As far as I can tell, the best way to understand Chelsea's present strategy is like this:
- arrange for all the hookers and blow for the school year
- be surprised when others' pledges for these purposes come up short
- sell assets to cover the immediate cashflow deficit, leaving deep remaining debts
- learn nothing
- acquire more hookers and blow to cover the worst of the university wastrels' desires
- fail at being a collection company again
- ask Dad for a loan
- be surprised when Dad explains precisely where you and your business model can stick it
- go under
I'm not clear on how one gets to be a billionaire while learning nothing from this experience, but it appears to be what is happening.