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Valve veteran slams Tim Sweeney and Epic Games for laying off 1000 people while making 'as much money as possible… and hey Tim, Gabe's better at that than you' (www.pcgamer.com)
submitted 7 months ago by to c/pcgaming@lemmy.ca
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[–] 3 points 7 months ago* (5 children)

Newell funds marine research, and some of the yachts that he had commissioned are research vessels.

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  • [–] -3 points 7 months ago (4 children)

    Does he fund it to the point of no longer being a billionaire? No? Then my point stands.

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  • [–] -1 points 7 months ago* (last edited 7 months ago) (2 children)

    Tell me you don't understand net worth without telling me you don't understand net worth. Do you think being a billionaire means holding a 10,000,000 $100 bills under your mattress?

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  • [–] 0 points 7 months ago (1 child)

    Net worth can, and is, used as collateral for taking out large loans with little to no interest. So I would say net worth is a pretty good equivalent of cash under the mattress. It just takes one step to access that cash.

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  • [–] 1 point 7 months ago

    Loans have to be repaid and I'm not talking about liquidity. If you have a billion $ in cash and use it to fund a billion $ research vessel, you have a billion $ research vessel. You're still a billionaire. Gaben owns large portion of Valve, a multi billion $ company. The only way for him to no longer be a billionaire is to either

    • Sell his stake in Valve and burn, give away or otherwise loose all the money.
    • Devalue Valve to the point that it's no longer worth billions of $.
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