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Posts Tagged ‘gay billionaire’

What was the role of NZ government in Xero’s rapid growth?

Posted by te2ataria on February 4, 2017

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Peter Theil screwed NZ taxpayers without even kissing them, thanks to incompetent/corrupt government!

Peter Thiel, the gay German/American billionaire, pocketed tens of millions of dollars from a joint venture funded by New Zealand taxpayers, while his publicly funded investment partner almost suffered a loss, said a report.

“The partnering of Thiel’s Valar Ventures and the Government-owned New Zealand Venture Investment Fund (NZVIF) was launched by minister Steven Joyce in March 2012,” said a report.

Joyce said at the time the venture was “part of the Government’s comprehensive business growth agenda”, but a Herald investigation has discovered the arrangement was quietly ended in October when Thiel activated a generous buyback option allowing him and his private partners to claim all profits from the venture by cheaply buying out his public co-investor.

A Wall St analyst told the Weekend Herald the clause left the Government facing a “horrendous risk-return proposition” that had no place in agreements between commercial parties.

Thiel netted at least $30 million after investing  just $6.8m, while NZVIF received just $10.2m after having earlier invested $9m.

“If a professional investor signed this deal, they would be the butt of their colleagues’ jokes all the way out the door,” the analyst told Herald.

Despite claims at the time of launch that Valar Ventures would invest $40m in local technology companies, it ended up committing only $18m — the bulk of which went towards accumulating shares in the NZX-listed cloud accountancy software company Xero.

Xero share price soared from $3 to as high as $45 in a short period of time, making the Xero-dominated Valar Ventures extremely valuable. “By mid-2016 its stash of Xero shares was worth $43m, representing the vast bulk of the fund’s value.”

What’s missing from the Herald report is the role of NZ government in helping to make Xero so valuable! Did they award the accounting software company large government contracts?

More…

Other News in Drips…

Three bodies found in separate missing cases

Body found in Sandfly Bay, Dunedin
While the formal identification process is yet to identify the body, it is thought to be connected to the search for the missing diver from yesterday afternoon.
http://www.police.govt.nz/news/release/update-body-found-sandfly-bay-dunedin

Body found at Karaka Bay, Wellington
Police have recovered a body that was found at Karaka Bay this morning, Saturday 4 February 2017.
http://www.police.govt.nz/news/release/body-found-karaka-bay-wellington

Missing man’s body recovered in Westland
Police have found the body of a tramper who was reported missing on Friday. He was overdue from a day-long tramp in the Jackson Bay area of South Westland.
http://www.stuff.co.nz/national/89102215/Missing-mans-body-recovered-in-Westland

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Another day of censorship, secrecy and post truth in the Zombie Democracy

Posted by te2ataria on January 25, 2017

Road Fatalities: News Blackout in Effect!

Mystery surrounds death of 4-year-old Dunedin boy

A truck carrying bobby calves and three young boys went off the road and overturned into a paddock, killing the youngest of the four occupants, a 4-year-old Dunedin boy on January 13.

“The driver, understood to be a Dunedin-based dairy farmer and neighbour of the boys’ family, suffered serious injuries and was taken to Southland Hospital alongside a pair of 6-year-old brothers, who had minor injuries,” said a report.

“I have no idea what his route was, where he was going, or what he was doing at that time of night [and why he was travelling with the neighbour’s three young boys,]” said the policeman dealing with the case.

The boy’s name has not been released, “with a police spokeswoman confirming the family had approached the coroner to get their son’s name permanently suppressed.”

Gay billionaire and Trump supporter another XERO connection

A 193-hectare Wanaka lifestyle block has been purchased by the gay billionaire Peter Thiel, who has apparently become a New Zealand citizen.

German-born Thiel bought $147 million of shares in NZX-listed technology company XERO in 2013, said a report.

“Thiel, a conservative libertarian, supported Donald Trump’s bid for the US presidency and donated $1.25m to Trump’s campaign. After Trump’s victory, Thiel was appointed to his transition team.”

Other News in Drips…

Englishman killed on State Highway 27 near Matamata
The man who was struck by a vehicle and killed on State Highway 27 near Matamata, early on Saturday morning has been named 24-year-old Michael William Spink, from North Yorkshire, England, police said.

He was reportedly on his way home after his own vehicle had ended up in a ditch.

Fatal Norsewood crash
The two people killed in a crash on State Highway 2, about 5km north of Norsewood on Sunday were father and son, Aaron Bruce McDonald (37) and Cruz McDonald (8), police said.
http://www.police.govt.nz/news/release/name-release-%E2%80%93-norsewood-crash-correction

Name release – Waiwhakaiho drowning
The man who drowned in the Waiwhakaiho River, New Plymouth, on Monday was 17-year-old Jaden Peterson, police said.
http://www.police.govt.nz/news/release/name-release-%E2%80%93-waiwhakaiho-drowning

UPDATE: The Otaki River search –
The Otaki River search on the Kapiti Coast has been suspended for the night. A man’s body was found on Monday 23 January 2017. It is believed a second person remains in the water. http://www.police.govt.nz/news/release/update-otaki-search-suspended-night

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