Vennefits in the news

This company is having trouble with too much party going on in the work place.  So they cracked down on it and issued some “adult” rules.  I found the story on drudge.

  1.  They go on an on about this company being valued at $4.5 Billion.  But they only have 20 million in annual revenues.  That’s not profits, that’s revenues.  Do the math.  It takes 225 YEARS to make 4.5 Billion from that revenue.  What kind of moron would go out on a limb and assign an evaluation of such an absurdly large number?  This is how the whole Dot-com bubble burst and how guys operating companies with fewer than 100 employees and no net assets suddenly became billionaires in the 90’s.
  2. If you look at the pictures, you will notice all the employees (and there aren’t many of them) are all young people.  Funny thing about young people.  They are CHEAP to employ on top of being cheap to ensure since they likely are healthy.
  3. I can only assume that professional investors, using other people’s money, are throwing fist fulls at this company.  The company insiders will sell stock, that they created out of thin air and that have no assets to back and become fabulously wealthy.  The people who buy the stock will get a percentage of sale as commission.  The people who put up the money will hope they can unload the stock at some point in the future after collecting no dividends from profits for ten years.  There is no reason at all to value this company at more than ten years total revenues.  Anything more than that is a scam.  A deception.  A fraud.

Is that why this story is in the news at Drudge?  No.  Drudge doesn’t care that the stock market is defrauding millions of working “investors” in risky gambles that transfer wealth from lower middle class wage earners with 401(K)s to super wealthy millionaire brokers and billionaire CEO’s selling thin air assets.  Drudge is telling you about this because…

… at least one couple had sex in a stairwell.

Good job Drudge.  Good Job Daily Mail.  Awesome consumer protection.  Way to spot the important things.

About No One

I am totally non-threatening
This entry was posted in "Journalism", Computers, Crime, Current Events. Bookmark the permalink.

2 Responses to Vennefits in the news

  1. Heresolong says:

    Wait, they attracted $500 million in investment and were valued at $4.5 billion WHILE they were partying and having sex? And the response of management was to fire the guy in charge and hire some stick in the mud to tell everyone to stop? Shouldn’t you change your behavior if it results in negative consequences, not just because?


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