On the album, I assume it must not be very good so turning it into a collectors' item maximized revenue.
Anyway, I don't know why but I am happier knowing this guy was arrested.
Maybe the FBI can seize the album and have a listen.
Rule 1 is don't do securities fraud but rule 2 is definitely don't make everyone hate you.
Wu tangs last album did not do so great sales wize:
http://news.hiphopearly.com/wu-tangs-better-tomorrow-flops/
I really hope they did it because when they sat down to listen to it after recording it they discovered that it was completely, utterly awful, and that this plan was a way to recoup their costs without actually letting people hear the thing.
That's why I'll do it with my first album.
I think the rule about not making everyone hate you should come first and the rule about securities fraud should be "don't get caught doing securities fraud." Lots of people have done very well for themselves out of securities fraud.
Maybe if I just did a little bit of securities fraud, I could make enough to retire already.
Brooklyn-born Shkreli will be charged for illegally using Retrophin assets to pay off debts after MSMB lost millions of dollars, sources told Reuters.
Am I misunderstanding the charge, or does this stretch the definition of "securities fraud" beyond all meaning? This sounds like good old fashioned embezzlement / misappropriation of corporate assets.
Any crime committed near a hedge fund is securities fraud. Because the real victim is capital.
Meanwhile, jacking AIDS patients on their pharmaceutical costs isn't just legal, its important profit-maximizing behavior that is needed to provide value to your investors. From a certain perspective, its unethical not to jack AIDS patients on their pharmaceutical costs.
From a certain perspective, its unethical not to jack AIDS patients on their pharmaceutical costs.
I think this is exactly the thinking of the Randian Overlords who dominate the finance industry. Screwing people out of as much money as possible is not just OK, it is meritorious. Greed is good, after all. OTOH could be that Shkreli is just your garden-variety sociopath.
he made thst argument actually, that the drug was objectively too cheap.
Because they're in competition with the asshole in the next finance firm over - if you don't screw people out of money, he will - and it goes without saying that the people will get screwed out of money.
Probably fake, but this bit has been going around the internet about the Wu-Tang album sale contract:
The buying party also agrees that at any time during the stipulated 88 year period, the seller may legally plan and attempt to execute one (1) heist or caper to steal back Once Upon A Time In Shaolin, which, if successful, would return all ownership rights to the seller. Said heist or caper can only be undertaken by currently active members of the Wu-Tang Clan and/or actor Bill Murray, with no legal repercussions.
It does not speak well of the Wu-Tang Clan that they sold their album to this douchebag.
Apparently one of them hastened to claim that they didn't know it was him when he bought it.
I don't think you should be allowed to buy the only copy of a Wu-Tang Clan album without first being subjected to a background check.
I heard on a podcast that the heist clause has been established as a fake, so it must be true.
It's not every day that the FBI shows up to arrest a troll, but it sure is satisfying when it happens.
Good! I hope the US has a solid case.
I am madly liking this arrest at FB. My sister's organization has had to prescribe Bactrim as a replacement.
In similar hating-related news the affluenza kid and his mother have disappeared after (alleged) photos of him drinking showed up.
What I mainly remember is that the hospital affiliated with the world's most evil university in the Midwest defended the giant price hike, saying they could call up Sh/kreli and get a discount. This is the place that charges x2 for every surgery cost, as they count cutting you open as one surgery and stitching you back up as a separate one.
Also my friend's friend went to high school with him, and said he was an asshole back then too.
Good! I hope the US has a solid case.
The complaint seems like a slamdunk, assuming the facts are as described.
At some point, he's going to have to sell the album to pay legal bills, right? Unfortunately, the kind of person willing to spend money that would help that guy with his legal bills is probably the same kind of person who still won't share the album.
24: His affliction has probably forced him to seek treatment in a country with low levels of extradition.
25.1: That's funny, normally the forces for exorbitancy love it when other actors are caught at something, as it gives them someone else to blame.