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BWM: http://www.nfl.com/news/story/0ap3000000921045/article/titans-to-sign-malcolm-butler-to-fiveyear-61m-deal Paying $12m/year for one of the worst corners in the league.
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Mar 14, 2018 13:45
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Sports are too easy. There are tons of bad players getting overpaid, and good players being underpaid. BWM is how MLBPA let's it's young stars get severely underpaid, but GWM in how the veterans often get way overpaid to make up for it. For NFL, see how much the Bears paid Mike Glennon to play like 5 games before they benched him last year. $18 million
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Mar 14, 2018 14:51
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https://www.cnbc.com/2018/03/14/former-equifax-executive-charged-with-insider-trading-ahead-of-data-breach.htmlquote:A former Equifax executive faces insider trading charges by the Securities and Exchange Commission in connection with trades he made before the company announced a massive data breach last summer. quote:Because of the trades, Ying was able to avoid $117,000 in losses, the SEC said Wednesday.
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Mar 14, 2018 15:34
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Solice Kirsk posted:He's retired and an avid coin and money collector. The tellers all love him and will actually put interesting things on the side that come through and he'll sit in the lobby drinking coffee and being a general pain in the rear end for hours. I, being one of two guys in the branch, get to carry out the ingots of coins he orders. Back in the 1990’s a girl and her scuzzy looking boyfriend came to one of our teller windows and proceeded to cash in several hundred hundred dollars in silver quarters her grandfather had given her. The teller recognized the particular silver clink and made an admirable effort to deter her before finally cashing it in and then buying all the coins for himself. I never got anything good. Back then it was still hypothetically possible to find a $500 bill, but the best I found were 30 year old Travelers Cheques. If you like old coins, you should check out the Xenopus ancient coin buying and selling thread in SA Mart.
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Mar 14, 2018 15:50
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This is the BWM thread. Overpaying an athlete to play a sport professionally and reducing your odds of winning, but still turning a profit selling tickets & advertising associated with the sport your overpaid employee plays, is good with money.
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Mar 14, 2018 16:17
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Bad with money - fraud. https://www.bloomberg.com/news/articles/2018-03-14/theranos-ceo-elizabeth-holmes-accused-of-fraud-by-sec
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Mar 14, 2018 17:43
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EAT FASTER!!!!!! posted:Bad with money - fraud. So how much is she actually worth outside of her stock? That article says the fine is only $500,000 which is probably peanuts for the CEO of a company that size which make the fraud GWM overall.
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Mar 14, 2018 18:08
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OctaviusBeaver posted:So how much is she actually worth outside of her stock? That article says the fine is only $500,000 which is probably peanuts for the CEO of a company that size which make the fraud GWM overall. Nothing, worthless. Her stock is worthless, she's worthless. She wasn't "the CEO of a company that size (like this was a normal company with traditional executive compensation)," she founded a venture-fired startup and her compensation was always in shares of her moon pie company. She took deal after deal for venture funding that left her with roughly half the stock of the business and it's since been made worthless. I wouldn't be surprised if the fine bankrupted her completely.
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Mar 14, 2018 18:16
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I thought she had a net worth of essentially nothing right now,
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Mar 14, 2018 18:16
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Paper net worth is relative when you're a well connected ex-CEO. You can always secure new funding through rich friends you've made along the way.
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Mar 14, 2018 18:19
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She's not "an ex-CEO" and she'll be lucky if she's not "an ex-con" by the time all of this is over. She defrauded investors for literally 800 million dollars on the promise she could do something that was and remains impossible. Elizabeth Holmes was never anybody before Theranos, she was a nice resume at Stanford with a little bit of lab experience and then all of a sudden she's in the right circles and those of us who are in biomedical sciences are like, "hold up what the gently caress she's claiming she can do WHAT?!" And basically when it comes to life sciences in Silicon Valley everybody wanted to believe the best and also do as little digging as possible. John Carryrou at the WSJ has done a great series on the company basically making the SEC's case for fraud as a matter of routine journalism. I have a friend who was hired there who left within 2 weeks because it became suddenly, immediately and overwhelmingly obvious that they had not, would not and in fact could not develop the technology necessary to do the things they claimed it could.
