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PalaNIN posted:In Australia we call whippets nangs, because that's the sound you hear after you take one. https://www.youtube.com/watch?v=c3yEjD_oijw
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Apr 6, 2023 16:01
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protip: if you are going to run a cryptocurrency scam, pay your taxes before buying ten million dollars of yachtsDOJ posted:ELMAANI filed a false 2017 tax return stating that he had only approximately $15,000 of income from a “patent design” business, and he filed no return and reported no income to the Internal Revenue Service (“IRS”) in 2018. Nevertheless, ELMAANI spent, in 2018, over $10 million for the purchase of multiple yachts, $1.6 million at a carbon-fiber composite company, hundreds of thousands of dollars at a home improvement store, and over $700,000 for the purchase of two homes, one of which was titled in the name of a shell company and the other in the name of two of his associates. The tax loss to the United States from ELMAANI’s conduct was approximately $5,523,794.
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Apr 6, 2023 18:05
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doingitwrong posted:New Yorker moves to Texas, buys some cowboy boots, and takes the religious locals for all they’re worth. What's the exit strategy for these high profile ponzi-schemes? Bag holding scams I get, whoever made money is long out of the game like in crypto, but what's the game plan for these guys that have a big, public, well know persona attached to the clusterfuck? Like, he stole 24 million bucks and... never spent it on anything outrageous (that I could gather from that one article, anyways)? Is the dude banking on not pulling a Madoff and make it out of prison alive, if very very old, to then do what exactly? Or is it just that they never plan on getting caught, even though it seems like they absolutely always get caught?
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Apr 6, 2023 22:09
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Is it a case of us just knowing the ones that got caught?
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Apr 6, 2023 22:15
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Bubblyblubber posted:What's the exit strategy for these high profile ponzi-schemes? Bag holding scams I get, whoever made money is long out of the game like in crypto, but what's the game plan for these guys that have a big, public, well know persona attached to the clusterfuck? They don't get to keep the money when they get caught, so the plan is basically to die first.
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Apr 6, 2023 22:19
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MEIN RAVEN posted:I honestly came away from that video kind of hating them both. I got real fed up with the host going "well you really should take that job at Whataburger," since the core of that response is "Bootstraps." There was probably more after that, but I'm really sick of Dave Ramsay-type bullshit. Dude keeps bringing up past accomplishments like starting his own ad agency and doing coding and stuff. Why can’t he just… do that again? Failing at a waterburger job isn’t the solution. Lol at bragging about your Texas tech communications degree. But for real why are all these comments sucking the dick of this annoying interviewer? He’s not good.
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Apr 7, 2023 00:15
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When you start a Ponzi scheme you put a fall guy at the top and keep all the money yourself.
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Apr 7, 2023 00:47
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Switchback posted:Lol at bragging about your Texas tech communications degree. I love that The Simpsons specifically bagged on Texas Tech in the episode where Homer became the sanitation commissioner for the city. https://youtu.be/fpS7-PmsuDs?t=53s https://www.youtube.com/watch?v=fpS7-PmsuDs&t=53s
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Apr 7, 2023 01:15
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Bubblyblubber posted:What's the exit strategy for these high profile ponzi-schemes? Bag holding scams I get, whoever made money is long out of the game like in crypto, but what's the game plan for these guys that have a big, public, well know persona attached to the clusterfuck? It is especially weird when they have an established life and identity that's not easy to disappear from. I assume they started with some dollar target, at which point they planned to disappear to a tropical country. But then social entanglements came up, maybe they start a family, and the dollar amount and target date keep getting pushed back until the FBI shows up at their door when they're well past normal retirement age.
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Apr 7, 2023 02:15
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Bubblyblubber posted:Or is it just that they never plan on getting caught, even though it seems like they absolutely always get caught?
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Apr 7, 2023 03:05
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A lot of Ponzi schemes start as more-or-less legitimate investments. If you just want to steal your clients’ money, why pay any of it back at all? But, y’know, the investment strategy isn’t paying off yet, and some of your investors need to withdraw, and you want to be obliging, but you also aren’t ready to completely give up, and you don’t want all your investors to bail, and it’s real easy to just lie about how things are going.
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Apr 7, 2023 03:26
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Phanatic posted:In the short-term that’s correct(you have receptors that measure blood pH, more CO2 = lower pH = faster respiration rate) but in the longer term if you’re O2-deprived your body switches mechanisms and starts measuring O2 levels in the blood to determine whether you need more. People with COPD, for instance, feel short of breath even if they have normal CO2 levels, and if you go up to a mountain and start getting altitude sickness, same thing. See also: The Case Of The Rusty Assassin
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Apr 7, 2023 05:23
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rjmccall posted:A lot of Ponzi schemes start as more-or-less legitimate investments. If you just want to steal your clients’ money, why pay any of it back at all? But, y’know, the investment strategy isn’t paying off yet, and some of your investors need to withdraw, and you want to be obliging, but you also aren’t ready to completely give up, and you don’t want all your investors to bail, and it’s real easy to just lie about how things are going. I'm pretty sure this is basically Star Citizen.
