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Anyone else concerned about Ruiz's alleged net worth?

JD08 said:
I think there are two issues here.
1. Counting chickens before they're hatched. Once the deal's closed, the money's in the bank. So hopefully, the deal gets closed.
2. Having a public booster throwing money around gives people the shudders because of Nevin Shapiro.
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This. Spot on, @JD08. That's it. Lets not complicate things. Easy on the mental gymnastics, folks.
 
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Canesfreak said:
If the SPAC deal actually closes, he should be fine. SEC is currently reviewing the S-1. Again, the patent is unbelievable if it can work for large insurance companies - Humana, Blue Cross, etc. - it will save them hundreds of millions by avoiding double payments, overpayments, etc. Long term, I could care less how it works though - he will monetize it once it closes. Then it is up to the NewCo to generate revenue.
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It's nothing groundbreaking what he is proposing. It's already been done.

Yes, if he pulls it off under this aggregated structure... worth $B$$$ until Medicare/Medicaid/Tricare drop the hammer on beneficiaries. Private insurers have a vested interest in status quo (hiding/not mentioning their third-party insurance status) and MSP Recovery continues to chip away.
 
Empirical Cane said:
It's nothing groundbreaking what he is proposing. It's already been done.

Yes, if he pulls it off under this aggregated structure... worth $B$$$ until Medicare/Medicaid/Tricare drop the hammer on beneficiaries. Private insurers have a vested interest in status quo and MSP Recovery continues to chip away.
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Memphis Redbirds Pain GIF by MLB
 
i've said this before. he's bitten off more than he can chew in the past and was essentially bankrupt 7-10 years ago.

having said that, he bought a $45MM house on the water a few years ago and put a large chunk in equity. he's already made a ton of money from his claims litigaiton.
 
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itsacanething said:
This! I have been trying to tell you guys this guy is so brash and in your face with his money. to me this story could easily end badly for us.

you all think he is the booster we need. I say be careful what you wish for. I wonder what Rad and Mario think about his style - him and junior (who I can't emphasize enough is just a young kid who I think graduated UM like last year) appearing in almost daily twitter spaces. tweeting NIL deals every night. Suing the NCAA. I appreciate he is trying to help the program and using his hard earned cash to do it but you have to be careful with these things.
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Who cares as long as he’s helping our players & the University?🤷🏾‍♂️ U ppl complain about us needing to play with the big boys & we need NIL deals and then when we get sum1 to step up y’all worrying about how he get his money? Y’all MFs act like women I swear! Y’all gon complain about everything regardless! **** y’all Klowns need to get sum pwussy or sum. Stop counting another man’s pockets & worrying about how he getting his money! If Mario & the University isn’t worried then why should y’all be! Unless y’all can match what he’s giving to the players
 
PBJFanatic said:
This. Spot on, @JD08. That's it. Lets not complicate things. Easy on the mental gymnastics, folks.
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I for one do not care one way or the other if the Spac closes. For arguments sake accept his is rich and stadium aside has plenty of money he wants to spend on um. The in your face brashness to me is concerning and will bring scrutiny. Let’s hope they are beyond careful in doing this stuff and don’t tell me he is a lawyer blah blah. All of us Lawyers know being a lawyer doesn’t mean a guy is perfectly honest or doesn’t make mistakes.

At this point it doesn't matter what any of us say...he is going to do it his way.
 
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Canesfreak said:
If the SPAC deal actually closes, he should be fine. SEC is currently reviewing the S-1. Again, the patent is unbelievable if it can work for large insurance companies - Humana, Blue Cross, etc. - it will save them hundreds of millions by avoiding double payments, overpayments, etc. Long term, I could care less how it works though - he will monetize it once it closes. Then it is up to the NewCo to generate revenue.
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This. Maybe the SPAC deal doesn't close and he goes back to being a millionaire vs a billionaire, but if his business model is legit he could still be a billionaire someday, just not as quickly by going public in 2022. We'd all love the perfect silent partner booster type, but I'll gladly take a little machismo if it means we finally have the chance to be relevant again.

And the reality is that he makes his money by saving money for Medicare at the expense of auto insurers, etc. Seems like some politically solid ground to stand on if you're going to be active on social media, no?
 
