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0 pointsahi13y ago0 comments

Pincus and Mason may still be running them, but they both already cashed out big time.

0 comments

Don't you see how that defies the notion that it was a pump and dump? Why would they (with tens of millions of dollars) stick around?

No one can force them to stay. They're already obscenely rich. Think about what their motivations must be.

tptacek13y ago

As I noted above, this isn't really an argument. Sanjay Kumar made hundreds of millions of dollars from CA and could have left long before he was indicted having already ensured that none of his grandchildren would ever have to work a day in their lives.

staunch13y ago

If you think they're sticking around to make more money, then they must be trying to repair the company's stock price. Or you think they're still there out of a sense of pride or guilt.

Either way it's not a pump and dump, and their goal is to turn the company around.

1 more reply

corford13y ago

These guys obviously aren't the sort of people that are happy to lie by the beach reading a book, quietly enjoying their millions.

They're alpha dogs in the absolute worst sense of the word. They thrive off ego, winning, power, greed, narcissism and all those other lovely traits most people pulling similar moves seem to have.

Think Gordon Geko. Remove the pin stripe suit, fast forward 30 years and change the modus operandi from cynical asset stripping to cynical stock hyping and you get...

Edit: a more charitable view, in Pincus' case, is he isn't THAT evil and instead simply made a hugely expensive mistake buying OMGPOP. That wrecked the balance sheet and he's holding in there trying to recover.

999913y ago

That thing that you said there does not describe Andrew Mason in any way shape or form. He used to post on a forum that I spent a lot of time on in the early 00s. He's a clever, funny guy, and he took most of his lessons in ethics from Steve Albini. Before Groupon, he created The Point which was a group funding site for social initiatives that in many ways resembled Kickstarter.

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ahiOP13y ago

Not really. There's still money on the table so they are still playing.

j / k navigate · click thread line to collapse

0 comments

staunch13y ago

Don't you see how that defies the notion that it was a pump and dump? Why would they (with tens of millions of dollars) stick around?

No one can force them to stay. They're already obscenely rich. Think about what their motivations must be.

tptacek13y ago

staunch13y ago

If you think they're sticking around to make more money, then they must be trying to repair the company's stock price. Or you think they're still there out of a sense of pride or guilt.

Either way it's not a pump and dump, and their goal is to turn the company around.

1 more reply

corford13y ago

These guys obviously aren't the sort of people that are happy to lie by the beach reading a book, quietly enjoying their millions.

They're alpha dogs in the absolute worst sense of the word. They thrive off ego, winning, power, greed, narcissism and all those other lovely traits most people pulling similar moves seem to have.

Think Gordon Geko. Remove the pin stripe suit, fast forward 30 years and change the modus operandi from cynical asset stripping to cynical stock hyping and you get...

999913y ago

2 more replies

ahiOP13y ago

Not really. There's still money on the table so they are still playing.

j / k navigate · click thread line to collapse