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Apr 7, 2023 08:59
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Star Citizen is absolutely a Ponzi, payed out in snippets of underwhelming gameplay instead of money.
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Apr 7, 2023 09:13
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Doesn't a Ponzi require that the victims believe there will be a financial payout? It's just a terrible product that is never going to meet anyone's expectations. If there's a scam in there it's just run of the mill white collar crime bullshit, like maybe in a few years we find out that the project managers have been paying themselves ludicrous amounts of money or there's just some straight up good 'ol fashioned embezzlement.
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Apr 7, 2023 13:12
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Cyrano4747 posted:or there's just some straight up good 'ol fashioned embezzlement. I vote it’s this.
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Apr 7, 2023 13:44
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rjmccall posted:A lot of Ponzi schemes start as more-or-less legitimate investments. If you just want to steal your clients’ money, why pay any of it back at all? But, y’know, the investment strategy isn’t paying off yet, and some of your investors need to withdraw, and you want to be obliging, but you also aren’t ready to completely give up, and you don’t want all your investors to bail, and it’s real easy to just lie about how things are going. The original Ponzi scheme was at first just a weird arbitrage opportunity, but then Charles Ponzi just kept taking new investors' money anyway even though he couldn't actually get the money back out. Once the money was coming in so fast, though, he didn't even have to try.
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Apr 7, 2023 15:28
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^ everything they said, with the additional detail that the arbitrage opportunity was actually pretty lucrative. there was just a relatively low limit to how many postage stamps could be bought, moved across the ocean, and resold
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Apr 7, 2023 19:04
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AreWeDrunkYet posted:It is especially weird when they have an established life and identity that's not easy to disappear from. I assume they started with some dollar target, at which point they planned to disappear to a tropical country. But then social entanglements came up, maybe they start a family, and the dollar amount and target date keep getting pushed back until the FBI shows up at their door when they're well past normal retirement age. It’s all over once Marian sings “Till There Was You.”
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Apr 7, 2023 20:24
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Potato Salad posted:^ everything they said, with the additional detail that the arbitrage opportunity was actually pretty lucrative. there was just a relatively low limit to how many postage stamps could be bought, moved across the ocean, and resold Wikipedia posted:For the initial 18 investors of January 1920, for their $1,800 investment, it would have taken 53,000 postal coupons to actually realize the arbitrage profits. For the subsequent 15,000 investors that Ponzi had, he would have had to fill Titanic-sized ships with postal coupons just to ship them to the U.S. from Europe.
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Apr 8, 2023 00:11
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Switchback posted:Dude keeps bringing up past accomplishments like starting his own ad agency and doing coding and stuff. Why can’t he just… do that again? Failing at a waterburger job isn’t the solution. Lol at bragging about your Texas tech communications degree. Like, I sort of get it... Truthfully, as a 41 year old who has built a career that allows me to make nearly six figures at this point, it would be REALLY hard to lose my job and be to the point where I'm applying for fast food. But there's multiple rungs to fall before you hit that point. I'd probably start with stuff close to what I'm doing now, then slide down to stuff a level or two below, then head for office temp agencies and call centers, before going to retail/fast food. Maybe do some Door dash or Instacart to bridge the gap for a bit. And my degree is basically the equivalent of his. Then again, I also avoid threatening public figures on Twitter. And the interviewer is just a prick. Which might be OK if he was entertaining or insightful, but he's not.
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Apr 8, 2023 05:35
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Cyrano4747 posted:Doesn't a Ponzi require that the victims believe there will be a financial payout? Like one, I may mean more. I'm still pretty sure Chris Roberts genuinely believed at least at one point he's going to make the ultimate game, just having massively unrealistic expectations and wildly overestimating his own skill at development and management, that familiar old story. And the latter is almost certainly happening. It's like how those goddamn metaverse projects keep making insane amounts of money disappear- the only people buying in are credulous idiots who don't know what a good product is supposed to look like anyway, so you might as well grab as much as you can while delivering the bare minimum to act like you're doing a job.
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Apr 8, 2023 05:39
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Chris Roberts might have actually pulled it off through sheer vast immolation of hundreds of millions of dollars and shambled across the finish line with a forgettable Space Rome MMO had he not marked the project for death by selecting a game engine unfit for purpose. Micromanaging the project to exhaustion from a yacht in the Mediterranean is inefficient as hell, but it can be overcome by spending a quarter of a billion dollars on a game that probably should have cost a tenth of that amount. However, deliberately selecting a game engine that was already dying out back in 2011--that also quite literally does not support some of the features that are needed for the game to work--created an insurmountable debt that that are still trying to pay down to this day. Edit: it's worth mentioning that this is the same engine that, after Amazon acquired/forked it, resulted in such a glitchy MMO experience that it cut down the New World launch down at it's knees and relegated the game to an ongoing playerbase smaller than EvE Online. It's just not suitable for the task out of the box: great for a single player game but a death sentence for a true MMO. Potato Salad fucked around with this message at 17:44 on Apr 9, 2023 |
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Apr 9, 2023 17:31
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Star Citizen can't actually be completed as sold because Chris was promising thousands of players in a single server all fighting in a giant space battle happening in real time at realistic FPS and fully persistant everything (items never despawn when dropped). No engine is capable of that. I do agree I think at one point he believed he could make the greatest game of all time but pretty much right out of the gate he was selling poo poo that was almost impossible especially for the money raised to achieve.
