|
|||||||
| Politics, World Affairs Change up the chat and talk about important issues of the world |
 |
| Thread Tools |
|
#1
|
||||
|
||||
Loser - Hustler - Mediocre Business Skills
"Donald Trump is a 'loser' and a 'hustler' with 'mediocre' business skills." ~ Michael Moritz
One of Silicon Valley's top venture capitalists, Michael Moritz, is the chairman at the venture-capital firm Sequoia and a former member of Google's board of directors. To The Bright And The Rich Of Silicon Valley, Donald Trump Is A Loser by Michael Moritz Mr. Trump is, by Silicon Valley standards, and to use an epithet Mr. Trump so readily lets loose on anyone that arouses his ire, “a loser” — both for what he stands for and because of his business performance. The women and men of Silicon Valley welcome open borders. They are not nationalists who stir up dark memories of purges, pogroms, the 1930s, Latin-American strongmen or Central-African dictators. They run their companies eager to recruit the very best — whether or not they worship in mosques. They do not see women as objects to be abused or demeaned. They are willing to compete with all comers. In Silicon Valley Mr. Trump fails to get more than a passing grade for his business skills because his actual performance, compared to the myth he has assiduously cultivated, is so mediocre. Look at the arithmetic. Assume $30m was plonked into a Standard & Poor’s index fund in 1968, when Mr Trump started to work in his father’s business, and leveraged, like many real estate deals, at about 66 per cent. This would now be worth $4.5bn, or about the same as Forbes estimates Mr Trump is really worth (as opposed to the much larger and entirely unverified number he has insisted upon). That same sum placed in the hands of Warren Buffett, who has achieved a compounded annual gain of 19.2 per cent since 1965, would be worth $229bn. Even a student refused a degree by Trump University, assuming the academic provost of that distinguished institution could find such a person, would have done as well as Mr. Trump by just parking that lump sum with S&P and letting loose the power of compound accumulation. The astonishing thing about Mr. Trump’s business career — given what he received — is not how much he has achieved but how little. You need only glance across New York to find two examples of people whose business careers put Mr. Trump’s in the shade. They are Michael Bloomberg, the former mayor of New York and one of the great entrepreneurs of the past 50 years, and a less well known figure, Stephen Ross, the founder and chief executive of Related Companies, who has easily beaten the presumptive Republican nominee for president of the United States on his home turf — real estate. Compared with Mr. Bloomberg and Mr. Ross, Mr. Trump is a hustler who takes from the rich (lenders he has short-changed, partners he has sued) and also takes from the poor (hapless students of Trump University, tenants whom he has bullied). Financial Times http://www.ft.com/cms/s/0/edc391ea-3...#axzz4HZ87BagD Business Insider http://www.businessinsider.com/sequo...nessman-2016-6 Fortune Magazine http://fortune.com/2016/06/16/michael-moritz-trump/ 
|
|
| Bookmarks |
|
|
