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Pretty tough to hose a trillionaire. If it’s true how stupid to over bill them. California Screaming! Raceless in California! | |||
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This does not change anything. Darryl Cuttrel was spending money he did not have like a Drunken sailor on leave. If he was being ripped off why did he continue to do business with Musk? Why was he writing hot checks thinking Musk is going to pay him some day? Realistically IHRA was never a good, safe investment and most people who are Rich would never dump that kind of money into it. They would only put into it what they could afford to lose like pocket money and walk away with out hurting them if it failed. They would put the minimum in it and try to grow it slowly and have it take care of itself. A wealthy person never keeps throwing money at a failure. They cut their losses and move on. From the very start of this deal nothing made sense. The way he did it even if Musk would have paid him the end result would still be same as right now because they were spending more money on something that would never generate enough return on investment. So you limit what you put in and grow it at a rate it can sustain itself. So what is gross revenue of IHRA every year? Maybe 10 million? Why would anyone spend 500 million on a 10 million dollar a year deal? Even if they could DOUBLE the gross revenue to 20 million a year how long would it take to recover 500 million dollar investment and with interest and everything else it was a losing proposition from the start. And if they were able to bring in 20 million a year that is not profit, there is overhead, salaries and more making it even longer to recover investment. I believe there was never any intent for IHRA to defraud anyone. I believe Darryl Cuttel had good intentions. Still you do not spend money you do not have or make promises you can not keep. I believe he had big dreams and bad business decisions. Those decisions may end up hurting all of us. Time will tell if or how well it will survive. https://postimg.cc/gallery/np3zpruo/ "Dunning-Kruger Effect" -a type of Cognitive bias where people with little expertise or ability assume they have superior expertise or ability. This overestimation occurs as a result of the fact that they do not have enough knowledge to know they don't have enough knowledge. Before you argue with someone ask yourself, "Is this person mentally mature enough to grasp the concept of a different perspective?" If not there is no point to argue. 4X NE2 CHAMPION. 2020 TDRA NE2 Champion | |||
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| DRR Trophy |
First it would be nice to know just how much Darryl Cuttel spent to purchase just the IHRA. Second how much did he spent to buy drag strips which were separate purchases / company's. Third how much did he spent purchasing other racing organizations. Forth and maybe must important. Is how close does the total of these purchases come to the often quoted 500 million dollars spent? Stan | |||
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