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[TechCrunch] Federal Judge To Winklevoss Twins: Facebook Won, Deal With It

post #1 of 34
Thread Starter 
Quote:
Looks like the Winklevosses won’t be seeing any more money out of Facebook. The 9th Circuit Court of Appeals has ruled this morning that the twins will have to accept their original settlement of $65 million in Facebook shares which are now valued at $100 million. Poor things.
Source


God, how greedy can people get!
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post #2 of 34
Quote:
Originally Posted by JCG View Post
Source


God, how greedy can people get!
I feel really bad for them, I mean, $65 million is clearly NOTHING compared to $100 million! They really got ripped off here :\\ /sarcasm
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post #3 of 34
Tell em' to go row some more.
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post #4 of 34
Quote:
“If you guys were the inventors of Facebook, you would have invented Facebook.”
Sums up my thoughts tbh.
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post #5 of 34
Quote:
Originally Posted by r34p3rex View Post
I feel really bad for them, I mean, $65 million is clearly NOTHING compared to $100 million! They really got ripped off here :\\ /sarcasm
They are getting $65 mill worth of shares which have increased in value to $100, no?

So they're getting $100 mill essentially.
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post #6 of 34
Well if Facebook is valued at $50 billion and they received about $100m, then you need to judge how much influence they initially had on the creation of Facebook. What if their "efforts" were worth 2% of the company, $1billion? That's quite a difference already and there's $49billion left in that pot.
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post #7 of 34
Quote:
Originally Posted by Benladesh View Post
They are getting $65 mill worth of shares which have increased in value to $100, no?

So they're getting $100 mill essentially.
Hmm I kinda missed that.. can anyone clarify? Now I'm confused
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post #8 of 34
Alright this is insane. I feel we as OCN need to set an example on the internet, and in this world. I propose we start an official Charity to raise money for these two poor souls who have had to make severe cutbacks in their quality of life. I can't even imagine what it would feel like to have to sell 20 of my sports cars and 3 of my mansions because I did not get a good settlement.
post #9 of 34
Quote:
Originally Posted by r34p3rex View Post
Hmm I kinda missed that.. can anyone clarify? Now I'm confused
When the settlement was decided the shares were worth $65million. When they appealed it, the shares were then worth $100m and they didn't even know it.
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post #10 of 34
Ok I think I figured out this situation. They settled back in 2008 for $65 million, but now that Facebook's value has increased, they're looking for an equal increase to the tune of $100 million. They're openly settled for X amount and now want Y amount, sorry boys, but it doesn't work like that.
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