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This strategy worked out well for FTX

consumer451 2y ago
That's not along the same line of thinking. Theranos was also a fraud. I am not talking about outright fraud. I am just some shmoe, so I would love someone else to put this more clearly. Is what I originally posted intellectual property/regulatory arbitrage, vs. fraud? Is there a better way to state this difference?
- qwertytyyuu 2y ago
  I mean Tesla self driving advertising is as much of a fraud as theranos… maybe it’s not as bad because it wasn’t a medical device?
  - exe34 2y ago
    No, it's acceptable because he bought the White House.
  - Dylan16807 2y ago
    Promising a of self driving and delivering a much lower level is not nearly as much fraud as "the entire product does nothing". And it being a promise about future improvements also reduces the level of fraud compared to lying about what the product already does.
  - kortilla 2y ago
    It’s not though because it somewhat works and the limitations are clear when you use it. Theranos was completely fraudulent and there was no way to tell.
- andy_ppp 2y ago
  As with everything there’s lines you can bend and lines you just don’t cross. Gambling with your clients’ deposits is always going to mean jail time. Timing is also important, for example the US basically has given up on consumer finance protection laws and white collar crime being a thing, so while big companies can still sue you the government will let you get away with anything you like. Go for it!
  - consumer451 2y ago
    https://soundcloud.com/anchorball/grifters-paradise https://soundcloud.com/anchorball/grifters-paradise What a time to be alive! This is generative AI music, aka the future of music?
    - Puts 2y ago
      It’s funny that AI needs that much auto-tune.
      - consumer451 2y ago
        When it doesn't sound like auto-tune, is when we really have to worry.
mikeryan 2y ago
Worked out better for Uber and Lyft. Say what you want about how ubiquitous those platforms are these days, they were unlicensed taxi services for years.

That's not along the same line of thinking. Theranos was also a fraud. I am not talking about outright fraud. I am just some shmoe, so I would love someone else to put this more clearly. Is what I originally posted intellectual property/regulatory arbitrage, vs. fraud? Is there a better way to state this difference?

qwertytyyuu 2y ago
I mean Tesla self driving advertising is as much of a fraud as theranos… maybe it’s not as bad because it wasn’t a medical device?
- exe34 2y ago
  No, it's acceptable because he bought the White House.
- Dylan16807 2y ago
  Promising a of self driving and delivering a much lower level is not nearly as much fraud as "the entire product does nothing". And it being a promise about future improvements also reduces the level of fraud compared to lying about what the product already does.
- kortilla 2y ago
  It’s not though because it somewhat works and the limitations are clear when you use it. Theranos was completely fraudulent and there was no way to tell.
andy_ppp 2y ago
As with everything there’s lines you can bend and lines you just don’t cross. Gambling with your clients’ deposits is always going to mean jail time. Timing is also important, for example the US basically has given up on consumer finance protection laws and white collar crime being a thing, so while big companies can still sue you the government will let you get away with anything you like. Go for it!
- consumer451 2y ago
  https://soundcloud.com/anchorball/grifters-paradise https://soundcloud.com/anchorball/grifters-paradise What a time to be alive! This is generative AI music, aka the future of music?
  - Puts 2y ago
    It’s funny that AI needs that much auto-tune.
    - consumer451 2y ago
      When it doesn't sound like auto-tune, is when we really have to worry.

mikeryan 2y ago

Worked out better for Uber and Lyft. Say what you want about how ubiquitous those platforms are these days, they were unlicensed taxi services for years.