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You're leaving out the part about getting accepted into YC and then being willing to blackball your reputation and ability to ever raise money to do anything, a
by peteforde 16y ago
You're leaving out the part about getting accepted into YC and then being willing to blackball your reputation and ability to ever raise money to do anything, again.
Who would do that for $150k? To me, this is the equivalent of leaving $20 on the table to see if you can trust your friends.
- jacquesm 16y agoI'm fairly sure that they can afford lawyers good enough to close that particular loophole.
- hugh3 16y agoFair enough. I was just wondering whether there were any legal barriers built in to stop people doing these sorts of dodgy deals.
- peteforde 16y agoThe SEC or IRS would probably consider this some variation of conspiracy to commit fraud. I'm not an American, so I am guessing.
- brc 16y agoPretty sure the SEC is nowhere near these deals as all are private, probably under some type of 'sophisticated investor' rule anyway. IRS couldn't care who ripped off whom as long as they get their pound of flesh.