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I don't assume that politicians know anything about me. Context can be helpful in getting a message across. PayPal started before the USA PATRIOT Act made it a
by thinkcomp 15y ago
I don't assume that politicians know anything about me. Context can be helpful in getting a message across.
PayPal started before the USA PATRIOT Act made it a federal crime to violate state money transmission statutes. Max and Peter weren't looking at jailtime in 1999. Entrepreneurs (and investors, and directors) today in this space who break the rules are. Besides which the California law only went into effect this July, twelve years after PayPal started.
Also, it's extremely clear that the law does apply to us; that's why we were able to get an exemption order.
- staunch 15y ago1. Take the risk anyway. 2. Change your idea. 3. Spend the next year trading letters with bureaucrats. What Would Zuck Do?
- thinkcomp 15y agoThough I generally disagree, you really might want to think twice before using that last line with me.
- staunch 15y agoYou can argue and still have a sense of humor :-)
- thinkcomp 15y agoThat's a pretty mean-spirited brand of humor then.
- staunch 15y agoSorry then. I mean it sincerely though. Why are you letting yourself get bogged down in bureaucracy when you believe it was your undoing at Harvard? Every day you spend on this is a day lost to making your startup successful.
- thinkcomp 15y agoNo one "lets" themselves get bogged down in it. Bureaucracy happens, as it did in this case, when you aren't planning on it. (This law only recently went into effect and didn't exist in 2009 when I started on FaceCash.) I keep going because when it does happen, it's a sign that you're onto something important. If anything, I think it's a shame that more startups don't tackle problems like these.