Post by mpbears68 on Jan 29, 2021 18:48:34 GMT -6
I get it and completely agree but can you imagine Pace choosing to drink from that bitter cup?
A guy you knew in college asks you to go into business with him 50-50 on this idea he's got. You dismiss him outright, thinking you know better and your idea is the right one. He goes on to quickly become a big success and a gazillionaire while you flop badly and rapidly end up broke.
A few years later your paths cross again and, knowing you're desperate, he tells you about a job opening as a bar back at his ritzy country club. Beats sleeping in a cardboard box but you get to every day have your giant screwup thrown in your face watching your ex-friend playing golf and having a great time with his club buddies while you serve him drinks and bus his tables.
That's pretty much what Pace is looking at -- remember, he didn't even bother interviewing or meeting with Watson in 2017. His assessment was THAT wrong. It's not like he did his due diligence and just made a bad judgement. He just ASSUMED HE WAS RIGHT and that was it.
I think this is a better analogy: Crypto currency investments started becoming big and your friend invested. You didn't because you saw no intrinsic value in it and didn't even bother to look more into it. A couple years goes by and the investment starts to explode and your friend has made a good amount of money so far, but nothing crazy. For you to get in now, it would be MUCH more costly than it originally was...but you do anyway because you see YEARS of growth ahead for the sector. Now you're both at the club playing golf. Your friend has a little more money than you do...but life is still good for you.
Thats how I see it. Yes, the cost to get him has gone up substantially from when we could have drafted him...but he'd still give us a decade of solid returns as long as he stays healthy. We're still playing golf at the club.
I dunno...