Why does the outcome makes it different.

Lida93

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Quote from: davis196 on Today at 02:12:41 AM

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1. Why is it that society don't criticise people that took such risk and made profit but will be so quick to criticise those that took same action under similar conditions and made loss?
2. Isn't it the same stupidity or it that the outcome justifies a difference?

The case with Frederick Smith has been discussed multiple times on the forum. Just search for old forum threads instead of posting a new one.
1.Everyone loves winners. Nobody loves losers.
2.The society doesn't criticize gamblers that made a loss here and there. The society criticizes gambling addicts, that got into big debt and ruined their lives.
It's OK if you have lost some money in a casino every once in a while. It's definitely not OK when you get addicted and waste big amounts of money on a casino.

If we all get to be on the side of winners alone does it mean losing isn't also a part of gambling. Because It's actually different when a gambler is constantly losing money to gambling. In that scenario the gambler would be projected as someone wasting money or doesn't have anything meaningful to channel his money on, but in the event of making wins no body will ever make comments about the gambler channeling his money elsewhere instead.

All am saying is that, same perspective we view winners should also be accorded losers so they don't get to feel like they made a bad decision where someone that got lucky in same situation is said to have made a good decision.

Taking into account the number of users that have reiterated about this topic been discussed previously, I am left with no option than to have it locked. Thanks you all for your views.

DubemIfedigbo001

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This is another description of the end justifies the means and nobody cares how you won, all you got to do is just win and never stop winning. Negative outcomes are constantly victimized by the society and positives praised without detailing the proceed of achieving such wins.

Let's analyze this victory critically, nobody detailed how he made the $27k, we didn't know if he hit the jackpot once or he played and lost consistently until he made the breakthrough, which is another reminder that your struggles are private, but your success is public.

Another notable behavior that I admire about him is knowing when to stop and that is almost what gave him the success because if he has continued gambling, we can only guess what the outcome would be.

viljy

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There is a simple explanation for this. People love the lucky ones. The same principle is described by such well-known expressions as "The end justifies the means" or "Winners are not judged", by the way, the latter expression well explains the described situation with a risky player and his business.
Indeed, if he had lost, the attitude towards him would have been completely opposite, as would the assessment of his act. In fact, there is some hypocrisy in all this "estimated lability" of others, if you look at it with an open mind. Therefore, such questions arise, as in the starting post.

Natalim

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Quote from: Patikno on Today at 02:15:32 AM

That's life, people will give us praise when we succeed, and for those who fail, people will curse them & think that what they did was stupid. By the way, what Frederick Smith did was a less risky move in my opinion, if he lost, he would probably just file for bankruptcy. There was nothing for him to lose except the company's money.

You’ve got a point, but legally, it doesn’t hold up since that’s the company’s money. How’s he even going to explain that? If you’re filing for bankruptcy, you have to account for how every cent was spent, including the amount he gambled. And guess what, that would likely be disallowed since it’s not exactly a business-related expense.

Patikno

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That's life, people will give us praise when we succeed, and for those who fail, people will curse them & think that what they did was stupid. By the way, what Frederick Smith did was a less risky move in my opinion, if he lost, he would probably just file for bankruptcy. There was nothing for him to lose except the company's money.

davis196

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1. Why is it that society don't criticise people that took such risk and made profit but will be so quick to criticise those that took same action under similar conditions and made loss?
2. Isn't it the same stupidity or it that the outcome justifies a difference?

The case with Frederick Smith has been discussed multiple times on the forum. Just search for old forum threads instead of posting a new one.
1.Everyone loves winners. Nobody loves losers.
2.The society doesn't criticize gamblers that made a loss here and there. The society criticizes gambling addicts, that got into big debt and ruined their lives.
It's OK if you have lost some money in a casino every once in a while. It's definitely not OK when you get addicted and waste big amounts of money on a casino.

Frankolala

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This has been discussed before here, and he was just lucky to be at the right place at the right time and also quit the game at the right time, if not maybe we wouldn't have heard what happened.

Quote from: Lida93 on November 21, 2024, 10:46:45 PM

1. Why is it that society don't criticise people that took such risk and made profit but will be so quick to criticise those that took same action under similar conditions and made loss?

This is because people don't care about how you make the money but they will praise you that you are very smart for succeeding without seeing your stupidity, but when you fail that is when they will see the stupidity in your action and will begin to criticise you.

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2. Isn't it the same stupidity or it that the outcome justifies a difference?

Of course, the outcome justifies what people will tell you, either to praise you or crucify you for your foolishness.

danherbias07

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Quote from: Lida93 on November 21, 2024, 10:46:45 PM

Most times we don't get criticized because of using money that wasn't meant for gambling to engage in gamble but when we lost that money to gamble.
1. Why is it that society don't criticise people that took such risk and made profit but will be so quick to criticise those that took same action under similar conditions and made loss?
2. Isn't it the same stupidity or it that the outcome justifies a difference?

