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He invested $800M in Yahoo! In 2008 and lost it all, among a whole series of other fuck ups. I think he’s an illustration of the rule that if you’re rich enough you don’t have to be very good at anything
Yeah. "Genius investors" are just people who have insider information and know how to cover their tracks (or don't need to).
Otherwise? Diversify and just ride the general economy. Barring insider information, it wins every single time.
Maybe thiel has insider info. Maybe not. Pretty much everyone assumes this is a bubble that will pop. I am a lot more skeptical (how many "bubbles" have we had that mostly just petered out or readjusted to reasonable levels?). But there is also an argument to get out while it is "high enough" and leave others to hold the bag if/when it does pop.
I think for most people that means some weeks you buy food, some weeks you pay rent.
Yeah, but also if your rich enough, you accidentally decide crashes. Him selling almost surely caused others to sell, and many to become skeptical.
and then later ORACLE bought yahoo, and shut down yahooanswers, cant forgive them for that.