Organisers of the Doha Diamond League Meeting on May 8 have confirmed that athletes who set new meeting records at the 2026 event will be awarded a $5000...
The Doha DL will be offering a $5,000 bonus for every meeting record this. So you break a met record and that's only worth $5,000 extra. Meanwhile, at GST the last lane filler was supposed to make $12k.
The Doha DL will be offering a $5,000 bonus for every meeting record this. So you break a met record and that's only worth $5,000 extra. Meanwhile, at GST the last lane filler was supposed to make $12k.
the reason it went broke is simply because they acted like pledged money raised = money raised.
until you have the cash in hand, you do not have the cash.
such a simple mistake. we call this the cart horse problem. You've got to get them in the right order. guess what - its horse (money) then cart (meets) not the other way around.
the reason it went broke is simply because they acted like pledged money raised = money raised.
until you have the cash in hand, you do not have the cash.
such a simple mistake. we call this the cart horse problem. You've got to get them in the right order. guess what - its horse (money) then cart (meets) not the other way around.
the reason it went broke is simply because they acted like pledged money raised = money raised.
until you have the cash in hand, you do not have the cash.
such a simple mistake. we call this the cart horse problem. You've got to get them in the right order. guess what - its horse (money) then cart (meets) not the other way around.
You don’t understand anything about business. Just this week alone nvida meta google and Amazon have all announced they are spending money they don’t have . The latest is Amazon saying their capex will be 200 billion this year. And they don’t have 200 billion. That’s not the reason gst went bankrupt. It is a contributing factor.
the reason it went broke is simply because they acted like pledged money raised = money raised.
until you have the cash in hand, you do not have the cash.
such a simple mistake. we call this the cart horse problem. You've got to get them in the right order. guess what - its horse (money) then cart (meets) not the other way around.
Naively trusted Bill Ackman
Blaming Bill Ackman is an asinine comment. He was the largest funders of GST. He never agreed to fund more than he gave GST.
If anything he was foolish to let Michael Johnson use his money poorly.
Also, the Todd Boehly entity, Eldridge Industries, never agreed to fund GST.
Michael Johnson spent the money that he was given poorly.
Without Bill Ackman funding the debtor in possession bankruptcy loan, GST would likely currently be in liquidation.
the reason it went broke is simply because they acted like pledged money raised = money raised.
until you have the cash in hand, you do not have the cash.
such a simple mistake. we call this the cart horse problem. You've got to get them in the right order. guess what - its horse (money) then cart (meets) not the other way around.
No, the reason it went bust is because outside of Lets Run no one knew it was even on. It was a total non event.
The issue was people who like "track" thought it was popular because the Olympics got half decent viewers.
LR doesn't like to hear this but outside Olympics and potentially WCs, athletics is a none event for billions of people.
People want something on the line, some sort of jeopardy. They don't want meaningless "meets".
the reason it went broke is simply because they acted like pledged money raised = money raised.
until you have the cash in hand, you do not have the cash.
such a simple mistake. we call this the cart horse problem. You've got to get them in the right order. guess what - its horse (money) then cart (meets) not the other way around.
You don’t understand anything about business. Just this week alone nvida meta google and Amazon have all announced they are spending money they don’t have . The latest is Amazon saying their capex will be 200 billion this year. And they don’t have 200 billion. That’s not the reason gst went bankrupt. It is a contributing factor.
That’s not a good comparison. Amazon announced that it was planning to spend $200B of capex. It didn’t actually buy $200B of data center equipment on credit from the vendors, use that equipment, and now has to go find the money to pay the vendors. That would be the equivalent of what GST did. And even if Amazon did that, it is a $2.2T publicly traded company. It could issue $200B of stock to pay for its capex. The stock price would go down, but the company wouldn’t go bankrupt.
If all GST did was announce that it was going to spend a bunch of money on track meets, failed to raise the adequate capital, and then not hold any meets, it wouldn’t be bankrupt. But that is not what it did. It actually spent something that it didn’t have and couldn’t raise — it promised its vendors (athletes) a bunch of money, used their services, and then didn’t pay them because it didn’t have the money and was unable to get it. Amazon is not putting itself in that situation.
