His last (current?) venture 11kclub http://news.ycombinator.com/item?id=4323459
1) asks for your PII
2) wants you to do viral MLM on it's behalf
3) has ToS http://www.11kclub.com/tos.aspx that explicitly state "you are applying to join a club you know nothing about"
4) and finally, the submitter lied about his affiliation (in the comments)
That said, maybe the behavior he's stating does go on "nowadays" (again, I'm too new to know) , but really from what I see of 11kclub, He as a person does not gain my sympathy.