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What kind of a knucklehead: --takes in ~$600k before a corporation is formed? --puts it into the account of a diesel mechanic, with no financial backgroun

What kind of a knucklehead: --takes in ~$600k before a corporation is formed? --puts it into the account of a diesel mechanic, with no financial background? --relies on the mechanic's "assurance" that he will hold the money "in trust"? --when the theft is found fails to make a police report? --fails to immediately sue to seize the house paid for with the stolen money? And what kind of idiot: --makes a Youtube video in which he admits to stealing the money? Are the Crown prosecutors in Saskatchewan all on extended vacations? Assuming that lawyers in Saskatchewan are half-brain dead--the only possible explanation here--the lawsuit to seize the house should have been filed the day after the thieving mechanic failed to make a scheduled restitution payment. This is the problem with Kickstarter: vast funds are given to amateurs who are clueless when it comes to how to run a company.

petra 10y ago
>> vast funds are given to amateurs who are clueless when it comes to how to run a company. I wonder - in the same way that are services that simplify everything else about making and selling products - would something like an affordable/scalable company creation platform would be possible to build ?
- ericathegreat 10y ago
  You mean, like Atlas? https://stripe.com/atlas https://stripe.com/atlas
  - pseingatl 10y ago
    Here's the problem with Atlas: --While a US bank account is key; there are major KYC issues here. --For $500 you get 1. a corporation 2. a bank account 3. a Stripe merchant account. Since you might pay $500 for a corporation alone; this is a good bundle. --You get "access" to PwC (Price Waterhouse Coopers) and Orrick, a local law firm. If you have the telephone number of these two entities you already have "access." What "access" otherwise means isn't clear. If PwC are going to provide bespoke accounting and start-up legal service at a rate discounted through Stripe, you're not getting much of a bargain. I'd be more confident if they laid out exactly what accounting and legal services Atlas is going to broker. After all, for start-ups none of this stuff is rocket science--it's all forms and software. But other than tax preparation, do you also get PwC's consulting services? And if so, how much? And will these services be discounted too? Who is the partner in charge? What are the lines of communication among start-up=>Atlas=>PwC? PwC will surely represent start-up's competitors--will they agree to Chinese Wall their services? Finally, I won't address ethical issues here (attorneys referral service, conflicts of interest, etc.) because it seems that these haven't gotten Atlas' attention. There will be push-back, which they may or may not be able to resist.
stephenr 10y ago
> vast funds are given to amateurs who are clueless when it comes to how to run a company sounds like a good number of VC funded startups.

petra 10y ago

>> vast funds are given to amateurs who are clueless when it comes to how to run a company. I wonder - in the same way that are services that simplify everything else about making and selling products - would something like an affordable/scalable company creation platform would be possible to build ?

ericathegreat 10y ago
You mean, like Atlas? https://stripe.com/atlas https://stripe.com/atlas
- pseingatl 10y ago
  Here's the problem with Atlas: --While a US bank account is key; there are major KYC issues here. --For $500 you get 1. a corporation 2. a bank account 3. a Stripe merchant account. Since you might pay $500 for a corporation alone; this is a good bundle. --You get "access" to PwC (Price Waterhouse Coopers) and Orrick, a local law firm. If you have the telephone number of these two entities you already have "access." What "access" otherwise means isn't clear. If PwC are going to provide bespoke accounting and start-up legal service at a rate discounted through Stripe, you're not getting much of a bargain. I'd be more confident if they laid out exactly what accounting and legal services Atlas is going to broker. After all, for start-ups none of this stuff is rocket science--it's all forms and software. But other than tax preparation, do you also get PwC's consulting services? And if so, how much? And will these services be discounted too? Who is the partner in charge? What are the lines of communication among start-up=>Atlas=>PwC? PwC will surely represent start-up's competitors--will they agree to Chinese Wall their services? Finally, I won't address ethical issues here (attorneys referral service, conflicts of interest, etc.) because it seems that these haven't gotten Atlas' attention. There will be push-back, which they may or may not be able to resist.

stephenr 10y ago

> vast funds are given to amateurs who are clueless when it comes to how to run a company sounds like a good number of VC funded startups.

What kind of a knucklehead: <p>--takes in ~$600k before a corporation is formed? <p>--puts it into the account of a diesel mechanic, with no financial backgroun

What kind of a knucklehead: <p>--takes in ~$600k before a corporation is formed? <p>--puts it into the account of a diesel mechanic, with no financial backgroun