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VENTURE CAPITALISTS INVEST IN SOMALI PIRATES

Posted By Barry Ritholtz On November 20, 2008 @ 7:30 pm In BP Cafe,Markets,Venture Capital | Comments Disabled

Hysterical:

VENTURE CAPITALISTS INVEST IN SOMALI PIRATES [1]

VENTURE capitalists in New York and London are pumping millions of dollars into Somalia’s booming pirate sector.

Personnel issues are now dealt with via mentoring and third-party arbitration
The sharp-eyed investors say Indian Ocean piracy has replaced Bangladeshi t-shirt factories as the developing world’s strongest source of high-growth revenue streams.

Julian Cook, head of strategy at Porter, Pinkney and Turner (PPT), said: “The margins are very impressive. These guys can board a Chinese freighter or Saudi oil tanker and turn it around in less than a week. Usually without killing anyone.

Source:
VENTURE CAPITALISTS INVEST IN SOMALI PIRATES [1]
Daily Mash, November 2008

http://www.thedailymash.co.uk/index.php?option=com_content&task=view&id=1405&Itemid=59


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