First, the FedEx guy story had been shared repeatedly here in the gambling discussion thread so I think many members already knew about that story.

1. You lose money in gambling, what else do you think people will think about you? Pity you? Maybe. But if it is your family member, the first impression will be you are in the wrong direction.
2. Always the outcome that justifies everything. Not just in gambling but in everything. You don't finish your project in your job even if you worked so hard for it, you get criticized. You helped others along the way and did not help them recently, you are a bad man. That's how things go and how life is, they will look at what you did right now and not what you did in the past. It's always the end game no your way through it.

cryptoaddictchie

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If this is true then his quite a guy and that callef persistent. Probably during that time he can do some loans just to keep it to continue, and instead uses his remaining money to gamble and risk to have more funds to support his company. I could say its a bold idiotic brave approach but to be honest we dont know the mans thinking.

But if ever he did lose maybe he doesnt have the will to continue on realizing what he made is a huge mistake.

Richbased

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Quote from: Lida93 on November 21, 2024, 10:46:45 PM

As we can see from the image, this guy took the last $5,000 belonging to the company to gamble and was fortunate to make a profit of $22000 plus his capital totalizing $27,000. With his actions, he is now glorified to have saved his company from an impending collapse.

Now lets look at this in the opposite. What do you think may have been the fate of this very man today if he had lossed. Not sure anyone would have commend his action especially from where (gamble, of all places) he chose to go sort out money from, under such critical moment.

Inasmuch as i don't welcome this kind of risks, but in the other way round sometimes we just need to take calculated risks even if it doesn't go in your favor, you bear the brunt. Maybe even if he didn't take that risks the company may have gone bankrupt which will still lead to the company falling.

However, I won't advise anyone to use money that doesn't belong to them to take such a risky game because if the reverse had been the case maybe the company would have arrested and prosecuted him, but now that his risky decision have now saved the company, everyone is applauding him for his bravery. It is in the nature of humans to criticize someone when they try to rescue a situation and it ends up getting worse but when they succeed and make it, they are being commended.

Except a company that is owned by me, I won't take such risks because even now that he has revived the company, in the future they might even start fighting him and if he recalls how he saved the company in the past they will tell him that no one forced him to take such risks. In all, you can never please humans because they are only appreciative at the moment but in time coming they would turn against you and neglect all your efforts.

Russlenat

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He made it so let's congratulate here. However, not everyone who gambles their last dime to save their company will have the same outcome, as you know the odds are always against us in gambling, and most of the time, we lose. He was just lucky that things went his way this time.

It wasn’t exactly a smart move, but maybe he had no other choice. And honestly, that’s how many successful businesspeople operate, they’re high-risk takers. To play at that level, you’ve got to learn to gamble, because, at its core, business is a gamble too.

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Quote from: Lida93 on November 21, 2024, 10:46:45 PM

1. Why is it that society don't criticise people that took such risk and made profit but will be so quick to criticise those that took same action under similar conditions and made loss?
2. Isn't it the same stupidity or it that the outcome justifies a difference?

Society celebrates success and not failures. People don't want to hear excuses they want to see results. If your house is on fire, and you run in to recover your private keys, if you succeed you are brave, but if you die you are foolish. People don't care about the process; the result is all they are concerned about.

Quote from: Poker Player on November 21, 2024, 10:57:47 PM

This case, which is often commented on, is more of an anecdote. He had only $5K and playing BlackJack he got a total of $27K. But the most important thing is that when he reached that amount he stopped playing and went to his company.

Thank you for your idea. The moral of this story for me is not that he used his company fund to gamble and win big. But he stopped gambling after he won big. The majority of gamblers who win such an amount will keep gambling until they lose all they have won.

mvdheuvel1983

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Quote from: _act_ on November 21, 2024, 11:28:50 PM

Quote from: Poker Player on November 21, 2024, 10:57:47 PM

In general, going to the casino when your company has financial problems is a very bad idea, the opposite of what the news wants to convey.

This is just exactly what it is. But I have noticed something in life. If you use your life to take risk and you got lucky, your luck is what the news will talk about. They do not care about how you did it. They know that such news will be what people will like to hear or read and news is all about something like that. What I can also say is that a person that use his company's money to gamble is very wrong. I do not want to know if he has good intention or not.

This is something that needs a lot of attention because the reverse case would have been a different thing if he had lost the money he took from the company, you can imagine someone risking his life to do what he did and the news is circulating every only because it turned out well for him, imagine he lost the money by now he would have been imprisoned and criticized for doing something stupid. I don't support that idea because it is wrong to gamble with a borrowed money in the first place.

gunhell16

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Quote from: Poker Player on November 21, 2024, 10:57:47 PM

This case, which is often commented on, is more of an anecdote. He had only $5K and playing BlackJack he got a total of $27K. But the most important thing is that when he reached that amount he stopped playing and went to his company. The difference is not very significant, if he didn't make that money he could have gotten a loan elsewhere or maybe sold some small part of the company to get it.