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Apr 9, 2023 18:15
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Popete posted:Star Citizen can't actually be completed as sold because Chris was promising thousands of players in a single server all fighting in a giant space battle happening in real time at realistic FPS and fully persistant everything (items never despawn when dropped). No engine is capable of that. What if travelling salesman problem but even more complex
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Apr 9, 2023 18:31
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the traveling whalesman
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Apr 9, 2023 19:32
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Bargaining, Wailing, Mashing of teeth
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Apr 9, 2023 19:33
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Strong Sauce posted:second, i mean that dude got into a bad situation where he tweeted something that IMO should not have gotten him any kind of record at all. eating someone's heart is not a threat unless you're saying something like, "i'm going to murder you and eat your heart"... like what petty bullshit is that to have it happen. He seems to be blaming everything on this, without any real evidence that it's the issue, and in fact it's more likely that he's just generally intolerable and unwanted.
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Apr 9, 2023 20:10
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blackmet posted:
This is the real issue. If you've got a skillset that normally commands six figures you're going to be able to find loving SOMEBODY who will employ you at $50k while you re-build your resume and life. A few jobs ago I was a supervisor and one of the guys on my team was a 60 year old in a position that was way, way junior of what he should have had. Tl;dr is that he hosed up his life really bad with alcohol culminating in losing his job and generally loving up his network of contacts. Lots of burned bridges. He was in a really poo poo situation, but at the end of the day it meant he was taking jobs way below what he should have had and with an employer that was frankly terrible and unstable (they bounced paychecks with alarming frequency). Go far enough down the food chain and you'll find someone who doesn't give a poo poo that you're That Guy from the social media clusterfuck and news story.
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Apr 9, 2023 20:48
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Cyrano4747 posted:This is the real issue. If you've got a skillset that normally commands six figures you're going to be able to find loving SOMEBODY who will employ you at $50k while you re-build your resume and life. A few jobs ago I was a supervisor and one of the guys on my team was a 60 year old in a position that was way, way junior of what he should have had. Tl;dr is that he hosed up his life really bad with alcohol culminating in losing his job and generally loving up his network of contacts. Lots of burned bridges. He was in a really poo poo situation, but at the end of the day it meant he was taking jobs way below what he should have had and with an employer that was frankly terrible and unstable (they bounced paychecks with alarming frequency). This is good advice. And, of course, since Caleb Hammer has absolutely no actual financial or career-counseling education/experience, the only thing he can think of is telling the guy to get a fast food job.
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Apr 9, 2023 20:58
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Even the FIRE financial samurai guy is smarter than that. https://fortune.com/2023/04/09/early-retiree-fire-movement-returns-to-work-financial-samurai/
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Apr 9, 2023 21:11
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notwithoutmyanus posted:Even the FIRE financial samurai guy is smarter than that. https://fortune.com/2023/04/09/early-retiree-fire-movement-returns-to-work-financial-samurai/ Lmao a shameful financial samurai, he should commit financial seppuku to atone for his failure.
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Apr 9, 2023 21:29
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He'd be just fine but he early retired in SF where his $3m can maybe buy him a couple coffees at the corner shop.
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Apr 9, 2023 23:25
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Midjack posted:Lmao a shameful financial samurai, he should commit financial seppuku to atone for his failure. Nah, seppuku to his finances. Except he's already done that for a few years. So it becomes Financial Domination Samurai.
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Apr 9, 2023 23:53
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notwithoutmyanus posted:Even the FIRE financial samurai guy is smarter than that. https://fortune.com/2023/04/09/early-retiree-fire-movement-returns-to-work-financial-samurai/ More like "gently caress, I Return to Employment"
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Apr 10, 2023 00:02
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Figured Inflation Rarely Existed
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Apr 10, 2023 00:15
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Fixed Income: Real Estate
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Apr 10, 2023 00:24
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Financial Illiterate Resumes Employment
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Apr 10, 2023 00:27
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Every 2 or 3 years I actually need to look up what FIRE now stands for and I am not sure how I feel about that
melon cat fucked around with this message at 02:50 on Jan 29, 2024 |
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Apr 10, 2023 00:56
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He should just move out of SF and his financial troubles are solved. Flordia?
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Apr 10, 2023 01:38
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