Over the summer, I partnered with someone I met to run a mineral rights auditing company that was inspired by our success in litigation financing. Was a huge time-suck.https://oilstub.com/
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Replying to @mgirdley @AndrewYang
I've launched 3 businesses. Everyone liked that one. Only one that failed.
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Replying to @mgirdley @AndrewYang
Yeah. It was universally adored. The other two were universally hated. Go figure.
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Replying to @mgirdley @AndrewYang
Yeah, it is super interesting. We took publicly available data (texas rr commission and tax data) and matched it vs. peoples' mineral rights check stubs to find discrepancies in what people were being paid vs. what the oil cos were reporting.
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We signed up two large clients. Found tons of discrepancies. Then we'd call the oil cos on their behalf. And they always had an explanation "not what the well-head says" or "oh we didn't sell it in the permian, it went to cushing, ok which had a lower spot price at the time".
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We didn't stop there (giving up is not my MO) and that's not the whole story, but that was a big problem we faced.
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Replying to @Molson_Hart @AndrewYang
Oh, yeah, the oil companies are liars. Check that :-)
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Replying to @mgirdley @AndrewYang
Was very frustrating!
8:45 PM - 13 Mar 2020
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