Billionaire Robert F. Smith: Be an Expert and You Are Enough

[phcitywarrior]

Private equity is a parasitic system, it leverages against, and puts into debt, some of the most vulnerable economic elements in the world.

From struggling banks in the third-world, to low-income housing, to plots of land owned by people barely scraping by, to international agriculture companies, etc.

Any person in finance who is a billionaire is exploiting the poor. And I don't mean that in the same what that's usually leveled at people that consume from Nike, Apple, H&M, etc.

I mean his company is directly undermining the lives of thousands, if not tens of thousands, for personal gain.

He's probably a great guy in person, but as a PE - guy, there is no doubt legitimate class exploitation.

You gonna have to explain the bolded a little more to me.

 

[EndDomination]

You gonna have to explain the bolded a little more to me.

Ban Private Equity
This honestly gives the best explanation I’ve seen in some time.

 

[Swirv]

It’s all about what you’re willing to sacrifice to make boatloads of money.

 

[phcitywarrior]

Ban Private Equity
This honestly gives the best explanation I’ve seen in some time.

Actually have read that article before. Didn't do too good a job of breaking down the process and where the faults are.

 

[Anerdyblackguy]

Ban Private Equity
This honestly gives the best explanation I’ve seen in some time.

I hate to sound heartless but the game is the game.

 

[Ugo Ogugwa]

Just another thinly veiled positive speech not really talking about much.

How about they guide us on how they made their fortune and update methods that could work today since the time when they ventured off into their said field to become billionaires.

They just wanna tour the country making extra money without actually helping.

You an expert bytch ass nikka. You are enough.

 

[Cynic]

Private equity is a parasitic system, it leverages against, and puts into debt, some of the most vulnerable economic elements in the world.

From struggling banks in the third-world, to low-income housing, to plots of land owned by people barely scraping by, to international agriculture companies, etc.

Any person in finance who is a billionaire is exploiting the poor. And I don't mean that in the same what that's usually leveled at people that consume from Nike, Apple, H&M, etc.

I mean his company is directly undermining the lives of thousands, if not tens of thousands, for personal gain.

He's probably a great guy in person, but as a PE - guy, there is no doubt legitimate class exploitation.

He made in software mergers and acquisitions. That's first world SAAS and tech IP

Are you going to say software and servers are being exploited ?

 

[Jimmy Two-Times™]

You an expert bytch ass nikka. You are enough.

Excuse me, sir?

 

[EndDomination]

He made in software mergers and acquisitions. That's first world SAAS and tech IP

Are you going to say software and servers are being exploited ?

The vast majority of his holdings are in software and IP and I'm not going to fault him for that, even if the entirety of the industry is based on the exploitation of the minerals bought in clearly corrupt deals, that implicates pretty much the entire industry, and that's a pretty lazy claim
All of his holdings are just software though, its been a while since I looked through everything, but some of the other holdings are in the realm of direct exploitation. When I find some of the WSJ stuff, I'll quote you on it.

 

[EndDomination]

Actually have read that article before. Didn't do too good a job of breaking down the process and where the faults are.

Leveraged buyouts, as a part of their nature, can and will fukk over the workers.

PE firms put very little of their own money into these deals. Instead the company that is bought takes on about 70 percent of the (often wildly inflated) purchase price as debt. The PE firm uses some of this debt to pay itself huge fees; to make more money it sells off company assets, fires workers, closes facilities, etc. If returns are not deemed satisfactory it simply schedules a “divi recap” (dividend recapitalization) where it raises even more debt to pay itself and investors. (PE-owned companies’ debt levels are about eleven to twelve times earnings before interest, tax, depreciation, and amortization.)

When the PE firm has sucked all the money it can out of the company and its stakeholders, which usually takes between three and five years, it either sends it into bankruptcy (where workers lose whatever they have left) or sells it (often to another PE firm).

 

[EBK String]

anybody that tells you to just work harder is full of shyt. You can work your hands to the bone but without capital you are going nowhere, your ideas and work will just be snatched up and exploited by those with long money who can push it to the masses.

 

[Cynic]

anybody that tells you to just work harder is full of shyt. You can work your hands to the bone but without capital you are going nowhere, your ideas and work will just be snatched up and exploited by those with long money who can push it to the masses.

You don't know what you don't know.

 

[Marzupial]

I know a guy without college education who became an expert in his area by reading the same book everyday for at least 1 hour (of course he didn't read the entire book everyday, he would start reading where he left in the day before and stop after one hour)

He said after 6 months he could easily talk about every subject on that book.

One day at his minimum wage job one of his co workers(female) heard him talk and hooked him up with her uncle who was an co owner of a sports agency

Dude got the interview and the job

 

[Marzupial]

^^^Moral of the story with the proper motivation you can run your own college in your own room

I have applied the same trick my friend did and I can see how it defenely works

Now Iam just waiting on time to gimme mines

 

[EndDomination]

I know a guy without college education who became an expert in his area by reading the same book everyday for at least 1 hour (of course he didn't read the entire book everyday, he would start reading where he left in the day before and stop after one hour)

He said after 6 months he could easily talk about every subject on that book.

One day at his minimum wage job one of his co workers(female) heard him talk and hooked him up with her uncle who was an co owner of a sports agency

Dude got the interview and the job

He happened to work with a woman who had an uncle who co-owned a sports agency.
Sounds more like absurd whimsy and luck than anything else.

I have a friend who is at the bottom of her class, but just happened to meet a drunk international law firm partner, and he hooked her up with an interview for a position that it'd even be difficult for a top student at a top school to get.

The caveat? To have been there you had to have rich parents to pay for you to attend the summer program