251
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 17 Mar 2026
251 points (100.0% liked)
Technology
84891 readers
1059 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
This is the kind of successful entrepreneur we're supposed to be looking up to, people.
Exactly, the fact this dude at Krafton can sign 250 million dollars deals but is also dumb enough to think a ChatGPT lawyer knows better than his own lawyers... It goes to show that many powerful people were just lucky or inherited their wealth but are definitely not successful because they are smart.
Thomas Piketty agrees with you in Capital
I mean, "smart" is a relative term. They were smart enough to find the money hose and latch onto it. But the skills necessary to schmooze $250M out of a creditor are fundamentally different than the skills necessary to manage a workforce or meet the terms of the contract.
You can call it the Peter Principle or the Principle-Agent Problem or any number of other business short-hands for "skills mismatch". The bottom line is that "meritocracy" in a capitalist system boils down to rent-seeking effectiveness. That's the skill set that is rewarded. And it produces legions of people who train and compete for the opportunity to maximize rent-seeking returns.
This guy fumbled the ball in a spectacular fashion. But I have no doubt he'll get back on his horse and find another pool of labor to extract wealth from. Because, if he's a CEO, he's honed the skills needed to do exactly that.
What we get to mock him for is his failure, not his decision. If he'd retrieved a useful answer from the ChatGPT answer lottery, or the courts had been stacked with his friends such that any answer he pulled was considered the right one, he'd be hailed as a business genius on the front page of the WSJ rather than scoffed at in the back pages of 404media.
You have no idea how ceos work do you....
Share your insights! Or be quiet, contributing "nah" is just lazy.
what's the point, why bother?
Capitalist Mysticism at its finest.
Luck is a factor, but the differentiator is that they have the. Isplaced confidence and drive to just do what they want first. Then the luck let's them get away with it. It's kind of like if you get a million people to flip a coin 50 times. Some of them will get all 50 to be heads. So with billions of people in the world. Some have this drive to be on top, misplaced confidence, luck, and situational oportunities (also a good part luck) to end up able to sign 250 million dollar contract. None of that actually requires they have a clue. Sometimes they do, but it isn't required.
And no one remembers the failures, except maybe their family with that wacky Uncle that had some crazy get rich quick scheme. In some other timeline, some kids think of their crazy uncle Mark Zuckerberg who dropped out of college because he thought he could do better than MySpace, and now he bounces around chasing various hustles that keep failing.
Flipping a coin 50 times has 1.1 quadrillion possible outcomes, only 2 of which are all heads or all tails. I think you'd need more than a few billion to reliably see those results.
I think though, you get the point.
Now here is a bonus question for you. If I give you a coin and ask you to flip it 20 times, and they all come up heads. What are the odds that if you flip it again it will come up heads?
I think it’s higher than a 50% chance of heads, because you have evidence for it being an unfair coin.
Nice that is in fact what I was going to say. I get a lot of people with that joke.