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Anyone else concerned about Ruiz's alleged net worth?

Gables Cane said:
He is too much of a "look at me" booster. I much prefer the "let me work behind the scenes" kinda booster. You know...the kind that belong to the SEC top dogs and have quietly paid players for years without getting in trouble.

Times have indeed changed but this story might not end well. In the meantime, enjoy the ride 'cuz it will get bumpy.
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If I ever get rich, I will pay for all top football and basketball recruits. But you better believe I'm gonna be a "look at me" booster if I'm paying millions for us to win.
 
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Katzenboyer said:
What's the issue? Where am I wrong?
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You don’t understand the business model. Any ******* can buy and chase claims. The business advantage is getting large data sets, mining them, and only taking winners. The analytics he developed is where the money is made as it sorts **** claims from winners. We all know he gets a percentage of recovery. The key is picking which ones to chase.

Think about debt collectors. Credit card company has a bunch of deadbeats. Debt collectors buy claims for x% and try to recover more than X. No imagine you develop advanced data tools that let you identify which debtors you are likely to actually collect from. Your competitors do the same thing but your software is better. Who makes more money?
 
Redstate12 said:
That was my feeling. We literally boasting about cashing IOUs. I retype this reply 6 times trying not to be too negative I will leave it at that.

I very well could be wrong about them and I hope I am. Truly.
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Words of wisdom:
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We the Boss said:
You don’t understand the business model. Any ******* can buy and chase claims. The business advantage is getting large data sets, mining them, and only taking winners. The analytics he developed is where the money is made as it sorts **** claims from winners. We all know he gets a percentage of recovery. The key is picking which ones to chase.

Think about debt collectors. Credit card company has a bunch of deadbeats. Debt collectors buy claims for x% and try to recover more than X. No imagine you develop advanced data tools that let you identify which debtors you are likely to actually collect from. Your competitors do the same thing but your software is better. Who makes more money?
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All of that is on point, and we're in agreement on it. But I was responding to the comments that Ruiz owns some kind of patent on a proprietary software/tool that identifies valid claims that he's selling to the market at large. That's not the business.

Again, I have no doubts that Ruiz has an edge on the competition because of his analytics. My concern (and I've been pretty consistent about it) is that at the revenue numbers him/Lionheart Capital are projecting, coupled with his admission that he takes a 20% cut, he'd effectively need to identify $175 billion worth of claims in the next five years. I don't think that's at all realistic.

He'll make money if the company goes public. And I think he'll be able to help the program with the NIL deals that he's handing out moving forward, because he's already independently wealthy. But I don't think the model his company uses can support the billionaire label being thrown around, I have grave concerns about Lionheart, and I'm worried this blows up in the Canes faces if it goes beyond the Lifewallet/NIL stuff he's doing now.
 
Katzenboyer said:
All of that is on point, and we're in agreement on it. But I was responding to the comments that Ruiz owns some kind of patent on a proprietary software/tool that identifies valid claims that he's selling to the market at large. That's not the business.

Again, I have no doubts that Ruiz has an edge on the competition because of his analytics. My concern (and I've been pretty consistent about it) is that at the revenue numbers him/Lionheart Capital are projecting, coupled with his admission that he takes a 20% cut, he'd effectively need to identify $175 billion worth of claims in the next five years. I don't think that's at all realistic.

He'll make money if the company goes public. And I think he'll be able to help the program with the NIL deals that he's handing out moving forward, because he's already independently wealthy. But I don't think the model his company uses can support the billionaire label being thrown around, I have grave concerns about Lionheart, and I'm worried this blows up in the Canes faces if it goes beyond the Lifewallet/NIL stuff he's doing now.
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invaluable information and analysis. you may need to report the clarity re the patent and the 20% about a hundred more times because people generally don´t read the messages on the message board, which is ironic given that it is a message board.
 
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In my opinion it's fishy this guy comes out of left field after Manny gets fired. Not sure how long he has been behind the scenes. It seems to me like he is trying to treat UM football as his own franchise in a way. He is paying over a million a year to the players I'm sure. Plus he is talking about building a stadium pretty much by himself. Arguing on Twitter every day and way to flashy. It is just way to much to soon.. If he has been this passionate about UM football, what took so long to take the action he has taken. with the time is now
 
skeeper said:
The structures of SPAC's are scams to public investors.

You tell me, DKNG will soon break IPO price, will eventually be a single digit midget. The bubble is over, cryptos will soon follow. Fed can't help now.
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It's not just DKNG, it's the whole gaming industry that took a hit and more pain is coming their way. DKNG was the poster child for SPACs, Harry Sloan and company did a fair deal bringing them to market. DKNG management ran them into their share price now along with market conditions. CZR, MGM, PENN, RSI, GNOG all are getting slaughtered in the online gaming industry. Everything cycles and money rotated out of online gaming into other sectors such as EVs which will rotate into something else. Tech stocks about to get slaughtered but to say every SPAC is a scam is ridiculous.
 
