Category Archives: Unstoppable Trends
Last November I called Snap Inc. (NYSE:SNAP) the “single most dangerous” IPO I’d ever seen and urged you to give the company a wide berth… or take your money to Las Vegas where at least you’d have fun losing it.
Legions of Silicon Valley faithful weren’t happy I said so, and neither were scores of Wall Street analysts doing their best to convince you that Snapchat was a ticket to easy riches.
Fast forward to today.
News broke over the weekend that the Saudi Kingdom had detained 11 princes, 4 ministers, and 34 other senior officials, former ministers, and prominent business owners as part of an anti-corruption campaign. All are apparently being held at Riyadh’s Ritz Carlton Hotel and sleeping on thin mattresses placed on the floor in a ballroom – including billionaire investor Prince Al-Waleed bin Talal, who is well known in the west for investments in such companies as Citigroup Inc. (NYSE:C), Twitter Inc. (NYSE:TWTR), and Apple Inc. (NasdaqGS:AAPL).
The Western media has reported this move as part political shakeup, part coup prevention, and part power play by a young, ambitious Crown Prince Mohammed Bin Salman.
As usual, they’re missing the real story.
It’s ALL about the money.