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That Guy · 04-20-2023, 01:21 AM

gibbs sold his interest in carolina when he came to coach right? so that'd make sense and, either way, still a good guy to have around.

Other "bid" is publicity for his green energy thing that he's saying is LEEDS but isn't and his claim of 50b in valuation... how does that happen? easy, create 500,000 shares of a company, sell 1 share to yourself (through a strawman) for $10k, boom, $50b company. Or do it through buybacks with similar basic results (part of SBF's silliness). Rich people do a sorta similar thing with art (exclusive deal with young artist, pay art reviewers to write glowing reviews, strawman bid up the value of one piece, etc). Then hide it in a crate at an airport so you have low volume/high density emergency cash if you ever need to skip out of a country quick. It's actually a thing. (Fake valuations are a big business for intangible/unique assets).

I'm simplifying a bit, but saying that that could be a "truthful" statement that really has no truth to it at all if someone vetted the financials. Dude couldn't get $250m together 10 years ago for a basketball team and has been sued (and lost) multiple times for non re-payment of loans. He's just looking for suckers.

04-20-2023, 01:21 AM	#11
That Guy Living Legend Join Date: Jun 2004 Location: VA Age: 42 Posts: 17,620	Re: Josh Harris = New Owner!? gibbs sold his interest in carolina when he came to coach right? so that'd make sense and, either way, still a good guy to have around. Other "bid" is publicity for his green energy thing that he's saying is LEEDS but isn't and his claim of 50b in valuation... how does that happen? easy, create 500,000 shares of a company, sell 1 share to yourself (through a strawman) for $10k, boom, $50b company. Or do it through buybacks with similar basic results (part of SBF's silliness). Rich people do a sorta similar thing with art (exclusive deal with young artist, pay art reviewers to write glowing reviews, strawman bid up the value of one piece, etc). Then hide it in a crate at an airport so you have low volume/high density emergency cash if you ever need to skip out of a country quick. It's actually a thing. (Fake valuations are a big business for intangible/unique assets). I'm simplifying a bit, but saying that that could be a "truthful" statement that really has no truth to it at all if someone vetted the financials. Dude couldn't get $250m together 10 years ago for a basketball team and has been sued (and lost) multiple times for non re-payment of loans. He's just looking for suckers.