retirement accounts (which have done very well by the way over the past ~ 20 years). And wealth as measured by net worth is different than income.

I have no doubt that there are things that can be done to incentivize more of the growing pie (it's not a fixed, zero sum pie) going to labor vs. capital, but that doesn't mean that today's billionaires come to their wealth through grift, dishonesty, and scams which is what Guest stated plainly.

Anywho, onwards....Go Wolves!

Yep, those safety nets were the response to the greed & precarious nature of allowing so few to have most of the control. Yet, these days financially most working class people are far worse off than their grandparents were at and the gap is far far worse.

A lot of people spout off about things they themselves take advantage of like investments, social safety nets, etc. Retirement counts are a bit different to me. If shitty companies are the best for our retirement, what else can we do.

I would probably agree there too that it's not all grifts, etc, however most of them make their billions on the backs of millions of Americans/workers of the companies they utilize to gain their wealth. Like when a huge number of Walmart employees were on some type of Gov't assistance with poor wages while WAL made massive profits.

It's a whole lot of corruption and greed. That said, IMO linking this to the Wolves shakeup is a bit much. I'm certainly glad Lore went the reshuffling route instead of selling to the highest bidder.

[Monster]

After reading Jon K's piece that is free to read it seems like this just mean's Arod is actually roses more and in some ways is the guy we are gonna be seeing maybe even more than we did before. I have r seen anything so far to suggest hats a bad thing. I felt pretty good about Arod and Lore but the way this seems to have gone down it seems like Stad was picked over other options which is probably a good sign.

The 4.5 billion evaluation compared to the 1.5 billion Lore and Arod bought the Wolves and Lynx for...how much of that is due to the WNBA and the Lynx evaluation exploding? What valuation was the Lynx when that purchase went through? It was a pretty small number relatively speaking. One article I found had them valued at 405 million but that was before the season started and Olivia Miles. What's it worth now 500 million. More? Man you wouldn't have to have been a billionaire to get a fantastic return on a sports team. How long will be it be before a WNBA team is worth a billion? I think we all knew the Wolves of they had success were going to increase in valuation.

It would be interesting to hear what percentage Lore sold off. 20% 30? That's still a lot of money and a nice profit but I'd guess it's not like he sold even 50%

As for billionaires and greed...some are absolutely greedy assholes and I've been convinced more and more the past few months we are in a place in this country that is benefiting the wealthy more than not. That doesn't mean all the people that have lots of money are awful people. Some people say this athlete or actor makes too much money etc. I ask them do you know what they do with their money? Do they spend it wisely or on dumb shit? Do they actually donate a significant portion to charities that they are truly involved in? What if the dumb shit they spend on still does have some positive effects on non wealthy people? The money doesn't just disappear.

Kirk Cousins is a somewhat oddly hated athlete for making money doing something he is good at. He definitely doesn't live lavishly and I'd guess he is donating some reasonably decent money to charity.

How many of us try and get the most out of whatever it is that can help us financially? I often do. I certainly don't make tons of money but maybe I don't need to maximize all the chances I can to make money. Maybe I could donate more to those who need it more than I do. In general I have enough money to pay my bills and do some fun things etc. Even though I'm a cheap ass I'll admit I often realize that what I have doesn't seem to be enough...when often it honestly is...for me.