> A 9-figure acquisition sounds like a lot, but consider that this is less than 0.05% of JP Morgan's market cap.
It's far less about the percentage of JPMC's market cap, and more about the fact that a competent due diligence effort would cost less than $250k, which is insignificant against the cost of the acquisition.
Sounds very clearly that JPMC was defrauded, and at the same time did a very poor job of due diligence in a 9 figure acquisition.
How did a financial audit not uncover the dramatic mismatch in actual vs. purported activity? How does a transaction value of $41 per user (x 4.25M users) not translate to an auditable revenue stream?
The Marvelous Mrs. Maisel explores the the development of a "set" in the first season. It isn't a big part, but in the context of the overall story it is well done.
I will believe this is a genuine and earnest attempt to connect with people, because what other options do you think he really has?
It's all too easy to find some way to criticize his actions:
Meet with Kids? - FB shouldn't and doesn't target kids for privacy reasons.
He's the CEO of the most massive and influential social media company, he'd better do more than just sit behind a computer, but he also can't spend all his time socializing either.
Like any strategy it is not infallible. It is a tool to be used in the right situations. If you have a contrary view of volatility (how much a security will move in a given time, up or down) then this can be helpful. Remember this strategy can be reversed as well, so whether you believe it will not move much, or definitely move a lot, you can engineer it to work for you.
But if you EVER hear anyone say a financial strategy is no risk, they are incorrect at best, and actively lying at worst.
It's far less about the percentage of JPMC's market cap, and more about the fact that a competent due diligence effort would cost less than $250k, which is insignificant against the cost of the acquisition.