24 ms·

I didn't have all the information that's coming out now. People tried. Read the article. The last investment was finalized days after someone raised concerns af

I didn't have all the information that's coming out now. People tried. Read the article. The last investment was finalized days after someone raised concerns after realizing we didn't contact 70% of our customers.

wakeywakeywakey 6y ago
The details of your post go beyond those mentioned in the article. Could you provide additional links?
- pstoica 6y ago
  I was someone at the bottom of the totem pole who tried to do my job and ask what questions I could. I certainly noticed a lack of analytics or basic traffic/revenue/customer data. Retroactively, it was obvious that this was essentially a fake job, but I couldn't piece this together and there wasn't enough company-wide transparency. The fake financial statements were publicly released: https://www.justice.gov/usao-sdny/press-release/file/1317641/download https://www.justice.gov/usao-sdny/press-release/file/1317641...
  - edm0nd 6y ago
    How much were you being paid a year to do basically nothing?
    - pstoica 6y ago
      Decent salary, but that's not the point. I'm distraught to realize I spent 5 months on nothing, and it's not something I'm proud to have or explain on my CV. It's cruel how much money these people throw away, but we were misled into thinking it was real. I wouldn't have taken this position to support such a scumbag.
      - CatShitTodd 6y ago
        What is cruel is I am having to file bankruptcy because of this.
        NationalPark 6y ago
        Were you an investor?
        CatShitTodd 6y ago
        No, not an investor. Without giving a way too much, we are a company in the technology space. They paid us a fee per user. They paid us fees based on these fake numbers of users that they submitted to their investors. Which means they essentially over paid us what is a lot of money for our small company. We made business decisions around that money in the past and for the future. Now it looks like that not only will we get no more money, but they also want like 90% of what they paid us back.
        deleted 6y ago
        [deleted]
        caymanjim 6y ago
        Not sure if you're being serious, but if you were an early investor, isn't it on you to make sure the business is legit? Anyone can be misled by a fraudster, but some responsibility lies with the VCs and angel investors throwing money at these companies and enabling this sort of thing to happen.
        CatShitTodd 6y ago
        No, not an investor. Without giving a way too much, we are a company in the technology space. They paid us a fee per user. They paid us fees based on these fake numbers of users that they submitted to their investors. Which means they essentially over paid us what is a lot of money for our small company. We made business decisions around that money in the past and for the future. Now it looks like that not only will we get no more money, but they also want like 90% of what they paid us back.

wakeywakeywakey 6y ago

The details of your post go beyond those mentioned in the article. Could you provide additional links?

pstoica 6y ago
I was someone at the bottom of the totem pole who tried to do my job and ask what questions I could. I certainly noticed a lack of analytics or basic traffic/revenue/customer data. Retroactively, it was obvious that this was essentially a fake job, but I couldn't piece this together and there wasn't enough company-wide transparency. The fake financial statements were publicly released: https://www.justice.gov/usao-sdny/press-release/file/1317641/download https://www.justice.gov/usao-sdny/press-release/file/1317641...
- edm0nd 6y ago
  How much were you being paid a year to do basically nothing?
  - pstoica 6y ago
    Decent salary, but that's not the point. I'm distraught to realize I spent 5 months on nothing, and it's not something I'm proud to have or explain on my CV. It's cruel how much money these people throw away, but we were misled into thinking it was real. I wouldn't have taken this position to support such a scumbag.
    - CatShitTodd 6y ago
      What is cruel is I am having to file bankruptcy because of this.
      - NationalPark 6y ago
        Were you an investor?
        CatShitTodd 6y ago
        No, not an investor. Without giving a way too much, we are a company in the technology space. They paid us a fee per user. They paid us fees based on these fake numbers of users that they submitted to their investors. Which means they essentially over paid us what is a lot of money for our small company. We made business decisions around that money in the past and for the future. Now it looks like that not only will we get no more money, but they also want like 90% of what they paid us back.
        deleted 6y ago
        [deleted]
      - caymanjim 6y ago
        Not sure if you're being serious, but if you were an early investor, isn't it on you to make sure the business is legit? Anyone can be misled by a fraudster, but some responsibility lies with the VCs and angel investors throwing money at these companies and enabling this sort of thing to happen.
        CatShitTodd 6y ago
        No, not an investor. Without giving a way too much, we are a company in the technology space. They paid us a fee per user. They paid us fees based on these fake numbers of users that they submitted to their investors. Which means they essentially over paid us what is a lot of money for our small company. We made business decisions around that money in the past and for the future. Now it looks like that not only will we get no more money, but they also want like 90% of what they paid us back.