I’m pleased to report that the first ever PDX Powerball Venture Capital fund returned earnings worthy of a Wall Street investment fund. With a generous $155 in initial capital, #powerballVC returned a stunning $9 in winnings!
After subtracting our promised 10%—or $0.90 —donation to the Legion of Tech, 31 #powerballVC fund members divide the remaining $8.10 equally to earn a whopping $0.26 each for their original $5 investment—a healthy -94.8% profit!
If you are among the lucky 31 #powerballVC fund founders, please tweet me your vote for how we should invest the fund’s current $9 capitalization:
- Let it ride (ie, buy $9 worth of Powerball tickets for the next drawing)
- Liquify (ie, buy a pitcher of beer for LoT board members at the next LoT Happy Hour)
- Get out now (ie, collect your 26¢ before the market crashes)
For anyone who’s interested, 3 out of our 155 powerball tickets won $3 each by matching 29, the powerball number for the Sat 27 Sep 2008 drawing. If anyone wants to look over the remaining 152 losing tickets to double check for other winners, let me know.
This post may be more true than what we think—with the financial condition and all—but I say “liquify!” Not that I have an actual stake on it—but still.
Umm, buy a pitcher of beer. Ya gotta get SOMETHING out of the whole deal.
At least ya got $9 bucks back. So I vote for #2, it’s a selfless vote, since I don’t think I am in the LoT yet, but somebody ought to get something out of it. :)
They saw market investment is like gambling, maybe it should be more aptly named, "the race track" or something. Instead of "Wall Street" we could call it "Race Track Market" or something?