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Mar 14, 2018 18:20
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That's true, she did break the one cardinal rule, you don't gently caress with other rich people's money, you only exploit the lower classes. Example: https://twitter.com/eugenegu/status/972256286774628352
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Mar 14, 2018 18:27
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EAT FASTER!!!!!! posted:Bad with money - fraud. I wonder how the hell someone destroys their life this badly, like whether the lies were the plan all along or if the tech just didn't come together and she was stuck spinning more to buy time. Looking forward to the biopic starring Jennifer Lawrence
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Mar 14, 2018 18:28
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Eldred posted:I wonder how the hell someone destroys their life this badly, like whether the lies were the plan all along or if the tech just didn't come together and she was stuck spinning more to buy time. Looking forward to the biopic starring Jennifer Lawrence She was lying about the technology from the beginning. The whole premise of a machine/process that can test for all those different things with a tiny sample was pulled from thin air and is utterly impossible with known techniques. I don't know if she just expected to hire a bunch of geniuses who could magically make whatever voodoo she promised possible, but she had none, literally no basis for the technical promises she was making. This was beyond "buying time"
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Mar 14, 2018 18:34
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She missed the part where she’s supposed to flee the country after the pump and dump.
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Mar 14, 2018 18:36
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Was she able to take money out?
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Mar 14, 2018 18:38
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Subjunctive posted:Was she able to take money out? She owes the company $25M for executed options. So, no?
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Mar 14, 2018 18:40
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Her dad is a super connected ex CIA (most likely, officially was usaid) guy which is how she got kissinger and all these other military guys on the board and secured early funding despite having taken a few general science classes in college she'll be fine and it's ridiculous she avoided prison so easily
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Mar 14, 2018 18:47
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Her dad was also an Enron executive and James Mattis (the secretary of defense) was on the Theranos board while the fraud was happening. Of COURSE she's escaping significant punishment.
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Mar 14, 2018 18:53
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EAT FASTER!!!!!! posted:I have a friend who was hired there who left within 2 weeks because it became suddenly, immediately and overwhelmingly obvious that they had not, would not and in fact could not develop the technology necessary to do the things they claimed it could. EDIT: It was privately held, I'm a dummy. But this guy could've broken one hell of a story.
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Mar 14, 2018 20:19
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I buy stocks because I'm pretty sure they're gonna go up... How can it be wrong to sell them when I know they're about to go down!!
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Mar 14, 2018 20:20
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You know, I learned about Theranos when they first sprang up because I had worked for Walgreens as a tech since 2004 and it sounded fascinating. Despite my ability to work in a lovely industry for a lovely company, I did actually have a couple brain cells to rub together and immediately started bitching about how what they were saying they could do was patently bullshit. I was furious when Wag went and partnered with them--that and a string of similar decisions was basically why I left. So, I don't wanna say 'I told you so,' but I literally told a lot of people that Elizabeth Holmes was a scam artist or actually believed in voodoo. Every single entity which intentionally gave money to Holmes or Theranos 500% deserves to get turbofucked, and if they did it by accident they need to be slapped a couple times until they learn to start paying attention. A lot of patients were directly harmed by this poo poo and every org which got involved has lost all credibility. When your business is supposedly health care, lack of credibility raises an already significant barrier to patient education and compliance.
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Mar 14, 2018 21:23
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CVS doesn't sell smokes.
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Mar 14, 2018 22:03
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My old employer Cox invested $100 million in Theranos and all of their yearly Powerpoint presentations would tout their diversification into medical technologies. Probably would have been better off investing in Martin Shkreli. He at least might still have a copy of that Wu Tang album.
