Thursday, June 11, 2015

Welcome to the terrordome next internet bubble - What I am reading 6/11/2015

Wall Street Journal - Tech Startups Woo Investors With Unconventional Financial Metrics — but Do Numbers Add Up? -

Up-and-coming companies that see themselves through rose-colored glasses are of little concern to many venture capitalists and other investors as long as growth remains strong. Many tech-company executives say nontraditional numbers often are a better barometer of a firm’s progress at luring customers, outrunning competitors and pushing the company’s value higher.
Skeptics claim that the practice is yet another sign that the tech sector is plagued with overconfidence and setting itself up for a fall. They say investors who go along with vague, unconventional financial terms are inflating valuations and leaving almost no room for error at fledgling technology companies.
anyone else remember the year 2000 and the dotcom bubble bursting? Oh wait:

During the dot-com bubble of the late 1990s, some young companies cited runaway growth in “eyeballs,” website visitors and other non-GAAP terms. The current crop of publicly traded tech companies includes some that report two sets of earnings. One is based on generally accepted accounting principles. The other excludes certain charges, especially stock-based compensation for employees.
“The chances of surprises go up a lot more,” says Venky Ganesan, a venture-capital investor at Menlo Ventures. “It’s not to say the numbers are wrong, but that’s when caveat emptor really applies.”
So everyone knows the numbers are bullshit, they just play along because it's a giant ponzi scheme that will last until they can't find anymore investors.  Then the compnay dies or if enough of the die at once the market crashes - again.


This is a long read with a lot of links to legal filings, text messages, transcripts, etc.  
Short version - Guy goes to party with girlfriends roommate.  Get's drunk passes out / blacks out.  Gets blowjob.  
After blowjob girl screws another guy while texting friend about blowing her roommates boyfriend.  Drama ensues.  All of girls friends declaring her a slut and abandon her.  
Two years later she has new friends who are active in the campus rape movement.  Tells her story.  
"OMG, you were raped"
Girl reports rape.  Investigation.
Investigation inconclusive.  Girl lies about both sexual encounter and events following.  Investigation inconclusive but concedes guy was blacked out.  Under Amherst rules he cannot possibly consent to sex.
Tribunal.  "You are a guy and therefore are guilty even though the evidence and our rules says that you are actually the victim"
Guy expelled.
Gets lawyer.  Lawyer finds texts that indicate girl lied and guy is innocent.  Amherst - "Sorry, he is a guy and therefore must be punished"
Guy sues college.
Literally, under Amherst's rules and thru the finding of their investigation the guy was the victim and he was subjected to a disciplinary expulsion and labelled a sex offender.  Read the story it's a trip.

BTW - I saw this two other places first but since they never feel fit to credit me when I provide a tip to them they can suck my ass I am not crediting them.

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