In general, going to the casino when your company has financial problems is a very bad idea, the opposite of what the news wants to convey.

That's also what I know about the history of FedEx, after he won where he turned the 5000$ into 27000$, he stopped and used the 27000$ he won for their FedEx business, to get back on his feet again. That means he wasn't really in the habit of gambling.

Maybe at that time he took a chance to get lucky and grow his remaining money, and then he got lucky and had a start in their business again.

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Quote from: Lida93 on November 21, 2024, 10:46:45 PM

As we can see from the image, this guy took the last $5,000 belonging to the company to gamble and was fortunate to make a profit of $22000 plus his capital totalizing $27,000. With his actions, he is now glorified to have saved his company from an impending collapse.

Now lets look at this in the opposite. What do you think may have been the fate of this very man today if he had lossed. Not sure anyone would have commend his action especially from where (gamble, of all places) he chose to go sort out money from, under such critical moment.

Most times we don't get criticized because of using money that wasn't meant for gambling to engage in gamble but when we lost that money to gamble.
1. Why is it that society don't criticise people that took such risk and made profit but will be so quick to criticise those that took same action under similar conditions and made loss?
2. Isn't it the same stupidity or it that the outcome justifies a difference?

I remember this quote, "desperate times calls for desperate measure. This is not me in anyway endorsing what he did but a CEO got to do whatever a CEO got to do legally to keep his company afloat. He knew the consequences of his actions if it didn't turn out well and you know the buck stops at his desk, so he did it anyways. Pretty sure that would have been first and last time he did that.

Now, let's look at it a little critically, blackjack is not a actually a game of luck but skill. Man probably a very highly skilled and knew he could win so he went all in. Maybe that was his last option use what skill he had outside the company to save his company. Now, he didn't depend on luck because that would have been a dumb move. Imagine it was a slot game, by now his company would have been long gone.

Well, I don't in any way endorse gambling as a way to get back on your feet. What I endorse is doing whatever you can legally to save yourself, family, and company.

Odohu

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Quote from: Lida93 on November 21, 2024, 10:46:45 PM

source.

As we can see from the image, this guy took the last $5,000 belonging to the company to gamble and was fortunate to make a profit of $22000 plus his capital totalizing $27,000. With his actions, he is now glorified to have saved his company from an impending collapse.

Now lets look at this in the opposite. What do you think may have been the fate of this very man today if he had lossed. Not sure anyone would have commend his action especially from where (gamble, of all places) he chose to go sort out money from, under such critical moment.

Most times we don't get criticized because of using money that wasn't meant for gambling to engage in gamble but when we lost that money to gamble.
1. Why is it that society don't criticise people that took such risk and made profit but will be so quick to criticise those that took same action under similar conditions and made loss?
2. Isn't it the same stupidity or it that the outcome justifies a difference?

I will never do this neither will I advice anyone to do it because it is a bad move that has higher chances of failure than success and whose failure outcome will damage his reputation and peace of mind. The money was not even his money but company's money, a money that he cannot afford to lose and which can send him to jail in some instances. Him being celebrated is hypocritical because the same people celebrating him would have crucified him if he had lost the money.

Stablexcoin

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The idea was a dangerous one but at the moment it was the best decision he had made in that situation. If he had not found a solution the company would still lose the $5000, because it wouldn't run the company in a few days, rather than losing the money it's best to risk it into something or perhaps take a loan to support the amount. The options were just two. However, if he had taken a loan then by now he would be thinking of paying interest and raising the money back.

Honestly, I do not see it as stupidity rather it was a risk that needed to be taken at that point in time. Being a CEO is not an easy job at some point you take one crazy risk that might ruin everything if you fail.

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There will be no one who criticizes and says bad things about success and the average praise is for victory, I think this is reasonable condition and has become natural human attitude that always cannot accept failure, this is not stupidity friend.
I surprised by those who dare to take risks for such big goals, if there is no luck maybe the person will be ostracized or even lose his job but yes, it is all the result of good luck that may never happen again.

_act_

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Quote from: Poker Player on November 21, 2024, 10:57:47 PM

In general, going to the casino when your company has financial problems is a very bad idea, the opposite of what the news wants to convey.

This is just exactly what it is. But I have noticed something in life. If you use your life to take risk and you got lucky, your luck is what the news will talk about. They do not care about how you did it. They know that such news will be what people will like to hear or read and news is all about something like that. What I can also say is that a person that use his company's money to gamble is very wrong. I do not want to know if he has good intention or not.

Zwei

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is this even true? i see a lot of those posts with similar stories, and their only source is "trust me bro"

the thing is, there are hundreds of business owners who took the same risks as him, but lost it all, no one cares about them. most people judge based on the outcome and could care less about the actions that got you there.
you would do the stupidest thing, but as long as it works, you will be praised. do the same thing but fail, and you will be laughed at.

Topic: Why does the outcome makes it different. (Read 139 times)