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My understanding is even without fame, if you get anywhere interesting in the business world you'll need to get comfortable with litigation. Every wealthy perso
by ikeboy 7y ago
My understanding is even without fame, if you get anywhere interesting in the business world you'll need to get comfortable with litigation. Every wealthy person is entangled in it, even people you've never heard of that "only" have 50 million.
- dman 7y agoThis is an eye opener, I didnt realize it was that bad.
- swat535 7y agoI personally know some "law firms" (notice the quotes) that specialize in bogus class action lawsuits. They just gather whatever random evidence they can, from news paperclips to emails and then threaten big companies. Then quickly settle for ~700k-2M as a cash grab instead of going to court. Majority of big companies pay up instead of going to court. To cut costs, these firms also operate on only free interns and maybe have 1 or 2 actual lawyers.
- mam2 7y agoSeems like a nice side project
- spurdoman77 7y agoBut not passive income though
- mam2 7y agoAlmost no ? With the interns
- lacker 7y agoIt is certainly not true that every wealthy person is entangled in litigation. Your typical not-famous, post-exit startup founder just doesn’t have any reason to get sued by anybody.
- ikeboy 7y agoIf they completely retire and just live off interest, sure. If they invest in real estate, other businesses, etc? They're going to be involved. I'm sure there's some exceptions.
- vjeux 7y agoFyi, lacker who commented is the co-founder of Parse which got sold to Facebook and likely is in touch with a lot of founders with similar experience.
- ikeboy 7y agoI've been in touch with lots of business owners who have been involved in litigation, and I'm currently in one myself.
- toast0 7y agoSure, but if you rent out anything, you're going to be in court sooner or later. There's usually some wealth component to having something to rent out, but you don't need Internet Millions to do it.
- ikeboy 7y agoAgreed. Can stick with stocks and REITs to avoid that.
- danbmil99 7y agoThis. Any company with any kind of marketing footprint is going to be the target of numerous lawsuits, from disgruntled employees, investors, shareholders, customers Etc. The people who do best with Fame are like Bill Clinton, who ignored impeachment and went on to be a popular ex-president. You have to be able to compartmentalize. If you're the sort of person who takes things personally, let's things get under your skin, well, I think the public life is simply not for you.