Is Curt Schilling Getting A Bad Rap?
Let me start by saying I don’t like Curt Schilling. I think he’s a loudmouth blowhard. And back in 2010 when he announced he was relocating 38 Studios to Rhode Island I blogged it and made fun of RI for being morons. Here is the blog….
Boston - Former Red Sox pitcher Curt Schilling is moving his videogame company 38 Studios, based in Maynard, from Massachusetts to Rhode Island. The deal will bring Schilling’s company a $75 million loan guarantee backed by that state. “I’ve invested a significant amount of my life’s earnings in 38 Studios,” said Schilling, “and I will protect the loan guarantee that’s been given by the state with the same passion and interest that I’m protecting my own investment in this company.” Rhode Island’s Economic Development Corporation today approved a $75 million loan guarantee to Schilling’s company. The EDC board approved the offer after concluding that the company offered growth opportunity and could help drive the state’s economy. The offer represents 60 percent of the maximum $125 million loan guarantee allowed under state law. The company said it could bring 450 direct jobs to the state by the end of 2012 and would pay a penalty if it falls short. But some are concerned by the size of the loan guarantee and that the company doesn’t have a proven track record.
Rhode Island is guaranteeing a 75 million dollar loan to Curt Schilling’s video game company? What does that even mean? Like if Curt goes bankrupt RI will have to pay back the loan? Is that shit normal? Does RI even have 75 million dollars? And if so is this really how they want to spend it all? Like I’ll gladly relocate to the Ocean State if they’ll back a 20 million dollar loan never mind 75 million. It’s kind of a no brainer if you ask me. I mean I’m pretty sure smut is way more recession proof than dorky video games. So let’s talk Rhode Island. Help me help you.
But having said all that I go to be honest. I have zero problem with anything Schilling did here. Like should he have told his employees about the financial problems earlier? Yes. Did he have any clue what he was doing? No. Does he owe a shit ton of people money? Yes. But to me that’s all semantics. Because guess what? When you put 50 million dollars of your own money into anything and end up selling your own coin collection I don’t care what the fuck you do. Maybe that’s just the entrepreneur in me talking. But there is honestly nothing harder in life than putting up your own money to start something. That’s what Schilling did. Yeah he took money from RI too. Big deal. That’s RI’s fault for being idiots. It still doesn’t change the fact he risked his own neck and wasted all the money he made playing baseball. The easy thing to do would have been to do nothing. To sit and be a blowhard the rest of his life. But he didn’t. He tried to start a company and give a shit ton of people jobs. It blew up in his face, but nobody took it on the chin harder than him. So all the people whining about how they are owed a couple thousand bucks can shove it. Lose 50 million and then get back to me.
So he decided to be reckless with his money, that’s supposed to make people who got beaten out of money feel better? And yeah, i’m sure he started this company to give people jobs. He should have just used his dad’s money to start a company like you did, that’s the only way to go.
“So all the people whining about how they are owed a couple thousand bucks can shove it.
^don’t know what happened above
Putting all his eggs in one basket is wise when his one true skill he can’t do anymore? How does that make sense? I’d be angry too if I lost money on this
True, but what kind of idiot puts almost all of their net worth into one investment? I understand if maybe that’s 20k and you’re starting a business with the goal of becoming wealthy, but Schilling was already rich. Any advisor will tell you its foolish to put more that 10% into any single investment (especially a very risky one), much less 100% or close to it. He’s an egomaniac that got what he had coming. And yes, RI is stupid too.
RI is a joke. You know how many people I talk to EVERYDAY that are going bankrupt there? Them, along with NJ and MD are the reeason I have a job cause they’re all broke!
Curt Schilling is an arrogant asshole. He was so arrogant he risked 50 Million dollars of his own money.
I find more fault in the idiots who gave him the loan. $75 Million could have been spent in investing in a dozen diverse small businesses instead of one risky business. Lots of venture capital firms turned down financing for 38 Studios, maybe that was a good indicator that the experts in investments knew better.
Hey idiot not sure if you realize but those 450 people he gave jobs too, now have no jobs so tough to use that as part of your argument.
The $50 mm number came from Curt and let’s just say that I do not trust anything that piece of crap has to say. Now I am sure he put up a bunch of dough but I can’t wait to read the story from bankruptcy court in which his real contribution was far less.
He put the coins up for collateral, close but not the same thing.
Schilling looks like Seth Rogen in that picture.
When you start a company…. start small and grow… especially in video games…. don’t try to create some massive game…. hiring 450 people and going gung ho was just stupid. 450 people who never created a product.
I believe the majority of those from 38 Studios who are now unemployed
are MA residents, who will now be an additional drain on OUR economy.
People really believe this bullshit artist is broke now??? That’s fucking HILARIOUS. I guarantee Curt has a nice block of cash. He won’t be having anything like the tough life all of the people who worked for 38
@Dino Bravo — those people never would have had jobs without Curt.
throwing money into a video game company is a little different than throwing it into any other type of business venture.
He just thought he liked video games, he’s Curt Schilling, he’s got 50mil, it’ll work.
We would all love to be as broke as Curt Schilling at some point in our lives. There is NO way he dumped $50MM into this company of his own money. None.
Curt’s no different than Mark Brunell losing his net worth in the real estate market. I’ll put this in terms that Derek Zoolander can understand.
Just because you throw a baseball or football good does not mean you do business good. These guys are idiots.
Schilling is getting so much shit for this because 75% of his blowhard routine consisted of him talking about how the government shouldnt be giving handouts…and he took a massive handout and now a state government is fucked. hypocrisy 101. RI’s fault for being stupid? you bet. Schilling basically doing himself exactly what he’s been bitching about on EEI for years? fo sho.
schilling is a moron, ran that company into the ground. fired all the employees at the end and tried to recoup as much money as he possibly could. And yes, he sunk almost all of his money into it, because he is a financial assclown. Luckily, another studio picked up the 38 studios team in Baltimore, so basically the only one that got screwed was Schilling.
EZBreezy – right on the money. Businesses start and fail all the time, but after decades of railing against government and it’s ineptitude, it just has so much bullshit flavor to it. Fuck him, I hope he spends the rest of his life sitting at cards shows wearing a bad toupee and signing his name for peanuts
PREACH Pres! You’re absolutely right on about this.
I mean these employees and Shilling new the risks with this company, and they stepped up to to the plate.
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly; who errs and comes short again and again; because there is not effort without error and shortcomings; but who does actually strive to do the deed; who knows the great enthusiasm, the great devotion, who spends himself in a worthy cause, who at the best knows in the end the triumph of high achievement and who at the worst, if he fails, at least he fails while daring greatly. So that his place shall never be with those cold and timid souls who know neither victory nor defeat.” – Theodore Roosevelt