zlacker

>>donsup+(OP)
YC invested in what was clearly an outright fraud? Or did they pivot do hard that nobody noticed?

>>dmitry+A3
A poor decision does not equal fraud.

>>devout+94
It does when the poor decision is to run a ponzi scheme

e: ah, only acting as the middlemen between the end user and a ponzi scheme. Probably that'll give them and their VC backers enough plausible deniability to avoid being arrested.

>>Khoth+fb
This wasn’t a Ponzi scheme.

A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors.

https://www.investor.gov/introduction-investing/investing-ba...

>>devout+Qm
If anything it was closer to a pump and dump with Luna.

I don't get why calling it a Ponzi is so popular when there wasn't something paying returns using other people's money.