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Mar 14, 2018 23:59
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Theranos in a statement posted:that it was “pleased to be bringing this matter to a close and looks forward to advancing its technology.” What do they actually DO? I mean, this is like if Enron showed up today and said they're still shifting new paradigms in a transitioning marketplace 
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Mar 15, 2018 00:11
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balancedbias posted:What do they actually DO? I mean, this is like if Enron showed up today and said they're still shifting new paradigms in a transitioning marketplace Fraud is literally all they actually do. Holmes is barred from working in labs for 2 years and isn't sane enough to hide inside a similar company--she's obsessed with being a Steve Jobs-esque proselytizer CEO. What they supposedly did was develop lab tech that would allow a wide array of blood tests using only a single drop of blood, do it cheaper than everyone else, and do it faster than everyone else. What actually happened is that patients went into these clinics inside Walgreens for lab tests their doctors ordered and had small amounts of blood drawn and sent to Theranos, who actually performed the tests using conventional lab equipment in most cases, or returned inaccurate and/or inconsistent results using their own equipment, and took longer to do it. They charged people and CMS for these bunk tests that didn't work. People often had to come back to give more blood. When the cat got out of the bag that Theranos was actually using conventional lab equipment, they claimed they were doing it to validate their results when Holmes managed to poo poo out anything like addressing the issue. They refused to publish any results on their method in peer reviewed journals. They did tests on people using medical devices before even applying for FDA approval. Theranos was so bad that it seems they didn't even have reliable finger stick glucose tests. This is a test that gives accurate, consistent results using a small drop of blood in a handheld machine that manufacturers literally give away (to get you to buy the strips but still).
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Mar 15, 2018 00:52
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Mar 15, 2018 01:21
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So if I sell MLM whatever I will still be eligible for food stamps? Sounds like a good use of my time.
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Mar 15, 2018 01:24
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Holy poo poo this entire thing, in the subreddit for making fun of bitcoiners, of all places: https://www.reddit.com/r/Buttcoin/comments/84ebq9/i_bought_in_please_help/ Guy loses his shirt in Crypto. Same old story quote:OK, so I lost my job about a month ago. I was looking for ways to making money and came across some crypto hype and wound up getting sucked in. Only a little at first, but it got more and more addictive. I've been consuming crypto firendly media exclusively and pretty much became a devotee. Until I came across this sub-- this morning has really opened my eyes. Not only are /r/buttcoin users exponentially smarter than crypto holders, but they seem to have a much better grasp on blockchain technology and its limitations that butters do. Ok, so guy made a really stupid mistake and understands it, and posts about it to the people who have been calling it dumb the whole time. What makes it special? Read on. quote:Should I just cut my losses and walk away now? Or do I try to get my money back? And is he responding to helpful advice in the comments? You know he is. quote:
quote:
He does say he thinks about suicide, but he also says he isn't serious, so there probably is some mental health stuff going on to temper some of the ridicule.
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Mar 15, 2018 01:25
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What is the draw of MLMs for SAHMs?
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Mar 15, 2018 02:00
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Cacafuego posted:What is the draw of MLMs for SAHMs? You want a career and to feel like you’re contributing beyond raising the kids but you’re too busy for a “real” job. MLM is something you can do in your normal daily routine. Plus they sell you hard on self empowerment. Edit: Emotional drag of being a SAHM is real for a lot of people. My mom was chomping at the bit to get it and work again.
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Mar 15, 2018 02:02
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NancyPants posted:Fraud is literally all they actually do. Holmes is barred from working in labs for 2 years and isn't sane enough to hide inside a similar company--she's obsessed with being a Steve Jobs-esque proselytizer CEO. What they supposedly did was develop lab tech that would allow a wide array of blood tests using only a single drop of blood, do it cheaper than everyone else, and do it faster than everyone else. What actually happened is that patients went into these clinics inside Walgreens for lab tests their doctors ordered and had small amounts of blood drawn and sent to Theranos, who actually performed the tests using conventional lab equipment in most cases, or returned inaccurate and/or inconsistent results using their own equipment, and took longer to do it. They charged people and CMS for these bunk tests that didn't work. People often had to come back to give more blood. When the cat got out of the bag that Theranos was actually using conventional lab equipment, they claimed they were doing it to validate their results when Holmes managed to poo poo out anything like addressing the issue. They refused to publish any results on their method in peer reviewed journals. They did tests on people using medical devices before even applying for FDA approval. Oh I know what Theranos was supposed to be working on (it was fun lunchtime talk because even the dietary people at the hospital knew it was bullshit from the way we disparaged it). What I meant was what are they doing now that it's all exposed? Why do they still exist?
