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Show HN: Ponzi.es – Startup sticker ponzi scheme

ponzi.es

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Re: Show HN: Ponzi.es – Startup sticker ponzi scheme

#81

Earlier quoted context omitted.

Mailing physical cash? Because it's a security concern? (theft)

You never got a birthday card in the mail with a $10 bill inside?

Just socks, maybe the $10 bills were stolen ;-)

A transient mailing of discrete paper cash is different than a call-to-action requesting coins that will be delivered to the same address on a regular basis.

Re: Show HN: Ponzi.es – Startup sticker ponzi scheme

#82

In case anyone was curious, mailing cash is legal according to this Snopes Article - www.snopes.com/legal/postal/sendcash.asp Can't find a current USPS FAQ, though.

Who would think this was not legal, and why?

It is illegal in Denmark.

Re: Show HN: Ponzi.es – Startup sticker ponzi scheme

#86
post #74
post #58

Earlier quoted context omitted.

I thought that a Ponzi scheme was simply one where returns to existing investors are paid from the capital contributed by new investors.

Wouldn't that be a pyramid scheme?

I believe, and please correct me if I'm wrong, that in a pyramid scheme the individual participants receive money from new participants that they recruit (and the people your recruits recruit, and so forth down the line). If you join a pyramid scheme and then do nothing else, you receive nothing.

A Ponzi scheme is centralized, with new participants joining directly with the scheme, and proceeds paid out to all existing participants.

As structured, this sticker scheme is a Ponzi scheme, since it's all centralized and you don't do anything besides send in your sticker and postage.

Re: Show HN: Ponzi.es – Startup sticker ponzi scheme

#88

In case anyone was curious, mailing cash is legal according to this Snopes Article - www.snopes.com/legal/postal/sendcash.asp Can't find a current USPS FAQ, though.

Who would think this was not legal, and why?

I think it's just one of those factoids that gets passed around through pop-culture because nobody takes the time to verify it.

Before reading the Snopes page just now, I would probably have said that I was pretty sure mailing cash was technically illegal. But thinking about it now, I have no idea where I got that idea from.

Re: Show HN: Ponzi.es – Startup sticker ponzi scheme

#89

Which of the examples is considered to be a "startup"? The featured one is a 15-year-old spinoff of a public company with hundreds of millions of dollars in revenue. The second one is an actual public company with 4000 employees. The third one might be sort of a startup, but they have over 100 million dollars in VC backing.

For the sake of simplicity, we're using it as a blanket term for "tech company" and are happy with stickers for anything from a tiny 1 person company to a behemoth like Google (or an event like a hackathon).

Wouldn't it be better if you use "tech company" term instead? If the blanket term is already widely accepted, I see no point in using "startup" instead, as that will probably cause much more confusion.
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