MasterBlaster said:
It's not just DKNG, it's the whole gaming industry that took a hit and more pain is coming their way. DKNG was the poster child for SPACs, Harry Sloan and company did a fair deal bringing them to market. DKNG management ran them into their share price now along with market conditions. CZR, MGM, PENN, RSI, GNOG all are getting slaughtered in the online gaming industry. Everything cycles and money rotated out of online gaming into other sectors such as EVs which will rotate into something else. Tech stocks about to get slaughtered but to say every SPAC is a scam is ridiculous.
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Have spent 30 years in the equities market, they were doing SPAC's in mid-90's. Tons of fees and options/warrants.

Maybe scam is harsh - how about crappy structure for public investor that often comes out on losing end, and insiders and bankers make all the money (which to me is a scam).

They only work in really frothy, bubble type markets like we've been in till lately.
 
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Katzenboyer said:
Before going any further, I'm absolutely loving what the guy is doing for the program, and hope that it continues. This isn't an attempt to **** on a guy who clearly loves the Canes and is doing all he can to make UM into the power it was in its heyday.

But...is anyone else worried that it's funny money? For reference, I'm talking about this article, that came out in December (think it's behind a paywall). https://www.law.com/dailybusinessre...wyer-john-ruiz-turned-millions-into-billions/
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The only reason I would worry about Ruiz's net worth is if he owes me money. Let me check.
 
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skeeper said:
Have spent 30 years in the equities market, they were doing SPAC's in mid-90's. Tons of fees and options/warrants.

Maybe scam is harsh - how about crappy structure for public investor that often comes out on losing end, and insiders and bankers make all the money (which to me is a scam).

They only work in really frothy, bubble type markets like we've been in till lately.
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Fair enough, only bought online gaming and EV SPACs and research the **** out of the merging company ahead before investing. I made good money on most and cut losses on only a couple. You're 100% correct about the SPAC bubble bursting, I still own 1 EV SPAC and 1after merger, they are long holds for me. I wouldn't touch any other SPAC right now for sure and just going to sit on the sidelines for a while, it's about to get ugly.
 
If Ruiz wealth "collapses," gonna be a load of disappointed/demoralized players. Are they receiving his payments now?
 
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Katzenboyer said:
invaluable information and analysis. you may need to report the clarity re the patent and the 20% about a hundred more times because people generally don´t read the messages on the message board, which is ironic given that it is a message board.
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I’ve worked with these data sets in the past, I don’t see how anyone can validate the legitimacy of the data mining tool at that scale. Most of these claims are very nuanced and require a lot of labor to recover even with perfect information.
 
Katzenboyer said:
Before going any further, I'm absolutely loving what the guy is doing for the program, and hope that it continues. This isn't an attempt to **** on a guy who clearly loves the Canes and is doing all he can to make UM into the power it was in its heyday.

But...is anyone else worried that it's funny money? For reference, I'm talking about this article, that came out in December (think it's behind a paywall). https://www.law.com/dailybusinessre...wyer-john-ruiz-turned-millions-into-billions/

The parts that concern me:



So the company currently doesn't generate any revenue ($800 million in investor funds is not revenue, FWIW), but it's expected to generate $3 billion in revenue next year? And $23 billion in five years? That's pie-in-the-sky stuff.

The other issue is Lionheart Capital, the firm that set up the special acquisition company (SPAC) that is currently valuing MSP Recovery in the billions. Lionheart's (and its CEO, Ophir Sternberg) main claim to fame is that it brought BurgerFi public using the same SPAC it's using to make Ruiz a billionaire. But BurgerFi's founder is suing Lionheart and Sternberg in Miami-Dade, and there are a bunch of other lawsuits against the company for misleading investors (or outright stealing investor money) over the course of the last few years (just do a simple docket search on the Miami-Dade Clerk of Courts; there are a LOT of pending lawsuits against the company and Sternberg individually).

Am I missing something? It just seems to be too good to be true.
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This is why we can't have nice things.
 
skeeper said:
Have spent 30 years in the equities market, they were doing SPAC's in mid-90's. Tons of fees and options/warrants.

Maybe scam is harsh - how about crappy structure for public investor that often comes out on losing end, and insiders and bankers make all the money (which to me is a scam).

They only work in really frothy, bubble type markets like we've been in till lately.
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Isn't the highlighted how it always works?
 
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