Patagonia. I will continue to buy their stuff...

[Core Shot]

Heh.

I’m still not sure how he grew such a large biz that he didn’t want.
Damned impressive.

[XXX-er]

obviuosly he fucked you over so completely you didnt even realize it

you could read his book ( now in > 10 languages ) to find out but then you would just be giving him mo money

[dunfree]

I had a feeling there was something else going on as well...

"Still, the moves mean Chouinard won't have to pay the federal capital gains taxes he would have owed had he sold the company, an option he said was under consideration. On a $3 billion sale, that bill could be more than $700 million. It also helps Chouinard avoid the US estate and gift tax, which is a 40% levy on large fortunes when they're transferred to heirs. "

" Chouinard's move evokes a similar transfer done last year by a Chicago billionaire supporting starkly different causes.

Electronics manufacturing mogul Barre Seid donated his company Tripp Lite to a 501(c)(4), Marble Freedom Trust, which then sold the business for $1.65 billion, sparing Seid from paying capital gains taxes on the transaction. The organization is led by a conservative activist whose activities helped cement the conservative dominance of the US Supreme Court and counter abortion rights, voting rules and climate policy. "

" It's unclear to what extent Chouinard's Holdfast nonprofit will get involved in politics, since the issue of climate change is broad and could entail lobbying for legislation or apolitical charitable work, Harrison said.

"Battling climate change can mean a lot of things," she said.

With a historically polarized government leading to repeated stalemates on legislation, it's likely that more billionaires will see 501(c)(4)s as the most expedient way to ensure their policy aims and charitable intentions outlive them."

its sad that made Bloomberg business, seems more Bloomberg opinions caliber

patagonia - cofounder/long time owner donates company to charity controlled by he/his circle with stated intention to use profits from profitable business (so for the purpose of this thread, clothing and shit people pay $$$ for) to fund charity on an ongoing basis

evoked counter case: shortly after acquiring 100% stake, guy decades younger than company donates it to charity controlled by someone else, who then flips the business to a mega corp for cash so they can do what they wants. Totally samesies!

[Core Shot]

I have “let my people surf”
Trying to find it so my kids can read it.

It was a good read and very enlightening

I might have to reread it myself.

Best I can recall is trust your team and let them lead.

[jackstraw]

I have “let my people surf”
Trying to find it so my kids can read it.

It was a good read and very enlightening

I might have to reread it myself.

Best I can recall is trust your team and let them lead.

It's a great book. I should read it again also. I remember when they almost went under and learned a valuable lesson in growth strategy and if I recall correctly, cash flow.

The other good business book is - Everything I Know About Business I Learned from the Grateful Dead.

Similar in the way that neither really intended on growing a "business", but they both produced a great product (with hard work), had good values, and their success just happened despite actually starting out with the intention to do so.

[XXX-er]

I remember him say something along the lines " everytime they told me not to do something I did it any way cuz it was the right thing and we saved money "

or maybe it was " I did it cuz it was the right thing and we made money "

[mrkbrnblm]

What others said... arguing that he gave away the $3B company out of a selfish ulterior motive to avoid the $700M in taxes is entirely illogical. Sure, that means he gave away something that to him was worth a net $2.3B, but he still gave away $2.3B.

What's different from the Marble Freedom Trust example is that MFT is not operating Tripp to generate earnings that can be reinvested in charitable causes. They just sold the company and harvested the maximum out of the company's value to turn into a one-time donation for the MFT. The alternative would have been for Lenny Leo to sell Tripp, pay the capital gains taxes, and give the net to MFT. By donating the company and having MFT make the sale, he dodged the taxes and maximizes the donation to MFT.

Patagonia's trust, I believe, will not be able to sell the company and harvest the value as a one-time donation.

[ex-powderbroker]

Nice little essay by Tom Brokaw on his friend:

https://archive.ph/QU1qa

[alpinevibes]

I just finished reading Rick Ridgeway's book Life Lived Wild this week. Great book with pretty amazing stories throughout his life, many with Yvon and Doug Tompkins. Interesting timing with all the Patagonia hubub. The more you read and dig into these guys, the harder it is to not like and respect them.

