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#Valuations

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Public
Kevin Dominik Korte

Just imagine the number of lives we could save with $40 billion. Instead, we are giving it to a company whose main products are press releases and hot air (literally and figuratively).
If that wasn't enough, OpenAI also has no plan for profitability. They are just hoping that the next big thing will change their trajectory.
#AI #valuations
reuters.com/technology/artific

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Kevin Karhan :verified:

@GossiTheDog "#valuations" are just batshit crazy made-up amounts.

  • Like as if someone pays $1.000 to get 1‰ stake in it, the company is valued $1.000.000 by going reverse, when in fact that could merely mean it's a security on a credit / gamble and not much else.

  • I mean, a house doesn't get valued €100k just because someone was able to get a credit for that amount by puttibg it up as collateral in return.

The #valuation-based #hype doesn't do much except "line goes up" as a company before/after/between deals doesn't gain more assets or clients or orders nor produces more value, products, revenue or even IP.

  • In teal life, somethibg is only as valuable as the money (cash) one is willing to put down for it: A luxurious condo or collectible car is only as valuable as the highest bid it can attain in short notice! Same with any business!

A kiosk doesn't get valued much beyond it's assets as it's only "added value" beyond it's merchandise and interior usually gets offset almost completely by it's long-term commitments as in contractual obligations!

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Chuck Darwin

Trump reveals he made $300,000 selling Bibles and has big cryptocurrency stash

Financial disclosure shows presidential nominee owes $500m in #civil #penalties but sheds little light on #solvency

Donald Trump made hundred of thousands from his branded #Bible and millions from his #properties
– but also owes millions for #defamation and #fraud cases, according to his latest financial disclosures that shed little light on the perennial question of whether the Republican presidential nominee is, in fact, solvent.

Voluminous disclosure documents to the US Office of Government Ethics to comply with election campaign laws show that,
in addition to Trump’s US real estate holdings,
he has global financial interests, including registered #trademarks in China, Saudi Arabia, Iran, Ukraine and Israel.

He also owns millions in #cryptocurrency and has a six-figure investment in #gold #bars.

But the disclosures also hint at Trump’s substantial personal outgoings,
👉including more than $500m owed to both the writer E Jean Carroll and the New York attorney general -- resulting from civil judgments involving defamation and accounting fraud.👈

Both judgments
– $83m to Carroll and
– $454m to New York state
– are subject to bonds while Trump appeals the decisions,
a process that could take years.

Trump’s #MarALago home and private club in Florida, which formed part of a case against the Trump Organization involving #inflated asset #valuations,
produced about $57m in income from the club, down about $8m from a previous disclosure.

The disclosures are not a profit-and-loss balance sheet
– they only give broad ranges of income and assets
– so alone they cannot determine whether Trump is in the red or the black.

He has consistently resisted efforts to force the release of his tax returns,
although two years ago a Democrat-controlled Congress released six years of Trump’s tax returns,
dating to 2015, the year he announced his presidential bid.

theguardian.com/us-news/articl

The Guardian · Trump reveals he made $300,000 selling Bibles and has big cryptocurrency stashBy Edward Helmore
Continued thread
Public
Nonilex

Solomon shows #Weisselberg an agreement he signed w/ #Mazars, showing his obligations sharing data w/ the #accounting firm:

"The Statement referred to above is fairly presented in conformity w/ accounting principles generally accepted in the United States of America."

Asked if he was obligated to provide Mazars w/contradictory info about #valuations, Weisselberg starts launching into a monologue.

Solomon interrupts, noting it was a yes or no question.

Then, Weisselberg says "yes."

#Trump
Continued thread
Public
Nonilex

#Weisselberg, a #defendant testifying as a prosecution #witness, is expected to testify about his role in preparing Trump’s annual #financial statements — incl’g conversations they had while finalizing docs, which were given to #banks, #insurers & others to make deals & secure #loans.

James’ lawsuit alleges Weisselberg engineered #Trump’s #financial stmnts to meet his demands they show increases in his #NetWorth & signed off on lofty #valuations for #assets despite #appraisals to the contrary.

Continued thread
Public
Nonilex

Back to #McConney #witness / #defendant #testimony:

#NYAG #Amer delves into a flagrant instance of #fraudulent #valuations.

#Trump’s #SevenSprings estate planned to build 7 mansions on the property valued at $23M each.

McConney confirmed that in 2012, #EricTrump was involved w/the development of the #Westchester, NY, property & that he (McConney) assumed all necessary approvals were obtained prior to build.

#TrumpTrial#law#legal
Continued thread
Public
Nonilex

Christopher #Kise delivered the opening statement for #Trump. Kise had not really engaged directly w/the arguments about the specific #valuations made by the AG’s office.

As Kise began his opening statement, Trump appeared bored, yawning & fidgeting in his seat

Kise did not diverge from the party line, or his previous, unsuccessful arguments, at least so far.

#law#legal#fraud
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