[JCG]

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!

 

[r34p3rex]

Quote:

Originally Posted by JCG;13087275
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

 

[Alfwich]

Tell em' to go row some more.

 

[FallenFaux]

Quote:

"If you guys were the inventors of Facebook, you would have invented Facebook."

Sums up my thoughts tbh.

 

[Benladesh]

Quote:

Originally Posted by r34p3rex;13087645
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.

 

[SkillzKillz]

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.

 

[r34p3rex]

Quote:

Originally Posted by Benladesh;13087691
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

 

[CorkyFan]

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.

 

[SkillzKillz]

Quote:

Originally Posted by r34p3rex;13087712
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.

 

[r34p3rex]

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.

 

[Hephasteus]

It's alright facebook will post homeland security junk and get billed massive amounts for it and taxpayers will pay for it. And JP morgan will continue trying to push arm on everybody even though they bought the processor for pennies on the dollar after using intel to destroy them.
And facebook will have to sign up every single person on the planet to justify thier current valuation which means every taxpayer on the planet will have to take the place of every willing person on the planet through force. So let's see what homeland security wants us afraid of. Because it sure isn't government agencies with the right to pay huge freaking stupid bills on the taxpayers behalf.

 

[Masked]

Quote:

Originally Posted by Hephasteus;13087929
It's alright facebook will post homeland security junk and get billed massive amounts for it and taxpayers will pay for it. And JP morgan will continue trying to push arm on everybody even though they bought the processor for pennies on the dollar after using intel to destroy them.
And facebook will have to sign up every single person on the planet to justify thier current valuation which means every taxpayer on the planet will have to take the place of every willing person on the planet through force. So let's see what homeland security wants us afraid of. Because it sure isn't government agencies with the right to pay huge freaking stupid bills on the taxpayers behalf.

Gee, Brain, what do you want to do tonight?

The same thing we do every night, Pinky - try to take over the world like FACEBOOK!

 

[Xyxyll]

I think many of you are confused. The brothers were awarded shares in facebook, originally worth $65 million. These shares assuming they were not liquidated back then are now worth $100 million because facebook grew.

 

[surfbumb]

i watched the movie a week ago...they portrayed zuckerberg as pure ownage vs the twins.

 

[r34p3rex]

Quote:

Originally Posted by Xyxyll;13088038
I think many of you are confused. The brothers were awarded shares in facebook, originally worth $65 million. These shares assuming they were not liquidated back then are now worth $100 million because facebook grew.

So.. what's there to complain about? If they liquidated the shares, isn't that their problem? If they didn't, then their shares are worth $100 million and I fail to see what's wrong

 

[Xyxyll]

Quote:

Originally Posted by r34p3rex;13088142
So.. what's there to complain about? If they liquidated the shares, isn't that their problem? If they didn't, then their shares are worth $100 million and I fail to see what's wrong

I'm pretty sure they didn't/wouldn't liquidate anything. I think that now that facebook is a multi-billion dollar company, they simply want more of the pie, so they're trying to null on their prior agreement.

 

[Blue Destroyer]

Quote:

Originally Posted by r34p3rex;13088142
So.. what's there to complain about? If they liquidated the shares, isn't that their problem? If they didn't, then their shares are worth $100 million and I fail to see what's wrong

they were appealing trying to get awarded more then the $65mil they were first awarded.

 

[wh-ATI]

Seriously, who cares?

 

[guyladouche]

Quote:

Originally Posted by SkillzKillz;13087699
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.

Except they already conceded that their efforts were apparently worth $65m in company shares. Even if they believed that their efforts were worth, say, 2% of the value of the company, they already shot themselves in the foot. Besides, FB is now valued at $50B, and that's after hefty recent investing by Goldman Sachs. Not that they were worthless back in 2006/2008 when the twins were suing, but I think it was ONLY worth 10-15 billion back when they sued and settled.

Anyhoo, I couldn't care less about anybody that went to Harvard and is looking for easy ways to get more money. They're all a bunch of spoiled brats if you ask me--them and Zuckerberg.

 

[Benladesh]

Quote:

Originally Posted by Xyxyll;13088038
I think many of you are confused. The brothers were awarded shares in facebook, originally worth $65 million. These shares assuming they were not liquidated back then are now worth $100 million because facebook grew.

That's what I thought.

So they have $100 mill right now.