The bullshit spewed on the Padded Room thread is just downright laughable - Yvon (and Doug before him) desired to make the best products, sell them in a responsible way, improve their industries, eschew capitalist norms and ultimately disperse their wealth back to the world and protecting it. If that isn't considered admirable in this era (or any era), what is? Only the life of a monk?

[Benneke10]

The bullshit spewed on the Padded Room thread is just downright laughable - Yvon (and Doug before him) desired to make the best products, sell them in a responsible way, improve their industries, eschew capitalist norms and ultimately disperse their wealth back to the world and protecting it. If that isn't considered admirable in this era (or any era), what is? Only the life of a monk?

I have the utmost respect for everyone you mentioned, but idolizing the super rich can be dangerous. Yvon is as close to a perfect businessman as you could imagine but Doug is more complicated. He often didn't treat his workers very well, and disgruntled Esprit workers burned down his factory in the 70s https://www.sfgate.com/sf-culture/ar...d-16770312.php

[dunfree]

You don’t have to idolize JD Rockefeller to like Grand Teton National Park, nor do you have to idolize Tompkins to like parque pumalin

[alpinevibes]

I have the utmost respect for everyone you mentioned, but idolizing the super rich can be dangerous. Yvon is as close to a perfect businessman as you could imagine but Doug is more complicated. He often didn't treat his workers very well, and disgruntled Esprit workers burned down his factory in the 70s https://www.sfgate.com/sf-culture/ar...d-16770312.php

I personally don't idolize them for their wealth, but rather for living with intention, putting their money where their mouth is and existing in a somewhat modest reality, despite their potentially-available resources. They are both cavalier dreamers with special skills at design and realization of products. I don't fault them for following their dreams and pursuing the creation of great products. Clearly Yvon has always struggled with the larger success of his brand and the globalization it transitioned too. Doug's time with Espirit was ascendant, until it wasnt, but I get the sense that he changed a lot from the laste 90s onward. To me, the reality is: someone is going to sell clothing because we, as consumers, will all buy it. And 99/100 people selling those clothes from big companies aren't going to do shit with their profits, wealth or company resources in comparison to what Doug and Yvon have done.

While it's easy to categorize someone's supposed wealth/net worth as their actual reality, it's important to differentiate how they live their lifestyle, how they spend their money and what they're doing with the rest of it. Yvon doesn't live a billionare lifestyle; he doesn't want his kids too; he doesn't want anyone too. From what I know, Doug was spendy on his south american pursuits and had lived a nice life in SF before that, but ultimately finished his life on giving his money and land away. Even Doug's socialite daughter spent years trying to sue her way into an inheritance when Doug left her nothing at her death. Sure, both Dough and Yvon lived and supported their families with *plenty* of money, but they were far from lavish, wealthy guys.

I work for a school with dozens of $10M-$10B net worth types; i know them, i know their lifestyles - none of them are going beyond the regular amount of giving/philanthropy to detach themselves from their wealth, like these too have. It comes down to setting an example and living out your values. Doug and Yvon have done it. I'm still looking for someone else who really has [in a similar financial reality] done something similar that gives credence to faulting Doug and Yvon for their decisions. Gates and Buffett, at a much higher plane, are on a good trajectory, but it's not like they're detatched from their billions.

[Core Shot]

You don’t have to idolize JD Rockefeller to like Grand Teton National Park, nor do you have to idolize Tompkins to like parque pumalin

I despise Rockefellers.

But damn. GTNP is awesome. It makes me despise them 10% less.

[Benneke10]

It comes down to setting an example and living out your values. Doug and Yvon have done it. I'm still looking for someone else who really has [in a similar financial reality] done something similar that gives credence to faulting Doug and Yvon for their decisions. Gates and Buffett, at a much higher plane, are on a good trajectory, but it's not like they're detatched from their billions.

