The Annual Vanity Fair summer for 2016 will take place on October 19th and 20th in San Francisco. Jeff Bezos and Kyle Bass will be on a panel discussing very interesting topics, concerning IT, finance and entertainment. Was Vanity Fair fair in inviting Mr. Bass to its October summit?
“Shouldn’t celebrities have only positive records?”
In every MBA course, there is a class for “Business Ethics.” While Bass was successful in predicting the 2008 Sub-Prime Mortgage Crisis, have all of his ethical decisions been above board? Mr. Bass will admit that he has made mistakes, but what were the reasons for these mistakes?
At the Vanity Fair summit, Kyle Bass is sure to turn heads. Of course, this is one of the reasons he was selected. He is intelligent, charismatic and brash.
“Negative Decisions Sink Ships”
Unfortunately, Kyle Bass’ record after 2008 has been less-than-stellar. He has made annual predictions since 2010 that Japan’s economy would fail. Has it failed? Actually, some think Japan’s economy has become a flat-lining Zombie economy.
As General Motors faced lawsuits over faulty airbags and power steering, Mr. Bass decided to “blame the victims.” His Hayman Capital Management firm is even in a dispute with the American Sniper widow. Does bad luck follow Mr. Bass around like a shadow?
“Bass Loses Patent Challenge”
In August 2015, Kyle Bass lost his challenge to “Acorda Therapeutics Inc’s multiple sclerosis drug, Ampyra” before the United States Patent & Trademark Office. Mr. Bass used a legitimate process called “inter parties review” to question the validity of various drug patents.
After Kyle Bass made his Acorda challenge, the company’s stock fell 10% (Bass profited therefrom because he shorted the stock). Thus, was this ethical behavior? Hadn’t Bass’ actions caused the stock to fall?
Now that the US Patent Office has rejected Mr. Bass’ appeal, his enemies are crying bloody murder. They believe that Mr. Bass is involved in a little “unethical financial scheme.” But wasn’t the 2008 Sub-Prime Mortgage Crisis an “unethical financial scheme?” Takes one to know one.