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It's fraudulent to raise money and make the statements Alphabet has been making if there's no path to profitability in the next decade. I'm guessing you have a
by anoncareer0212 7y ago
It's fraudulent to raise money and make the statements Alphabet has been making if there's no path to profitability in the next decade. I'm guessing you have a more limited proposition (won't be a profitable passenger carrier in next decade) and more perfect information on that (no way it can work in rain or snow; fixed cost of mobile compute > $XX,XXX)
- BigBubbleButt 7y agoIt's not fraud, it's just a bad investment. Unless Waymo is saying "we guarantee to have this technology doing this impossible thing and making a trillion dollars in revenue in 5 years" there is nothing illegal about it. Being disingenuous is almost never the same thing as fraud. By simply prefacing each statement with "we hope to" it removes legal liability. It's not illegal to be optimistic. Staging demos where the cars perform better than average isn't illegal, it's just misleading. Likewise, making projections about revenue isn't illegal, it's just not grounded in reality. I'm not accusing Waymo of fraud. I'm saying their technology isn't going to be ready anytime soon, and they aren't making any legally binding statements to refute that - so why would it be fraud?
- KKKKkkkk1 7y agoJust for fun I looked up the dictionary definition of fraud. fraud, n., wrongful or criminal deception intended to result in financial or personal gain. When Dmitri Dolgov said that Waymo's cars are safe enough to drive his children, I think that he committed fraud. Maybe not in the legal sense, but it's wrongful and deceptive and results in financial and personal gain.