[stanley]

I'm not sure I can agree with you. The man was not born wealthy, he achieved his wealth through hard work and persistence. He invested in small companies that may or may not have succeeded - he took risks and to his luck (and apt judgment), some of those risks paid off.

Does he get value out of his boat? From what I garnered from the article, it sure seems that way. And if you look at most successful individuals, you will find that many of them are highly competitive in all aspects of life. It's their nature, so you shouldn't hold it against them. My point is, even if it is the question of "Who-Has-The-Biggest-Dick", who are we to say that's immoral, unethical, or unjust?

And in regards to the "inappropriateness" of the boat sailing into the SF harbor, that's just plain ridiculous. Should everyone suddenly stop wearing expensive clothes, driving expensive cars, or buying expensive houses because the brokers on Wall St made a couple of stupid bets?

[dhuck]

I have nothing against Mr. Perkins personally. I think he's a great investor - and he's undoubtedly a lot smarter than I am. I have nothing but respect for the man's accomplishments, I just take offense at how he chooses to spend his money. Now, granted, yes, it's absolutely none of my business at all. I would hate to be told how to spend my money, so it's hypocritical for me to judge him on how he spends his money.

But with that said, I just think it's a waste.

You can't moor a boat this size in a normal harbor (yet). And in a lot of ways, bigger isn't better (especially for a sailboat, as tlrobinson mentions below.) I read an article about a visitor on Larry Ellison's ship that said it was like walking in an empty mall. That's just how it feels - huge, imposing, but utterly empty.

I think it's hard for us to say if he gets the value out of his boat or not (and it's not our business anyway, true.) I speculate that he doesn't because I see this boat as just another conspicuous display of wealth intended to validate Mr. Perkins' ego. And if you can't feel secure about yourself without a big boat - then I really think you should reevaluate your priorities in life.

"Should everyone stop [displaying their wealth] because the brokers on Wall St made a couple of stupid bets?"

No, of course not. If we take away that - then what reason do you have to try to make it big?

The source of my "hate" of money is that I think people (especially Americans) think money is the answer to everything. To quote Blow - "Money isn't real, it only seems like it is." Over the long term, a big boat will not make you any happier than a smaller boat. Anything that you buy eventually will lose its luster. That Lambo? It'll feel awesome that first day, but then the second day - you're a little bit more used to it, and it loses a little value to you. By year 10, what is it worth to you?

I just feel that if people recognize this - that you eventually get used to all this stuff that you buy - than they wouldn't need to spend so much money on themselves. There are people starving in this world, dying of illnesses that could be treated, and Mr. Perkins is sitting in his empty mall of a boat. I personally feel that's immoral.

But he's free to do what he wants - and I'm free to take potshots at him from an internet forum. If he doesn't want to make this world a better place with his money (and honestly - he might be doing that as well, I probably am not giving him enough credit) - he's free to do that.

(Another important thing to consider is that this boat will be used to entertain hundreds of people, and not just for carrying around 12 guests. So it has many more uses then I am giving it credit for.)

laut: "It isn't his fault that the financial system is a mess. Turn to politicans and voters for that."

Anyone who demands greater and greater returns on their investments, at any cost - is the cause of this mess. Greed produces this demand. Poor people and rich people can both be guilty of being greedy, but it is people like Perkins and company that have the power because they hold the chips, and it is their demands that get heard over everyone else. Thus, the richer and greedier that you are - the more likely it is you that caused this mess.

And to clarify, I hope the boat doesn't sink with anyone on it. I don't wish that on anyone.

[sutro]

Care to back up your claims that Perkins demands greater and greater returns "at any cost" or that he has any real connection to the subprime meltdown?

[DabAsteroid]

There are people starving in this world, dying of illnesses that could be treated, and Mr. Perkins is sitting in his empty mall of a boat.

Tom Perkins said the same thing in the CBS interview link (video and text-transcript, Page 2) that Jonknee posted in this thread.

http://www.cbsnews.com/stories/2007/11/01/60minutes/main3442...

Asked how much the Falcon cost Perkins, he tells Stahl, "The rule of thumb, Lesley, is that a big yacht costs about a million dollars a meter."

The Maltese Falcon is 88 meters long.

"I know it cost more than $88 million," Stahl remarks. "I've heard about $150 million. But I've also heard $300 million."

"No, not $300 million," Perkins says. "That's too much."

"Why don't, why won't you tell us? You've told us everything else. You don't seem to be embarrassed about everything else?" Stahl says.

"I'm embarrassed about that," Perkins admits.

Asked why, Perkins says, "There's the homeless and charity and there's lots of things you could do with that money that would improve the world, right?"

"Oh, good point. That you bring up yourself?" Stahl asks.

"Yeah," Perkins says. "So, you know, 'How selfish is this guy?' is, I guess, is the criticism. So the answer's pretty selfish, but I'm just not gonna put a number on it."

Why did it have to be the biggest boat?

"Lesley, I could give you some technical reasons on why it really has got to be big to work right. But I just wanted the biggest boat. Let's admit it," he says.

"It’s ego," Stahl remarks.

"Do I have an ego? Yes," Perkins admits. "Is it big? Yes."