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People who invested in the insane attempt to trademark-troll the term "magic link," which drove this person out of business: * Tiger Global * Northzone * Lig
by numair 5y ago
People who invested in the insane attempt to trademark-troll the term "magic link," which drove this person out of business:
* Tiger Global
* Northzone
* Lightspeed Ventures
* SV Angel
* Social Capital
* Balaji Srinivasan
* Ryan Hoover
* Alexis Ohanian
* Naval Ravikant
Just remember, these are supposed to be sophisticated investors who have technical skills and do due diligence... And you're supposed to see their names on a deal and go, "oh, well, if they invested, there must be something of value here!" Yeah, no. They are literally shareholders in an attempt to trademark-troll into taking ownership over a very basic form of user authentication. So pathetic.
- SahAssar 5y ago> And you're supposed to see their names on a deal and go, "oh, well, if they invested, there must be something of value here!" I think that ship sailed a long time ago, nowadays it seems like many investors invest based on the ability to hype other investors which becomes self-perpetuating. I wasn't surprised to see that https://magic.link/ https://magic.link/ says it's "Blockchain native".
- beaconstudios 5y agoInvestors invest in things that make money. If trademark trolling is profitable, they will invest in it. What's surprising?
- godshatter 5y agoThe complete lack of ethics in the investment community?
- sonicanatidae 5y agoI do not disagree with you, but nothing about humans favors ethics. Human nature, sadly, favors "F-U, I got mine", and when it comes to money, it's even worse.
- beaconstudios 5y agoI don't think human nature favours that, because we were originally tribal, and we possess the capacity for empathy. I think capitalism promotes sociopathy.
- godshatter 5y agoI think it's also a case of "if you're not going to do that, someone else will and eat your lunch". I wonder how much things would be different if far fewer companies publicly traded their stock.
- beaconstudios 5y agothat's part of it though; it's not like engaging in business just makes you greedy (though obviously it does draw greedy/sociopathic people), it's that the mechanisms of capitalism specifically encourage you to be ruthless, either to maximise profits or stave off competition.
- nikolay 5y agoThey didn't come up with the idea either; it's like the "new" iFart app.