Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: Vivek: If your SSN ends in an odd, you're out. [View all]Sorry to butt in.
But I do actually think Musk and Ramaswamy are stupid and overrated. I dont consider getting ahead this sleazily a sign of smarts. It is a sign of the same type of icky talent at manipulation Trump has.
That may be his wiki. Here is other stuff about him:
https://www.forbes.com/sites/willskipworth/2023/08/18/vivek-ramaswamy-sued-by-former-employees-claiming-his-company-pressured-them-into-violating-securities-laws/
Republican presidential candidate and businessman Vivek Ramaswamy is facing two lawsuits from former employees who say that when they worked at the company he cofounded, Strive Asset Management, they were aggressively pressured into violating securities laws, according to Bloomberg, which first reported these lawsuits Friday morning.
CRUCIAL QUOTE
Christopher Lenzo, Roselys attorney, argued that Ramaswamy wasnt a serious asset manager. He told Bloomberg that the firm was founded, in retrospect, largely as a PR mechanism for the presidential campaign of Ramaswamy, and not a lot of thought was given to running it as an investment firm.
KEY BACKGROUND
Ramaswamy announced his candidacy for president in the Republican primary in February, citing his business acumen and accomplishments as reasons he should be the next president. Before his campaign, he founded the drug development company, Roivant, in 2014 and served as CEO until he stepped down in 2021. After that, he founded Strive Asset Management alongside Frerick with the express goal of creating an anti-ESG asset management firm, a public rebuke of the trend in Wall Street circles towards investing in companies that are more environmentally and socially responsible.
CRUCIAL QUOTE
Christopher Lenzo, Roselys attorney, argued that Ramaswamy wasnt a serious asset manager. He told Bloomberg that the firm was founded, in retrospect, largely as a PR mechanism for the presidential campaign of Ramaswamy, and not a lot of thought was given to running it as an investment firm.
KEY BACKGROUND
Ramaswamy announced his candidacy for president in the Republican primary in February, citing his business acumen and accomplishments as reasons he should be the next president. Before his campaign, he founded the drug development company, Roivant, in 2014 and served as CEO until he stepped down in 2021. After that, he founded Strive Asset Management alongside Frerick with the express goal of creating an anti-ESG asset management firm, a public rebuke of the trend in Wall Street circles towards investing in companies that are more environmentally and socially responsible.
https://www.newsweek.com/vivek-ramaswamy-fraud-always-has-been-opinion-1823853
In 2015, there was another sordid affair involving Ramaswamy, over Axovant Sciences Alzheimer's drug. In June 2015, Ramaswamy appeared on CNBC to praise the Axovant IPO, which soared to over $30 a share based on expectations surrounding its Alzheimer's drug, Intepirdine. The drug was touted as a "breakthrough," yet upon closer examination, this development fell apart.
Axovant had acquired the drug for $5 million in December 2014, six months before the IPO, after the majority of Phase 2 trials had "failed to meet their primary endpoints" in 2010. Ramaswamy devised a solution: His mother, Dr. Geetha Ramaswamy, conducted a new Phase 2 trial in 2015 involving "684 subjects." This trial conveniently claimed to demonstrate sufficient improvement to "support Phase 3" trials.
The aftermath was a triumphant $350 million IPO in 2015, followed by a drastic fall. By September 2017, the stock had plummeted 75 percent after Ramaswamy and his mother announced the Phase 3 trial's failure. Subsequent trials continued to disappoint, culminating in a 99 percent loss in value and a name change for the company.
While investors suffered significant losses, Ramaswamy profited from a higher media profile, IPO payouts, and the sale of remaining Axovant assets in 2020.
Ramaswamy's latest scam appears to be his run for president.
Axovant had acquired the drug for $5 million in December 2014, six months before the IPO, after the majority of Phase 2 trials had "failed to meet their primary endpoints" in 2010. Ramaswamy devised a solution: His mother, Dr. Geetha Ramaswamy, conducted a new Phase 2 trial in 2015 involving "684 subjects." This trial conveniently claimed to demonstrate sufficient improvement to "support Phase 3" trials.
The aftermath was a triumphant $350 million IPO in 2015, followed by a drastic fall. By September 2017, the stock had plummeted 75 percent after Ramaswamy and his mother announced the Phase 3 trial's failure. Subsequent trials continued to disappoint, culminating in a 99 percent loss in value and a name change for the company.
While investors suffered significant losses, Ramaswamy profited from a higher media profile, IPO payouts, and the sale of remaining Axovant assets in 2020.
Ramaswamy's latest scam appears to be his run for president.
A pump and dump scheme is not a sign of capability or intelligence. If conmen are considered smart then he is smart I suppose.
Edit history
Please sign in to view edit histories.
89 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Oh, what a relief! Nothing bad will happen! He's only gutting the federal governemnt!!
hatrack
Nov 16
#41
I'm sorry, but the bigger issue is that the idiot apparently thinks the Federal Government can operate with
Wiz Imp
Sunday
#83
That does, however, prove he is an idiot, who knows nothing about government or real life
muriel_volestrangler
Nov 16
#39
It's pukeworthy that inevitably Smarmy and Eloon believe that they are undoubtedly...
Hugin
Nov 16
#43
*Shrug* As a retired Federal Government (USPS, USMC) employee I'm not eligible for SS.
Ping Tung
Nov 16
#66
Yeah. I don't really understand why he thinks there would be no lawsuits.
travelingthrulife
Nov 16
#44
Oooh! I'll play: "If your name has two Vs in it, we tie a millstone around your neck and toss you into the ocean!"
struggle4progress
Nov 16
#25
If your name has two Vs in it, we put you in a rickety old cart and drag you over to madam guillotine ......
Trueblue1968
Nov 16
#27
I didn't see you had already posted this and I just posted it. But it is a good post
riversedge
Nov 16
#33
That's not 75%. Half will go with ending in odd and take some portion of those starting with even will also be culled.
33taw
Nov 16
#51