The ‘Blank Cheque’ Company
Imagine this conversation between an entrepreneur and an investor.
Entrepreneur : Hi, can you invest in my company?
Investor: What does your company do?
Entrepreneur : Errr… I don’t know yet.
Investor: Oh ok. No problem. Here’s $150 million.
That’s exactly what happend when three ex-Apple executives took their new company to IPO yesterday. The public investors pumped in $150 million even after reading the company’s official filing statement saying that the founders still don’t know what they will do with the new company.
Overnight, the three founders became richer by $30 million. Now, isn’t that an easy way to make money?!
Read more about it.