Must Read: Rags To Riches To Hated, Bitches: The Martin Shkreli Story

“the most hated man in America” Is a tagline you may have recently heard dubbed on a man named Martin Shkreli. This title is due to the CEO’s recent price hike of an antiparasitic pharma drug (used for patients containing the HIV virus, and pregnant women) by over 5600%. The price hike was part of a business strategy to acquire out-of-patent medicines for windfall profits*. But That isn’t close to the good bones of the Shkreli story, that’s only the reason Mr. Shkreli came into the spotlight recently.

Shkreli

Martin Skhreli was born to Albanian and Croatian immigrants who both worked as janitors, in Sheepshead bay Brooklyn, 1983. Skip the childhood and cut to senior year of high school where a young Shkreli dropped out because of lack of interest, but was able to pursue sufficient credits to graduate through an internship on wall street (Cramer Berkowitz). Shkreli garnered recognition from the company’s higher ups after a good call shorting a biotech company(Shkreli was directly questioned by the feds about his trade, first sign*). It was at this juncture that Skhreli presumably got his eye on the market and the dollar, as he used the pharma industry as his chess board.Shkreli Chess

A 2005 graduation date from Baruch College in New York City and ample experience in the financial field led him to short term jobs as an analyst with Intrepid Capital, and UBS management. It was one short year later in 2006 that Shkreli started his first hedge fund, Elea Capital management. The second sign* of foul play can be seen early as Lehman Brothers won a 2.3 million dollar default judgment against the fund, but luckily Lehman Brothers collapsed before it could crystalize the money.

2009 Shkreli launches MSMB Capital Management, which became known for shorting companies, and proceeding to incessantly expose flaws in the said companies among internet stock trading chatrooms, thus driving  possible investors and journalists away from the stock. From 2009-2011 Shkreli continues trading pharma stocks through MSMB. It is around this time he also begins absorbing companies with new groups. For a time period he is the CEO of two pharma companies. Shortly after Shkreli founded the company Retrophin, he is removed as CEO by the board of the company, and sued for 65 million dollars for improper use of funds, third sign*.Shkreli hoodie arrested

February 2015, the name we’ve all been waiting for, Turing Pharmaceuticals, is founded by Martin Skhreli. He sets a business model to obtain out-of-patent medicines, and essentially corner the market on the product, making Turing the only game in town, and thus having price manipulation options. Here is where the ever so famous price hike comes into play. Turing acquired Daraprim (an FDA approved therapeutic since 1953) for 55 Million dollars. A deal was brokered to acquire the drug and it’s distribution rights, hence acquiring an entire market without competitors. The price of the drug, which is used in HIV positive patients, and anyone with compromised immune systems really, went from $13.50 U.S, to $750.00 U.S overnight. Now remember the majority of this price is paid by insurance agencies, but there is always a trickle down effect. Once this news broke the media took hold and do-gooders everywhere decided to chime in, including the majority of presidential candidates on both sides. A terrific..

..quote given by Shkreli on the topic, breaking the accusations into lesser mumbo jumbo, “If there was a company that was selling an Aston Martin at the price of a bicycle, and we buy that company and we ask to charge Toyota prices, I don’t think that that should be a crime”. Hilariously..

a few days after this statement Shkreli publicly announced he would be lowering the price of the drug, and a short while after that, the company announced the price drop would not be happening. Was Martin Shkreli Trolling the media? Perhaps. The company has since agreed to actually lower the price of the drug.

December 17th, Shkreli receives an Indictment letter from the United Stated Government on securities fraud charges. To avoid legal jargon, he is being sued for a ponzi like scheme paying off investors of his hedgefund with money from the company he founded, Retrophin. He is currently still in the legal process. In mid February Skhreli acquired a new top dollar lawyer, who’s conditons to start working were that Shkreli keep his mouth shut on all media outlets. Martin Shkreli is in the midst of legal battles at the moment.

You decide what’s fair and what isn’t, was this business or robbery?

Feel free to leave your thoughts at the bottom, as always, be tactful and think it through.

Stay Wise,

S.

Fun facts about Martin Shkreli:

  • 2014 League of legends player “Imagine Cerebral”, he is the owner of the team Odyssey E Sports. Aimed to qualify for the 2015 League of Legends Qualifier, but failed.
  • November 2015 wins auction for the only copy of the Wu-Tang Clan Album Once Upon A Time In Shaolin. Bloomberg BusinessWeek reveals Shkreli as the purchaser in December of 2015. He has made many threats to break the CD, or simply never let anyone else hear it. My personal thought is that Wu Tang thought whoever won it would sell the copying rights, go figure.
  • Shkreli Offered Kanye West 15 Million dollars for his new album “The Life of Pablo”, the offer was declined.
  • **Windfall Profits are basically insane profits brought about by specific circumstances, whether they be man made or timely, like a price spike or supply shortage. Windfall Profits are also a legal term used in a different branch of taxation.

 

The Silk Road: How Online Drug Dealing Paved The Way For Marijuana Legalization

Silk road cool

Throughout history, the people have prevailed. Whether that success come through rebellion, a vote, or demonstration, the majority can expect success. That statement may be more applicable in democratic countries such as the US. A wonderful example of this would be prohibition in the United States, Alcohol was deemed illegal and we all know how that story goes. We are currently in the marijuana transition phase of the United States, and we must recognize that the inevitable is coming. (like we are in the Steph Curry era, just enjoy it) And the decision is coming easier thanks to e-commerce.

