Hacker News new | past | comments | ask | show | jobs | submit login

To me, a complete lay person, this is incomprehensible. Not only you can sell something you don't own, but you can sell something that doesn't exist... How did it come to this, why? This feels stupid. What's the point of allowing this, what problem is it solving?



All sorts of businesses have preorder. Where you're buying something that doesn't exist.


Ah, but preorder comes with a locate. They may not have the product, but they know how to get or make it.

If you pre-sell merchandise with no idea how to get a supply of it, and you don't deliver it on time, it would arguably be fraud.

https://www.fbi.gov/scams-and-safety/common-scams-and-crimes...


Kickstarter enters the chat


"The lawsuit claims that the creator, Doug Monahan, didn’t use his raised Indiegogo or Kickstarter funds to develop or deliver the backpack, but instead, he put the cash toward “various personal expenses,” including the purchase of bitcoin, ATM withdrawals, and to pay off credit cards. The agency also claims that backers reached out to Monahan, but he ignored their complaints, shut down the company, and ceased communications."

https://www.theverge.com/2019/5/6/18534423/ibackpack-ftc-law...

"what Ferguson called “the first enforcement action in the nation against a crowdfunded project that didn’t follow through on its promise to backers” succeeded this July, netting restitution for the Washington-based donors and slapping Asylum with $31,000 in civil penalties."

https://www.seattlemet.com/news-and-city-life/2015/10/washin...


Perpetuated to extract and accumulate wealth under the guise of letting the average Joe access the free market.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: