When money is cheap, it’s easy to be optimistic about assets with dwindling or no cash flow. Near-zero interest rates inspired some to buy art or bitcoin. Billionaire Charlie Ergen staked Dish Network’s future on wireless spectrum, a decision looking worse by the day.
Roelof Botha, venture capitalist of Sequoia Capital, speaks during Reuters Global Technology Summit in San Francisco, June 18, 2013.
NEW YORK, July 31 - When money is cheap, it’s easy to be optimistic about assets with dwindling or no cash flow. Near-zero interest rates inspired some to buy art or bitcoin. Billionaire Charlie Ergen staked Dish Network’sThe satellite operator has spent some $25 billion since 2008 acquiring the finite resource used to carry data. Its balance sheet now bulges with about $21 billion of debt; $5 billion of it comes due in 2024 and 2025, according to Refinitiv.
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