krishna bound

9mo

this is a bit of a misunderstanding of rich people's money works. actual generational rich people have so much money that functionally they are incentivized to keep spending it because the amount they have is near impossible to actually lose in terms of gains vs losses. if you have 1 billion, think about even the interest you're making on that; all of this is subject to taxes (among other things) which then affect your wider financial structure. rich people become businesses in and of themselves which is why they typically have teams and "family offices" to manage portions of their money as if they were their own funds or equity firms.

Peter Thiel himself is not really managing the vast majority of his own investments, he has like a ton of financial firms that operate under him. Very rarely does he step out to do something personal/direct with his own money (i.e. funding lawsuit against Gawker). There is a misguided belief Thiel personally sets the stage for every single thing his money goes to, the same way a lot of right wingers think Soros personally funds everything liberal.

Basically, Thiel has a ton of money. He chooses broadly and abstractly the direction of his funds and who manages it by establishing capital firms & offices. Those firms & offices then deploy money to other subsidiaries, funds, and sometimes companies. Then those subsidiaries, funds, and companies end up with individuals or companies. This becomes a binary tree of funding rather than a straight correlation of Thiel -> (result). Thiel is like "i want to fund conservative stuff and support trump" and then he hires someone conservative to manage a pool of maybe $10M and gives them an objective of either "make money" or "give grants no bigger than $x". That money is then deployed to other organizations which the guy/people in charge of said pool vet and feel is worthwhile given their mission statement. Then those people do the same thing, and this continues to happen until someone actually gets the money to "burn".

RASIE

8mo

"an unrepentant nazi"

Lmao sure