When speaking publicly, people will usually tell you what (they think) you want to hear
When someone publicly says it’s not about the money, what’s the safest bet?
It’s about the money.
That’s not cynicism, that’s just pattern recognition. Public statements are usually crafted for effect. They’re meant to play well with fans, reporters, or shareholders.
Which means they’re often more about signaling virtue than revealing truth.
Take the recent Micah Parsons contract saga. More than once, he said it wasn’t really about getting the most money. He tried to keep the focus on fairness, team, legacy. All fine words.
But the outcome? He landed the highest average salary in NFL history for a non-quarterback.
Record deal. Short enough term that, if he stays healthy, he could cash another monster contract in a few years.
So yes, it was at least a little about the money.
And good for him—he’s got a limited window to earn, and he’s maximizing it. That’s smart.
The same thing shows up outside of sports.
The Dallas Morning News insists it’s in the journalism business. On the surface, sure. But scratch it and you see a company really in the advertising and engagement business.
And lately? It’s been in the business of selling itself.
Shares were trading in the $4s. Hearst swooped in with a $16.50 offer—quadruple the price. Then another buyer stepped up with $20. Even better, right? Except the board recommended sticking with Hearst’s lower number.
Don’t know why, could be good business reasons for that, I don’t have time to look.
Cue the noble public statement from Robert Decherd:
“I have long since ceased to view my holdings…as a financial asset. My sole objective is sustaining the journalistic quality and civic responsibility of the News.”
Sounds lofty. But it also raises the obvious question: if it’s not about the money, why sell at all?
Because it’s not really about journalism.
That doesn’t make them villains. It just means you have to be clear-eyed about what game people are actually playing.
I’ve said before, I’m not really in the brokerage business. I’m in the trust business. The difference is, I know what business I’m in. And maybe it’s self serving to play that up, but I think it’s important to know.
Is it crazy to align with people who know who they are and where they are going?
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