Let’s say a company you founded recently collapsed, taking large chunks of an industry with it and leaving numerous people with substantial financial losses. Would you work to rectify some of those issues? See what you could do to minimize the extent of the damage? Or would you simply find somewhere with a nice climate and enjoy a vacation in the tropics?
As a recent New York Times article on the two founders of Three Arrows Capital points out, the two men behind the hedge fund in question decided to go with option number three. Last year, the end of Three Arrows Capital was extensively covered, with New York‘s article on the end of the fund opening with a story about the co-founders in question, Su Zhu and Kyle Davies, disappearing from the scene before making the final payment on a 171-foot yacht that they planned to christen Much Wow.
The Times article, by David Yaffe-Bellany, catches up with Zhu and Davies, who both seem generally unfazed by both the end of their hedge fund and its effect on the larger industry. As Yaffe-Bellany points out, the end of Three Arrows resulted in creditors being owed $3.3 billion.
For their part, the duo went to Bali. “You eat very fatty pork dishes, and you drink a lot of alcohol, and you go to the beach and you just meditate,” Davies told the Times of his activities there.
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According to the Times‘ reporting, the Three Arrows founders are working on their next move, which includes a crypto exchange for which they used the working codename “GTX.” A trip to Bali when times are tough does sound pretty nice, to be honest — but there’s also a bizarre level of hubris on display to think that anyone going through a difficult personal or professional time can pull something like that off.
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