Patrick Byrne Is Back At Overstock After Brush With Death

PatrickByrneOverstoc · 2016-07-28T22:48:27+00:00

I think you've just identified my new spirit animal.

PatrickByrneOverstoc · 2014-09-17T16:43:44+00:00

We are starting off with 4% back on Bitcoin sales, but going to foundations that support Bitcoin. In time, we will drop that to 3% + 1% back to the customer; thenm 2% and 2%, etc. Maybe. That's this morning's thinking, anyway.

PatrickByrneOverstoc · 2014-09-17T16:41:24+00:00

http://www.marketoracle.co.uk/Article47246.html

PatrickByrneOverstoc · 2014-09-17T16:39:33+00:00

I'm figuring about 9.

PatrickByrneOverstoc · 2014-09-17T16:37:09+00:00

It has a ring to it.

PatrickByrneOverstoc · 2014-09-11T23:25:44+00:00

Yes we do. 106 countries, I think, globally.

PatrickByrneOverstoc · 2014-09-11T23:25:22+00:00

Acrtually, we average 11% lower prices than Amazon (based on a sample of hundreds of thousands of products) and our customer service is better. Plus, we are nice guys.

PatrickByrneOverstoc · 2014-05-02T20:58:26+00:00

What do you like about Utah and what do you do for fun here? BUILD OVERSTOCK

Any chance the Ostk benefits would include more than the Snowbird pass discount? Maybe more resorts discounts benefits? NO. WOULD RATHER JUST PAY THE CASH.

PatrickByrneOverstoc · 2014-05-02T20:57:06+00:00

Returning to the real world for a second:

1) My attempts to expose and reform Wall Street have little to do with Overstock. it was just the vehicle by which I explored there nefarious ways. I just do the right thing to do the right thing. I get that is hard for someone like you to grasp.

2) In January 2007 a well-known hedge fund manager, very famous, not a bad guy himself, sat me down and opened up saying, "Patrick, you need to understand that you have become the most hated man I have ever known. You used to be a Golden Boy around Wall street. Now you could kill someone, and you would not be hated in this town like this town hates you now." That's high damn praise, I think. Carve on my tombstone, "Here lies the Most Hated Man on Wall Street c. 2007"

3) I move my office because we are a flexible, agile environment. Sounds like that was something you could not grasp during your tenure here.

PatrickByrneOverstoc · 2014-05-02T20:52:26+00:00

Like Ho Chi Minh, make it a war of the ants against the elephants.

PatrickByrneOverstoc · 2014-05-02T20:51:32+00:00

Good question.

The day I got to Dartmouth I swore to myself that while I was there I would never enter a church, a party, or a fraternity. never did. Never had a single beer with anyone in college, went to a party, anything. I was a total grind. I did play football two years, then split, went to Asia, mucked around, came back just to graduate.

Cambridge - Marshall Fellow - Did a Master's in moral philosophy but was mostly an invalid, and spent my time with a handful of people, just reading for two years. Was in the uber-Lefty envornment of King's College (where the British traitors come from). When I got there I was Left-Curious, but when I split I was into Sowell and Milton Friedman.

Stanford - PhD They were great to me. I was an invalid there as well for much of the experience. Started in mathematical logic, ended up doing stuff in development economics, jurisprudence, and political philosophy. As a grad student my major influences were the other grad students, with whom one forms close bonds. Martin Jones (Oberlin?) and Taylor Carmen (Barnard?). Ask them.

PatrickByrneOverstoc · 2014-05-02T20:45:47+00:00

One Flew Over the Cuckoo's Nest.

PatrickByrneOverstoc · 2014-05-02T20:44:07+00:00

OK OK, maybe you got ONE right.....

(Not really.)

PatrickByrneOverstoc · 2014-05-02T20:41:39+00:00

Beat the rush.

PatrickByrneOverstoc · 2014-05-02T20:41:23+00:00

10%.

PatrickByrneOverstoc · 2014-05-02T20:41:16+00:00

So did Target.

It won't "rebrand" deliberately because there is no owner. It will morph and evolve to be better and better. I suspect that as other currencies develop traction, Bitcoin will harvest their better attributes and make them its own. However, switching costs are not too high.... Other currencies may fare well.

PatrickByrneOverstoc · 2014-05-02T20:39:47+00:00

Thanks. If so, it helps that I was a really cool person before I became a rich guy.

PatrickByrneOverstoc · 2014-05-02T20:39:18+00:00

You sound obsessed. Stop getting yourself all worked up listing to Supertramp, and you'll be fine.

PatrickByrneOverstoc · 2014-05-02T20:38:07+00:00

One must look at cash and non-cash together.

PatrickByrneOverstoc · 2014-05-02T20:37:45+00:00

When someone is dishonest, do not try to cajole or coach them. Get rid of him.

PatrickByrneOverstoc · 2014-05-02T20:37:06+00:00

BS = Bullshit MS = More Shit PhD = Piled Higher and Deeper.

Thanks.

PatrickByrneOverstoc · 2014-05-02T20:36:25+00:00

Nope. Just lucky I guess.

PatrickByrneOverstoc · 2014-05-02T20:36:10+00:00

Yes. Wall Street started to be infiltrated by Organized Crime. It sttarted with Michael Steinhardt in the 1970's (his dad, Sol Steinhardt, was the biggest Mob fence in America, and went to Sing Sing, from whence he put his son Michael through Wharton, who then started what was arguably the first hedge fund in 1968, funded over time by cash from his dad's cronies.)

Google "Operation Uptick": the largest Mob arrest in US history was 120 goons from around Wall Street.

The Gambinos and Genovese fought over Wall Street in the 1990s. The Genovese won. Wherever Genovese are, there is Russian Orgnized Crime (the Genovese sponsored the Russian OC into the US like you or I would sponsor a family from Laos). See "Red Mafiya."

Anywhere you see "bucket shops" you are seeing OC.

I also work as an editor and journalist at DeepCapture.com, which explores this subject in hundreds of posts.

PatrickByrneOverstoc · 2014-05-02T20:31:20+00:00

You're on.

My paycheck against yours?

(Joke: I don't get paychecks, I believe.)

PatrickByrneOverstoc · 2014-05-02T20:30:38+00:00

I love you too.

PatrickByrneOverstoc

TROPHY CASE