4 ms·
> I wouldn't call the coin distribution fair if the creators can allocate arbitrary amounts to themselves, which the Worldcoin creators appear able to do. I'm
by EMM_386 5y ago
> I wouldn't call the coin distribution fair if the creators can allocate arbitrary amounts to themselves, which the Worldcoin creators appear able to do.
I'm certainly not defending any of this … however, it should be noted that "creators can allocate arbitrary amounts to themselves" is a typical thing even in regulated markets. Notice how Trump's new social media became a public company through a SPAC? The man behind that move has two degrees from MIT.
If you want to go down that rabbit hole, go for it. But people become very wealthy, very fast, via allocating "arbitrary amounts to themselves" even in regulated markets. Financial shenanigans.
If you haven't heard of the $100 million deli in New Jersey, feel free to Google that one.
- djbusby 5y agoThis one: https://www.complex.com/life/new-jersey-deli-valued-at-100-million-is-shell-company https://www.complex.com/life/new-jersey-deli-valued-at-100-m...
- EMM_386 5y agoThat's the one. Why I'm at -1 at the moment for that comment is beyond me. It could be because I am commenting on a site where VCs play similar games. I only deal with facts.