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Facebook paid the Winklevoss twins like $50 million. Had they gone to a lawyer on day 1 and asked what to do the advice would've likely been, "don't steal their
by paulcole 6y ago
Facebook paid the Winklevoss twins like $50 million. Had they gone to a lawyer on day 1 and asked what to do the advice would've likely been, "don't steal their idea."
Get big enough and then use somebody else's money to pay off your multimillion dollar mistakes. Or go out of business and it won't matter anyway.
- strgcmc 6y agoThe trick is getting big enough and keeping the mistakes small enough. What if $50 million was enough to bankrupt/kill Facebook? A risk that has a 1% chance of wiping out 100% of your company, vs a risk that a 10% of chance of costing you 10% of your company, are not the same even though the net "expected value" is nominally 1% for both.
- paulcole 6y ago> What if $50 million was enough to bankrupt/kill Facebook? If if's and but's were candy and nuts then we'd all have a merry christmas. If $50 million could bankrupt FB then the Winklevoss twins would have never got that much.