Well said. I think Gates and Buffett are still selfish pricks while Doug and Yvon both generally tried to make the world a better place.

[Beaver]

My wife bought a Patagonia coat in 1987 embroidered with McGill Swim Team. Fast forward to this week. My daughter had borrowed it to wear as her winter coat at Dalhousie and the zipper blew out. She contacted Patagonia who asked if she had proof of purchase, "No, it's 38 years old." Well, they're fixing it for free and repairing a small rip as well. Holy shit. I'll buy Patagonia again and again!

[Dexter Rutecki]

McGill made its swimmers pay for jackets?

But yeah, Patagonia is great. Just warrantied a broken zipper on a micropuff. It did take awhile...two months? Maybe a bit more. But no questions asked, etc.

[Tony911]

Ive worn Arcteryx for 20 years and always thought Patagonia was a little too "fashion"

Well now Im buying Patagonia and some RAB, Arcteryx is turning into a joke.

They have changed the sizing and despite them saying they aren't trying to be street fashion, one look at the models on the website makes that obviously a lie.

Most of those models are not real human size and I would bet the farthest outside most of them have been is from their apartment to a cab.

I don't want to sound racist but Arcteryx is definitely the new North Face to the Asian crowd.

Love the Patagonia down sweater and goretex ski pants and jacket I have bought.

[MakersTeleMark]

Ive worn Arcteryx for 20 years and always thought Patagonia was a little too "fashion"

Well now Im buying Patagonia and some RAB, Arcteryx is turning into a joke.

They have changed the sizing and despite them saying they aren't trying to be street fashion, one look at the models on the website makes that obviously a lie.

Most of those models are not real human size and I would bet the farthest outside most of them have been is from their apartment to a cab.

I don't want to sound racist but Arcteryx is definitely the new North Face to the Asian crowd.

Love the Patagonia down sweater and goretex ski pants and jacket I have bought.

https://new.reddit.com/r/LeopardsAteMyFace/

[jackstraw]

Ive worn Arcteryx for 20 years and always thought Patagonia was a little too "fashion"

Clearly you're young. Pata was never "fashion" or "trendy" until the 90's at some point. Prior it was mostly people who actually used the stuff and beat the shit out of it.

[yeahman]

I still buy nanopuffs and down sweaters from Patagonia. Great products. I like their thermal weight baselayers too. As far as their ski pants and shells, they're too expensive. Flylow is a much better deal.

[Tony911]

[QUOTE=jackstraw;7022895]Clearly you're young. Pata was never "fashion" or "trendy" until the 90's at some point. Prior it was mostly people who actually used the stuff and beat the shit out of it.[/QUOTE

Clearly your wrong unless 64 is young.
Lets see, 20 years ago was near late 90's, lets split hairs on chronological references.
Maybe it wasn't trendy where you live but it was in Toronto for a long time.

[Conundrum]

Not buying something because it was trendy, now not buying something because it’s becoming trendy, to buy something that continues to be trendy. Baffling.

[Danno]

Clearly you're young. Pata was never "fashion" or "trendy" until the 90's at some point. Prior it was mostly people who actually used the stuff and beat the shit out of it.

Clearly your wrong unless 64 is young.
Lets see, 20 years ago was near late 90's, lets split hairs on chronological references.
Maybe it wasn't trendy where you live but it was in Toronto for a long time.

Couple of old farts arguing about whether patagucci became trendy 20 or 30 years ago.

[Bunion 2020]

X-post. Patagonia sent me an e-mail reminding me that I had a $ 175.00 credit. I had totally spaced that. Now I can afford 3 new mid-weight bottoms at 69.00 a pop. Or a new R1 Balaclava for 49.00.

As far as their ski pants and shells, they're too expensive. Flylow is a much better deal.

I endorse this message

[cravenmorhead]

Don't forget about their Worn Wear site for the expensive stuff. I haven't paid retail for Patagonia in a long time. And they'll still repair their Worn Wear stuff.