The only truth behind the conventional "wisdom" that a billionaire made penniless could become a millionaire again within a year is ENTIRELY DEPENDENT upon their social capital. If you're a famous billionaire, you'll have people willing to throw money at your nonsense investment opportunity based purely on your name and former status.

If you're some guy nobody's ever heard of with some daddy money and you somehow manage to lose it all, you're fucked. This guy will never admit he was wrong, he was simply failed due to regulation or something.

[–] Creakybulks@hexbear.net 89 points 6 months ago* (last edited 6 months ago) (3 children)

i saw a twitter thread on this and IT'S EXACTLY WHAT HAPPENED. he used whatever social media pull he still had to create a startup for coffee sales or some shit.

[–] Philosoraptor@hexbear.net 57 points 6 months ago (1 children)

It was a "coffee for dog lovers" business. Just the dumbest mad-libbed business bullshit you could come up with. Self-parody.

[–] DamarcusArt@lemmygrad.ml 43 points 6 months ago

They already have that though. It's just called "coffee"

I hate this "entrepreneur" bullshit.

[–] CreamarySteamary@hexbear.net 44 points 6 months ago

I thought it was BetterHelp but for dogs.

[–] keepcarrot@hexbear.net 38 points 6 months ago

And then failed?

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