Overstock.com’s CEO Patrick Byrne is a man who enjoys his crazy in bulk. Although the company continues to grow year-to-year, Byrne is doing his best to dissuade investors from giving him any of their money to burn.
After a December 23rd call to investors, his company’s stock mysteriously took a dive, according to The Register
During the session, Byrne admitted to making up stories about being gay and a coke-head in the hopes of uncovering a mysterious group short-sellers led by a “Sith Lord.” These individuals allegedly engineered an intricate conspiracy to cripple Overstock. Part of the conspiracy included tapping Byrne’s phone calls and apparently some kind of spy ring.
We can’t imagine where investors’ insecurity might come from.
This isn’t the first time El Reg has taken a swipe at Overstock.com. That piece is worth reading not just for Byrne’s ramblings, but for its details about the sub-standard service some customers have been receiving as Overstock continues to grow.
Image appropriated from Business Week.