She Bets Her Life

A writer and former compulsive gambler reflects on women and addiction.

You're a smart tech junkie - the dealers are smarter

Goldman Invests in Facebook at $50 Billion Valuation

You're no fool.  You were outraged at the Goldman Sachs bail-out. And when you learned that "Goldman Sachs bosses are to pick up $111 million in bonuses in an 'outrageous' pay deal that flies in the face of the worst recession for 80 years."  from Mail Online and that Goldman Sachs was offering its clients a chance to invest in Facebook, you jumped on Facebook to tell all your "friends". You felt like you were making a bold statement.   

You wrote that the investment banks' chief executive Lloyd Blankfein and president Gary Cohn will get $24 million each, the bonuses set up in 2008 before Goldman took $10 billion of U.S. bailout money.  Because of technicalities nobody can stop GS from paying them out.

And now?  Goldman Sachs offers its clients a chance to invest in Facebook.  Huh!  Fancy that!  (Warning, young'uns, an old-timers quote follows.)  As one of the Monty Pythons said, "I don't fancy that at all!"

Three of your hundreds of friends posted a comment.  Twenty people clicked "like".  You logged off Facebook, wondering why you felt strangely empty.  So you checked your e-mail. 

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What's all this got to do with women and addiction?  What's all this got to do with you?  I can't answer that question.  You can. What I do know is that the seemingly unbreakable strands of a web are tightening. The powerful are consolidating their power.  And you and I are paying them to suck us dry.  (Apologies to any honorable spiders who may be offended by the simile.)

What will it take to break free from the web?  Exactly that which is required to step out of addiction. You know what that might mean for you.

A little hope:  I went off Facebook a few months ago.  I lost no true friends.  All I lost was wasting hours of my time.  But then, I'm a junkie for anything that will distract me from my abundant life...  And you?


"Western laziness consists of cramming our lives with compulsive activity, so that there is no time at all to confront the real issues."  ---Sogyal Rinpoche


 New York Times: "Goldman Offering Clients a Chance to Invest in Facebook



Tony Avelar/Bloomberg News

The deal could double the personal fortune of Mark Zuckerberg, Facebook’s co-founder.

12:42 p.m. | Updated

Goldman Sachs has reached out to its wealthy private clients, offering them a chance to invest in Facebook, the hot social networking giant that is considering a possible public offering in 2012, according to people familiar with the matter.

On Sunday night, a number of Goldman clients received an email from their Goldman broker, offering them the opportunity to invest in an unnamed “private company that is considering a transaction to raise additional capital.” Another person briefed on the deal said that Goldman clients would have to pony up a minimum of $2 million to invest and would be prohibited from selling their shares until 2013.

A Goldman spokesman declined to comment."


NY Times link:


Mail Online link: Heroin image from Mail Online 




Mary Sojourner, M.A., is the author of She Bets Her Life: A True Story of Gambling Addiction (Seal Press/ April 2010) and Going Through Ghosts (U.Nevada Press, 2010).


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