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Thalmic Labs/North helped to normalize the act of exaggerating the capabilities of your tech, lying to investors, raising millions of dollars and pivoting to so

Thalmic Labs/North helped to normalize the act of exaggerating the capabilities of your tech, lying to investors, raising millions of dollars and pivoting to something completely unrelated. We have to stop celebrating tech companies that are able to raise millions of dollars and still fail to deliver.

vmception 6y ago
That's because they were in the business of selling shares, and now they sold them all. This story is as old as America itself. The bank that is now JP Morgan Chase, the sixth largest bank in the world, was started by Aaron Burr's fundraise for a ripoff water supply system in Manhattan. He collected $2mm, used $100,00 on the stated purpose and the rest to start a bank. These are our role models, where the point is to get money by any means and try to make a profit on that before needing to forfeit the money or your freedom.
- fludlight 6y ago
  More info on the water company: https://institute.jpmorganchase.com/about/our-history https://institute.jpmorganchase.com/about/our-history https://en.wikipedia.org/wiki/Manhattan_Company https://en.wikipedia.org/wiki/Manhattan_Company https://www.jstor.org/preview-page/10.2307/25096785?seq=1 https://www.jstor.org/preview-page/10.2307/25096785?seq=1
  - trimbo 6y ago
    > Among its founders are Alexander Hamilton and Aaron Burr Talk about co-founder infighting!
- reaperducer 6y ago
  This story is as old as America itself I think you means "This story is as old as Canada, itself." North was Canadian. Also, the story is older than America. It goes way back to medieval Europe, at least. Possibly farther back than that in the Middle East, but that's not an area of history I know much about.
  - vmception 6y ago
    I hope to inspire!
EE84M3i 6y ago
Why should we stop celebrating them? Who are the losers here and why should I feel sorry for them?
- cs-szazz 6y ago
  I believe the losers are the employees whose equity is likely worth $0.
  - deleted 6y ago
    [deleted]
- acituan 6y ago
  We all are the losers. That money is used in one of the least productive ways possible. Imagine all the other startups that had genuine productivity increasing, humanity enriching potential that was deprived of this fund due to investor incompetence and rewarding short-termist exits.
- deleted 6y ago
  [deleted]

vmception 6y ago

That's because they were in the business of selling shares, and now they sold them all. This story is as old as America itself. The bank that is now JP Morgan Chase, the sixth largest bank in the world, was started by Aaron Burr's fundraise for a ripoff water supply system in Manhattan. He collected $2mm, used $100,00 on the stated purpose and the rest to start a bank. These are our role models, where the point is to get money by any means and try to make a profit on that before needing to forfeit the money or your freedom.

fludlight 6y ago
More info on the water company: https://institute.jpmorganchase.com/about/our-history https://institute.jpmorganchase.com/about/our-history https://en.wikipedia.org/wiki/Manhattan_Company https://en.wikipedia.org/wiki/Manhattan_Company https://www.jstor.org/preview-page/10.2307/25096785?seq=1 https://www.jstor.org/preview-page/10.2307/25096785?seq=1
- trimbo 6y ago
  > Among its founders are Alexander Hamilton and Aaron Burr Talk about co-founder infighting!
reaperducer 6y ago
This story is as old as America itself I think you means "This story is as old as Canada, itself." North was Canadian. Also, the story is older than America. It goes way back to medieval Europe, at least. Possibly farther back than that in the Middle East, but that's not an area of history I know much about.
- vmception 6y ago
  I hope to inspire!

EE84M3i 6y ago

Why should we stop celebrating them? Who are the losers here and why should I feel sorry for them?

cs-szazz 6y ago
I believe the losers are the employees whose equity is likely worth $0.
- deleted 6y ago
  [deleted]
acituan 6y ago
We all are the losers. That money is used in one of the least productive ways possible. Imagine all the other startups that had genuine productivity increasing, humanity enriching potential that was deprived of this fund due to investor incompetence and rewarding short-termist exits.
deleted 6y ago
[deleted]