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First, to state where I am coming from, I am biased: I appreciate Byrne's underdog role of refusing to submit to what he perceived as corruption through Wall St
by raintrees 7y ago
First, to state where I am coming from, I am biased: I appreciate Byrne's underdog role of refusing to submit to what he perceived as corruption through Wall Street (hence his Dutch Auction option) as well as uncovering the middlemen roles of front-runners in the stock exchange (among other issues).
So with that in mind, I label this article a type of hit-piece. What I see is a person (Byrne) who has made profitable companies as well as unprofitable ones, and who sets targets on difficult goals.
The political aspects of the whole Butina angle I treat with suspicious "wait until all the cards have finally been revealed" caution, since there seems to be extreme polarity in rhetoric on the political stage today. There have been far too many cases of "what we know that just ain't so" just in the last 10 years I have been paying attention to for me to assume all the facts are in. And when one challenges/attacks powerful figures, I expect there to be much uproar/furor.
He seems to be doing the same thing another successful client of mine has been doing, which is running one company to fund other ventures in other venues. The author's main focus seems to be only on the first business (Overstock), and on the effects the speculation by Byrne is having on it.
And Byrne is also the kind of person I try to be: When I want to learn something, I dig into it fairly deep. Unfortunately, I sometimes get quite angry at the corruption/unfairness of it all that I uncover during those deep dives. But that is another rant for another post.
I am still in a "wait and see" mode. If Byrne's expectations of providing blockchain-based land registries in countries that are suspected of being highly corrupt in regards to property rights are successful, that alone is going to improve many, many lives.
Likewise if the TZero platform can pick up speed cutting out the alleged Settlement middleman (DTCC/Cede, see lawsuit re: Milburg Weiss), the market may be more efficient, well, at least until the next group of people figure out another way to game it.
Mises video (around 45:20): https://www.youtube.com/watch?v=vFOpSTodk_U https://www.youtube.com/watch?v=vFOpSTodk_U - The whole thing is entertaining, if you have the time.
And Medici has MANY irons in the fire, if only a few of them work out, there is much good to be accomplished in the world from it/them.