“In 2021, when a lot of people I work with had big exits, cash was paid 30 basis points.”
AK
Adam Katz
Moneywise ·
Supreme Court of Canada Hearings (English Audio) · Cold Ocean Salmon Inc. v. Nova Fish Farms Inc. (42032)
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paid $30,000 to the government for license application fees in 2021
$30,000
“In 2021, when a lot of people I work with had big exits, cash was paid 30 basis points.”
“At 65 years old, if you paid 3% in fees, you got $432,000. If you paid 1% in fees, your $100,000 went to $761,000.”
“Luckily enough, I got paid well and also helped fund the $100,000 legal fees along the way back then”
“I was literally in 2021, I was holding 80 to 90% cash just saying, listen, I'm not going to give this government my money and lend it to them for 10 years at 50 basis points.”
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