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A baby-faced CEO turned a Farmville clone into a Ponzi scheme (restofworld.org)
52 points by gmays 57 days ago | hide | past | favorite | 7 comments



I'm surprised more business leaders don't run off with the company's money as soon as it takes off. This is basically how business worked during the "privatisation" phase in my post-Communist country: businesses getting set up to provide goods and services, only to collapse within months when the leadership runs away to Central America. After all, it's only rational if you can do it with impunity, and I doubt more money after the first $50-80 million really makes much difference. I'm honestly surprised this isn't the story of private enterprise everywhere. Growing up, basically all we dreamed of was to make a lot of money on some hustle and then run off to Rio de Janeiro to a life of luxury. Isn't this basically FIRE, which so many users here dream of?


Not being able to travel without being extradited seems like a pretty big downside of embezzleFIRE


I see. I guess my home country doesn't have a lot of diplomatic ties to the havens that our business elite escape to, because we ain't extradite jack-diddly-squat.


From the movies, you'd think the world is full of people willing to kill for $2m.

And maybe there are but none of them are business execs. 'Cause, yeah, seems super easy.


If your company is "taking off" its much more valuable as a going concern - unless its just a fraud.


Because if one keeps it going, one lives with pride, knowing something useful was created.

In the other scenario, one has to live life looking over one’s shoulder, knowing deep down that one is a lying, cheating sack of shit.


This sounds exactly like what is happening with Axie Infinity right now. Where you need to buy in with about $500 of ethereum right now... And then get "paid" out actual rewards and supposedly can make your money back after a month or something grinding in the game.




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