Patrick Byrne ends up in Dubai

[KFRCanuk]

10-15 years ago, there were lots of conversations about overstock and naked short selling on this board (including MSN on this).

 

I was wondering what happened to Patrick. I think he was also in Buffett's orbit too. I think Warren knew him and had convesations with him. I somewhat knew he tied his horse Trump and stop the steal. 

 

His wikipedia article seems to be up to date.

https://en.wikipedia.org/wiki/Patrick_M._Byrne

 

2019 seems to be when things went sideways.

 

Seems to be in Dubai now.

 

Anyway, I thought it was an interesting.

Edited Thursday at 04:33 PM by KFRCanuk

[aws]

Did Buffett have connections with him, or just with his father? His father was CEO of GEICO for a period, as well as other insurance companies. If so, hopefully they are long since severed.

 

Seems like an intelligent guy who's life got derailed by conspiracy theories and a Russian honey pot.

[Parsad]

4 minutes ago, aws said:

Did Buffett have connections with him, or just with his father? His father was CEO of GEICO for a period, as well as other insurance companies. If so, hopefully they are long since severed.

 

Seems like an intelligent guy who's life got derailed by conspiracy theories and a Russian honey pot.

 

Patrick and Warren knew each other very well over the years due to his father Jack.  I think Buffett lost contact many years ago.

 

Sad how Patrick went off the deep end in the last few years.  Overstock also lost its way by focusing on just housewares, which wiped out a third of their business by that decision.

 

Cheers!

[rkbabang]

I still follow him on X

 

[TwoCitiesCapital]

16 hours ago, aws said:

Seems like an intelligent guy who's life got derailed by conspiracy theories and a Russian honey pot.

 

I feel similar watching Elon Musk over the last 18 months...definitely seems to be taking after his father. 

 

I suppose you have to have some eccentricities and a willingness/ability to be different to achieve the level of success these guys have...but when that starts bleeding out of business success and into personal turmoil it really is sad. 

[Saluki]

31 minutes ago, TwoCitiesCapital said:

 

I feel similar watching Elon Musk over the last 18 months...definitely seems to be taking after his father. 

 

I suppose you have to have some eccentricities and a willingness/ability to be different to achieve the level of success these guys have...but when that starts bleeding out of business success and into personal turmoil it really is sad. 

 

I've heard Buffett say that in meetings his is careful not to telegraph his opinions because he doesn't want people tailoring their opinions to what they think his stand is.  He doesn't want yes men, which is hard to avoid when you are in a position of power like that.  To me it seems that Byrne (apparently he worked at a BRK subsidiary, Fechheimer), might have been normal when he had people reporting to him, but he also reported to others.  Once he was running his own show at Overstock, and being successful, there might have been no one to check his ego.  Ditto for Elon. 

 

In a powerful position surrounded by sycophants some people can still become Lincoln and others become Idi Amin. 

[Parsad]

Buffett & Munger's 3 traits:

 

1)  Intelligence

2) Drive

3) Integrity

 

If you have the first two, but don't have the 3rd one, it's a dangerous thing!  Cheers!

[coc]

Patrick Byrne has been half-batshit for about 20 years. Remember the Dark Sith Lord of naked short selling or whatever he used to go on about? How could any of this be a surprise?

[Parsad]

3 hours ago, coc said:

Patrick Byrne has been half-batshit for about 20 years. Remember the Dark Sith Lord of naked short selling or whatever he used to go on about? How could any of this be a surprise?

 

He wasn't wrong there...it's why the DJ went after Steve Cohen and SAC Capital.  Cheers!

[KFRCanuk]

On 11/1/2024 at 11:02 AM, TwoCitiesCapital said:

 

I feel similar watching Elon Musk over the last 18 months...definitely seems to be taking after his father. 

 

I suppose you have to have some eccentricities and a willingness/ability to be different to achieve the level of success these guys have...but when that starts bleeding out of business success and into personal turmoil it really is sad. 

 

I'm looking forward to dropping starlink in the next 12 months at our cabin. I don't think he understands the opportunities he has lost due to his hubris. Oh well.. I choose to no longer participate.