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Listen to his segment on Joe Rose at 9am this morning. Good guy, good intentions and smart. This is no Nevin Shapiro. Unlike some lawyers he has done a lot of good in the past for the little guy with his class action lawsuits on behalf of the elderly and others.

www.law.com

How Ex-TV Lawyer John Ruiz Turned Millions into Billions | Daily Business Review

John H. Ruiz started in personal injury, moved to class action, identified a flaw in health care insurance payments and leveraged it to grow a multi-million dollar company. Now, thanks to a SPAC, he's set to earn much, much more.
www.law.com www.law.com
 
you can patent a process, but it's much more difficult to get that approved by the USPTO. Software by itself is not patentable subject matter, has to have a process or function to it. The protection more than likely on any code is Copyright or Trade Secret based I would imagine.
 
I understand people being scarred after Shapiro and him being so public about it but like someone said , how else is UM supposed to get the word out ? If he or someone connected to him is caught contacting recruits directly on behalf of UM “indirectly” to communicate potential NIL deals , wouldn’t THAT be more something the NCAA could step in on ? Doing it on a public forum , the NCAA can’t do **** . He’s a lawyer himself , and has already said his team and UM compliance have gone over every deal . So what’s the problem ?

Search “NIL deals” with any top school and google and you get all types of results of boosters and other companies setting up deals for players. There’s even an article about how Phil Knight was setting things up at Oregon for their players . I don’t see how this is different unless yal think Ruiz is dirty . He’s rich outside of the SPAC deal . If it doesn’t close I don’t see things just falling apart ; the stadium talk will probably die down tho

I think he’s more connected with the social media stuff than your typical booster simply because he has two young sons who probably guide him with it .
 
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Katzenboyer said:
Right. If the SPAC deal closes, it's really money. But it hasn't yet, and the valuation seems entirely unrealistic for that to actually happen.

Believe me, I want it to. I respect Ruiz and the niche he's found in the legal market. But it's just a niche; he's not sitting on some kind of technical revolution that will re-invent the practice of law, which is my main concern with the valuation numbers.

If those numbers were truly real, and not just funny money, why hasn't Kirkland & Ellis (a firm that actually does generate billions in revenue) go public via a SPAC? Why not Akerman? Holland & Knight? Debevoise & Plimpton?

It feels too good to be true.
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why haven't these firms gone public? because they cannot. a law firm cannot be owned by someone without a law license.

John is not selling part of his law firm. the SPAC involves a private company that identifies and owns the claims. his firm and others do the work that pursue the claim.
 
The man is explaining what they are doing and i like it. They are fans like us, u think they aint heard how broke and beat down Miami is, now they trying to change that perception and all i hear is crying. No, u cant say they are talking so they are doing something illegal. You have to find something tangible and bring it. He made a good point, when pro players sign contracts, they report the size of it, why should college be any different. Some of you are reaching.

If you are accusing them of something, do it, show proof or circumstancial evidence, if not shut up. They can say and do what they want in their public space. That's how i feel about it. Alot of the attacks on them has been unfounded, off base and unfair. It's not right. Same thing Rovell did. Everything Ruiz's did was legal. Texas A&M and Texas paying recruits, even Jackson State......that aint legal. Ruiz understand and explained as much. Rovell grouped us in with them and came after us and yall following along
 
supacane said:
The man is explaining what they are doing and i like it. They are fans like us, u think they aint heard how broke and beat down Miami is, now they trying to change that perception and all i hear is crying. No, u cant say they are talking so they are doing something illegal. You have to find something tangible and bring it. He made a good point, when pro players sign contracts, they report the size of it, why should college be any different. Some of you are reaching.

If you are accusing them of something, do it, show proof or circumstancial evidence, if not shut up. They can say and do what they want in their public space. That's how i feel about it. Alot of the attacks on them has been unfounded, off base and unfair. It's not right. Same thing Rovell did. Everything Ruiz's did was legal. Texas A&M and Texas paying recruits, even Jackson State......that aint legal. Ruiz understand and explained as much. Rovell grouped us in with them and came after us and yall following along
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Look, the bottom line here, wrapped up in a little nutshell, is that fans of this team are traumatized and beaten down. They don't know sh*t about sh*t when it comes to this topic, and they are just needing church. that's really all there is to it.
 
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Not sure why people are so bothered by his social media presence. He can do whatever he wants with his money and everything is perfectly legal. If they have a problem with, go fight the law.
 
I understand the concerns, but truthfully it's beyond our control disirregardlesslyness..no sense in worrying about it until something goes off the rails, which hopefully and ideally it won't.
 
The Svengali said:
I don’t trust anyone from Miami…especially anyone talking about money. Scamming is a full on industry down there.

But if the checks don’t bounce, then oh well.
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I agree with the first part but usually scammers are getting people to give THEM money. Ruiz is the one giving away the money.
 
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