Patrick Byrne, CEO of the online retailer Overstock, resigned today. The story behind it is too bizarre and convoluted to rehash, but this New York Times’ version will give you a good overview of recent events. Over the years,Byrne and his social media sidekick Judd Bagley staged vicious attacks on the reporters who didn’t buy their conspiracy theories. They were effective enough that a star of financial journalism once told me it wasn’t worth writing about Byrne because of all the grief he put reporters through.
The amazing thing is that a guy like Byrne would last so long running a public company while ranting about “Sith Lords,” nefarious short sellers and shifty operators in the Deep State. Check out this story that I wrote about the company 12 years ago. (And yes, this set me up as a Byrne/Bagley target). Continue reading