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Mar 15, 2018 02:06
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NancyPants posted:Fraud is literally all they actually do.
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Mar 15, 2018 02:10
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Snake oil must have an exceptionally high smoke point.
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Mar 15, 2018 02:23
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Cacafuego posted:What is the draw of MLMs for SAHMs? SAHMs are the right combination of often being short on cash because living on one income is hard (and also possibly not having control over that money), having lots of friends to potentially sell to, free time, and sometimes a lack of experience with actual jobs and how businesses work. MLMs are huge in Utah, for example, because Mormon families are very patriarchal and this could theoretically allow women to contribute financially to the home, or get some spending cash for herself. MLMs can totally prey on other demographics, but SAHMs have all the right ingredients for wanting to believe the promises of the MLM and not having the savvy to recognize it as a scam.
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Mar 15, 2018 02:26
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balancedbias posted:Oh I know what Theranos was supposed to be working on (it was fun lunchtime talk because even the dietary people at the hospital knew it was bullshit from the way we disparaged it). What I meant was what are they doing now that it's all exposed? Why do they still exist? Yes, they've gotten an injection of 100m. Their only viable product is the miniLab: https://www.wsj.com/articles/blood-testing-firm-theranos-gets-100-million-lifeline-from-fortress-1514057523 quote:After closing its laboratories in California and Arizona, Theranos has refocused its strategy on commercializing a device called the miniLab that miniaturizes various lab instruments and packs them into one box. However, this strategy requires getting the box approved by the Food and Drug Administration. For now, the only application Theranos is working on submitting to the agency is for a test to detect Zika, the mosquito-borne virus that causes severe brain malformations in infants, with the device. Theranos was a black box led by a dictator (Holmes) and her cronies (a bunch of generals), who have no actual domain knowledge relevant to the company. It sounds like there's a small change in the company, maybe Holmes is no longer at the helm or she's actually taking advice from others. The shift from Edison machine to miniLab is hilarious. They've gone from attempting to replace hundreds of conventional blood tests to a (traditional) blood test for a relatively easy to detect organism.
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Mar 15, 2018 02:26
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Krispy Wafer posted:The teller recognized the particular silver clink and made an admirable effort to deter her before finally cashing it in and then buying all the coins for himself. Im just curious: how is that sort of thing handled? Did your bank have a proper process for staff buying the coins, or did he just have someone watch as he replaced the coins with notes out of his own pocket?
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Mar 15, 2018 03:22
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Weatherman posted:Im just curious: how is that sort of thing handled? Did your bank have a proper process for staff buying the coins, or did he just have someone watch as he replaced the coins with notes out of his own pocket? I asked a teller at work something like thisa long time ago, basically as long as it is witnessed and the count comes up, you are ok. They would go out of their way to make sure everything is counted up right. I think this came up because of them was collecting quarters or something and would dig through the change before it was rolled up. That was some ago though, I imagine polices changed.
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Mar 15, 2018 04:19
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balancedbias posted:Oh I know what Theranos was supposed to be working on (it was fun lunchtime talk because even the dietary people at the hospital knew it was bullshit from the way we disparaged it). What I meant was what are they doing now that it's all exposed? Why do they still exist? https://twitter.com/boring_as_heck/status/773394312692457472
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Mar 15, 2018 04:37
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https://www.reddit.com/r/personalfinance/comments/84huks/i_just_discovered_that_i_owe_the_irs_50k_that_i/quote:I make $47k a year at my job as an office assistant.
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Mar 15, 2018 04:39
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