Biggest financial mistake

lsa said:
LOL..
First of I spent 13 years in the gaming industry. Management /research positions.
I was one of the first people outside Rovio to see Angry Birds.
I know the people that made Candy Crush Saga a success.
My former colleague started what became one of the top game developer schools in Northern Europe.
I know investors that focus on games.
I could go on.... But you should get the picture..

And I know a lot of guys and girls that founded game companies.
NOBODY in their right mind would give up 50% for 10K...

Secondly Mojang had 3 founders.... All had full time job at the time.
They also released Mindcraft as an alpha and made money from that.
Investors came to them wanting to invest millions. They got turned down.

And btw I have contacts that know Markus.
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<escalate99>

Either TS is lying, or this could actually be a story where he was lucky to avoid being scammed out of 10K by a Minecraft imposter.
 
Perhaps I'm not enough of a financial risk taker to view potential, missed opportunities as "financial mistakes". In my mind, "financial mistakes" usually involve incurring absurd, avoidable debt.

Maybe I'm just boring.
 
TSO said:
Looking back on your life, what is the biggest financial blunder you've ever made?

Here's mine: I was invited to a party where a bunch of guys were pitching their ideas for products and services looking for financial backing. I had been invited by a guy who had millions to invest while I had like 45k do was by far the little fish. One by one products were pitched and if anyone liked it they made deals, I didn't see a single product I could afford to meet the demands of, or outbidthe other investees except one.

He only wanted 10k to get in as a 50% owner. He even approached me alone after the event had wound down and almost begged me to invest.

What was the product I could have had half of simply for backing it with $10,000?

MINECRAFT

I bought a new sport bike the next day and gloated how smart I was to have not being dumb enough to invest in a game that wouldn't ever make money.

So what are yours sherbros
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Damn son.
100% literally none of this happened.
You reached way too far.
 
Never really made a major one, as I'm a low risk guy.
Literally the only one I kind of made, was lending a friend a grand.
Never saw the money again, and it taught me a lesson about money & friends.
Never mix the two. It will kill your friendship.

Friend was a compulsive gambler who never could save money.
 
Quite possibly college.
Should at least have done ROTC.
 
I bought a 40 dollar magnet for no reason while I was drinking
 
Giving a girl money. Thousands of dollars over a few years to put into her business. She was running a small training centre.
She was honest. We knew each other for a very long time and I didn't put anything into writing.

She suicided.

Money lost.
 
F1980 said:
Bitcoin. They were giving 10,000 Bitcoins to every person who wanted them at the beginning. If you wanted more than 10,000, they would have given you more. That's $93 million in today's dollars.
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Bitcoins are worth that much now? lol

I should go check how many I have. I got into that at the start then forgot about it. I doubt I have more than a few dozen, but how much are each worth?
 
I don’t have a story like OP, but I regret not investing something in Amazon. It wouldn’t have been a lot at that time, but would’ve at least been something. But I was in late teens/early twenties, and was an idiot. I remember when they were just a bookseller, and I thought: “What a stupid business model. As the internet grows, printed books will be obsolete. Then what will these dumbfucks do??”

DERP.
 
BFoe said:
I don’t have a story like OP, but I regret not investing something in Amazon. It wouldn’t have been a lot at that time, but would’ve at least been something. But I was in late teens/early twenties, and was an idiot. I remember when they were just a bookseller, and I thought: “What a stupid business model. As the internet grows, printed books will be obsolete. Then what will these dumbfucks do??”

DERP.
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To be honest, one could say this about a thousand other stocks & investments.
It's no different than gambling. Who knows, maybe Amazon would have never developed the way it did?
It's impossible to know or control these things.
 
Halifax said:
Bitcoins are worth that much now? lol

I should go check how many I have. I got into that at the start then forgot about it. I doubt I have more than a few dozen, but how much are each worth?
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<{fry}>

If you aren't trolling, I would be very careful about who you tell about this and find a way to cash in. Or, just send 'em to me. I'll pay tree fiddy p/coin
 
Sarge3000 said:
To be honest, one could say this about a thousand other stocks & investments.
It's no different than gambling. Who knows, maybe Amazon would have never developed the way it did?
It's impossible to know or control these things.
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Definitely true. I wish I’d had a bit more foresight though with internet-related things. But for the average person in the mid-90s, predicting some of the things that ppl would use the internet for was difficult. MP3 wasn’t even a thing, so an idea like streaming movies and music was totally inconceivable to me.
 
Not buying a house in my city when they were cheap as fuck. Now prizes are insane and I knew it would happen but was too young to take a benefit out of it
 
I paid for platus once.

I know.
 
BFoe said:
Definitely true. I wish I’d had a bit more foresight though with internet-related things. But for the average person in the mid-90s, predicting some of the things that ppl would use the internet for was difficult. MP3 wasn’t even a thing, so an idea like streaming movies and music was totally inconceivable to me.
Click to expand...

Foresight is difficult I think.
Lots of the things that "analysts" say is going to be the next big thing, often turns out to be false.
I could write an entire page for things that turned out to be wrong. But these are usually quickly forgotten by the masses, overshadowed by "what worked and became the next big thing".

For example, Facebook/Twitter/etc...And who knows, in 5-10 years these companies might not exist.
I think it was also Yahoo that was a huge thing, and then Google screwed everyone and Yahoo declined strongly.

The phone & computer market is also interesting and a good example...They said Tablets or Laptop/Tablet hybrids would be next big thing...That flopped. Or the mythical folding phones that turned out to be a fail. You absolutely never know to be honest.

I think true foresight involves listening to the very smart people, and also involves taking a sizeable amount of risk.
Which for most people isn't easy to do.

For example everyone talks about automation, AI, etc. How and when is that going to materialise? These are interesting questions.
 
Haven't made many.. but once I gave some money to an idiot friend for a business that went bankrupt.
 
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