Thursday, February 20, 2014

Hedge money

Jan Koum came to the US from Russia at the age of 16. He came with his mother and his father was to follow but he never made it. She took up baby-sitting and he swept the floor of a grocery store to help make ends meet. His mother supported him until she died of cancer and he was on his own getting food stamps and other government aid to survive. Koum was a troublemaker at school but by 18 had also taught himself computer networking by purchasing manuals from a used book store and returning them when he was done. He enrolled in college but didn’t like that and then met an older friend who worked at Yahoo and he started working there. Some nine years later he got the idea for “Whatsapp” and with the help of his friend and a venture capitalist he launched his idea. This week he sold “Whatsapp” to Facebook for 19 billion. His share is 6.8 billion. The money to get this accomplished came from one of those evil hedge fund managers. Also in the news today another hedge fund donated 150 million to Harvard University for scholarships for undergrads. I assume they will accept this tainted money which was probably earned by ripping off poor people.

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