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Old 10-09-2007, 03:10 PM
beset beset is offline
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Join Date: Nov 2004
Location: anarchocapistan
Posts: 3,977
Default Re: Mod Loses Prop Bet, Won\'t Respond To Me

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even if he did grim the guy on the website money, whats the big deal? the guy only loses 7 days of his time and some increased annoyance. i dont think its a big deal is that weird?

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Honestly I can count about 12 much more annoying situations I've encountered in the last few business deals I was involved in and there is absolutely zero bad blood, we will work together again, and the suggestion of attacking the person's reputation in public would make me question the IQ/sanity of person advocating such an approach.

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Ummmmm.... Someone negotiating a deal to buy your business and then failing to pay is kinda a big deal...

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If you would do business with someone like that again then I severely doubt your ability to judge people.

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I do business to make money. Dealing with ego-centric, busy and somewhat inconsiderate people can be very +EV. I am not saying that Kyle fits this description. The point is that slight delay in payment or one minor deal falling through to my acute displeasure but which otherwise leaves future equity stemming from the relationship availible will be dealt with privately and with tact. The most I can say is that in the future I would employ more protections such as option contracts, escrow, negotiation fees, etc. This is just business people. You expose yourself to small losses inflicted by even the most well-intentioned potential partners if you don't use a little common sense. Some of the most profitable relationships I've had are with people who I employ very restrictive legal/negotiation tools to limit the potential for frustrations and spillage in the event of failure-to-launch.

Clearly I believe prop bets should be paid on time. I just take major exception to the process utilized here. I should also not that any big prop bets I've down have included payment penalties. Same thing with stake make-up or other such things. Also, people really need to explore some very simple concepts involving commercial paper, escrow and secured transactions. Everytime I read of some poker player getting burned for six figures or having to settle for some lame prop bet settlement I wish I had the time and desire to start a practice centered on the poker circuit for facilitating stakes, prop bets and loans.