With the emergence of online drug malls like Silk Road, the idea of, what I will refer to as new wave drugs (being that they are not widely legal, yet) is approaching an “if you can’t beat them, join them” area. Now that a good portion of the United States has bent the previous laws on marijuana, being medical use, or lessening of punishments, and even legalization, the project is in motion. But it is only a matter of time before this too is seen as a viable business option on a much much larger scale. How far are we from seeing the first Marijuana related stock trading? We’re not, many of those exist. Whether or not that blew your mind, all the cool kids are dealing weed with a business license these days, and it’s getting bigger. Whether the herb is a good idea, lies in your ethics handbook.

The development I’m currently watching is which grows more rapidly, electric cars, or marijuana business/legalization. My money is on electric cars, because the whole world is in on the oil business, but make your own decision.

 

-S

Kanye New Album Mysteriously Un-Streamable. Coincidence?

A quick jot. Kanye west’s album “The Life of Pablo” was streamed live from a fashion show held by Kanye Feb. 11 at 4pm. The server airing the show “Crashed” and the world was only given a brief taste. I heard one song of it titled “Ultra Light Beams” and it was fire, we may have struck musical gold. Keep your eyes open people, Kanye West loves a good social ploy, don’t expect this whole thing to be just an album release.

-S.kanye-fashion-week-tyim-2015-bb38-billboard-620

Duckface Was One Thing, But is OPP Really Where America is Heading?

          Ok as an American we have the right to choose, but this Open Palate Photography should hit the bricks, and quick. still not sure what were talking about here? It’s when someone decides that their most attractive face is a wide open fly catcher, uvula  on all cylinders. lets get right to exhibit A. 

OPP asian 1

OPP 1

           Are we seeing this yet? Good call Trisha T. And it’s not like were mad about it here at Wise™, it’s just, ok yes we are very upset about this. I just hope the next big trend isn’t shaving one eyebrow off to show independence or some bullshit. Yes society blah blah, cool do your thing, but shut that dam mouth. 

OPP featuring the peace sign

OPP featuring the peace sign

         Now were getting into combo shots here, this girl is OD’d on OPP at prom and she’s washing it down with a peace sign. we can only fathom where she is today and wish her our very best.

OPP at the sleepover

OPP at the sleepover

One sleepover member is clearly a hard OPP-user, she’s about 82% here and her friends are just letting it happen. Tisk, tisk.

OPP on the balcony

OPP on the balcony

Now to be fair this one is pretty cute, she’s only going about 37% OPP. Not a bad percent if your steadily trying to get off OPP. Curious though was she yelling mid sentence? What’s the natural pose this is simulating?

Goodluck people, and remember to stay clean. And from all of us here at Wise™, we are not down, with OPP. 

Girl Titles Self Photo “Fugly” Accidentally Posts To Facebook, What Happens Next Will Blow Your Mind

It was not long ago that young Megan had been looking to add some flare to her facebook profile, it had been a bit of time since her last like, poke, or photo tag. She decided a self portrait was what her page could use, she snapped photo after photo, peace sign, pouty lips, the list goes on, but none were the spark she was looking for. On her last photo, she had gone so for as preparing to upload, and writing a caption. Cynically, she types “Fugly”, demeaning herself in the process, and wallowing in pity with displeasure about her less than photogenic nature. She locks her phone without hitting post, It’s 11pm on a Tuesday, and little Megan heads to bed, nervously awaiting her first day of high school the next day.

During the night by some, almost cosmic chance, the photo had been posted to her profile. She awakes, “How, how could this have happened to me?”. But wait little Megan, there are comments, from other girls, saying “Megan babe you’re like so pretty” and “Honey you look gorge” and “pretyyy girllll” and “i’m jel of yer hair”. It’s a miracle, how did something so wrong turnout so right for Megan? The world may never know how or why that photo she hated so much was posted, but it seems to happen pretty often.

“Fugly”

Fugly

SCIENCE

The case was reviewed by top notch researchers including MythBusters, CNN, MTVnews, and Ancient Aliens. 52% of researchers say the post was a “Miracle” or “Natural Phenomenon” as they say in the industry. 37% say they were “Unsure of the cause”. While 11% stated “Are you serious, she clearly posted this herself”. We may never know how Fugly Posting occurs, but we are sure of this; celebrity’s had their two cents to add.

FAME

Tim Allan was quoted saying “This is unimportant

Jennifer Lopez says she “understands where this girl is coming from[the block] and wants her to reach stardom through her charitable work on fb.” When it was revealed to Ms. Lopez that she doesn’t know what she’s talking about, she recalled her statements.

Share and repost to help spread Megan’s amazing story with the world

-Sharpe

Trump Vows To Question His Own Gender, Seeking Liberal Vote

      In his most recent public statement, Donald Trump had this to say “I know what these people want, what they love, and what they love is choice, so I’m willing to reconsider my gender because I know that’s hot right now, I’m a man of the people what can I say” – In what seems to be a final push effort from the gop frontrunner to try and pull votes to his side, Donald trump has committed to questioning his own gender? The announcement came as a shock since it was delivered shortly after his Veterans Fundraiser, and historically veterans and transgender communities have not coincided on the voting charts, but who knows how the polls will shift.  A bold move by the Donald and we’ll see how it plays out. He was even kind enough to do a photo shoot of some potential looks for the new campaign. From everyone here at WTN, Stay Wise, and listen to the truth, not the speeches.

-S