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It seems to me like the bidding for Skype. Microsoft won by doubling the highest bid from any other organization. Sometimes it's not about the object. Sometimes it's having more cash than anyone else and making a point.
Yeah, that's a bad analogy now that I think about it.
Maybe another way to look at it is playing poker. Sometimes you're in a Texas Hold-Em game and you are way ahead in chips. You decide that you're going to just make sure that you win the pot at any cost. You may have shit cards. So you bluff the crap out of people that have very little to win but a lot to lose. You win the pot with say, your $10,000 bet. But you only actually win $500.
"We're living in a world of funny money," says Ross. "And money is not really a measure of anything anymore because ... it's thrown around in such unpredictable ways."
That particular quote enrages me. These are the people demanding even more money stay their pockets through tax breaks for the rich, while the rest of the economy is struggling to keep a head above water.
Let's look at this a different way... The person who bought the painting could have, oh, I don't know, taken 4 million and funded a program that actually did some good in the world.