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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

#91

Post by zachlatta »

saganus wrote: post #89
zachlatta wrote: post #70

Earlier quoted context omitted.

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.

We originally had "tech company" on the site, but after showing it to a few friends and people that were crashing at our house, it was clear that people had a better understanding of the site when we used "startup", so we decided to go with it.

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

#93

Post by orf »

zachlatta wrote: post #91
saganus wrote: post #89

Earlier quoted context omitted.

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.

We originally had "tech company" on the site, but after showing it to a few friends and people that were crashing at our house, it was clear that people had a better understanding of the site when we used "startup", so we decided to go with it.

That's a huge sample bias there. Cool idea, but 'startup' in the name was a bit confusing at first.

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

#94

Post by zachlatta »

orf wrote: post #93
zachlatta wrote: post #91

Earlier quoted context omitted.

We originally had "tech company" on the site, but after showing it to a few friends and people that were crashing at our house, it was clear that people had a better understanding of the site when we used "startup", so we decided to go with it.

That's a huge sample bias there. Cool idea, but 'startup' in the name was a bit confusing at first.

Yeah, totally fair. If we get enough feedback to the contrary, we'll change it :-).

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

#95

Post by plesner »

mikeash wrote: post #86
plesner wrote: post #74

Earlier quoted context omitted.

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 existi…

No you're totally right, it's not a pyramid scheme. I still don't think it's a Ponzi scheme though because I don't think a sticker and return postage constitutes an investment. It's just a normal, if unsustainable, trade.

For now. It would be totally consistent with how Ponzi schemes work in real life to start with something legit that turns out to not be sustainable, and then turning it into something fraudulent. Say once people have started sending in stickers they should choose to offer a service where they hang on to your stickers to save you the trouble of mailing back and forth, and doubling your holding every 10 days. Then a sticker would be an investment and it would be a Ponzi scheme.

I can only hope they'll do something like that. It'd be totally in the spirit of Ponzi.

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

#96

Post by mikeash »

plesner wrote: post #95
mikeash wrote: post #86

Earlier quoted context omitted.

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 existi…

No you're totally right, it's not a pyramid scheme. I still don't think it's a Ponzi scheme though because I don't think a sticker and return postage constitutes an investment. It's just a normal, if unsustainable, trade. For now. It would be totally consistent with how Ponzi schemes work in real life to start with something legit that turns out to not be sustainable, and then turning it into something fraudulent. Sa…

Obviously it's not actually a Ponzi scheme if you take the whole "stickers" thing into account. Which is presumably why they aren't being raided by the authorities right now.

But it's definitely meant to mirror the structure of one, just with stickers instead of money. If they had you send in $10,000 instead of a sticker, and promised $20,000 back, it would clearly qualify.

So I'd say it's "a Ponzi scheme, but for stickers."

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

#97

Post by cglace »

fluxsauce wrote: post #79
callumlocke wrote: post #76

Earlier quoted context omitted.

Why would a security concern (which would apply to mailing anything of value, not just cash) imply any legal issue?

If a particular address was known to consistently receive cash in the mail, wouldn't that make it a target of theft? As someone who lives in the Bay Area and has seen car windows smashed for the change in the cupholder and a friend's motorcycle knocked over to get the flattened soda can that was being used as a stabilizer, yes, that's a security concern.

How would you know if a particular address receives cash in the mail?

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

#98

Post by alanh »

zachlatta wrote: post #94
orf wrote: post #93

Earlier quoted context omitted.

That's a huge sample bias there. Cool idea, but 'startup' in the name was a bit confusing at first.

Yeah, totally fair. If we get enough feedback to the contrary, we'll change it :-).

Or just add a sentence of clarification to the website.

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

#99

Post by polynomial »

lorenzhs wrote: post #27
zachlatta wrote: post #18

Earlier quoted context omitted.

If you send us an international stamp instead of a 50¢ piece, we'll honor it ;-).

not sure how to get a stamp for sending mail from the US to where I live honestly. But the idea is cool and thanks for considering internationals as well ;)

The answer to your question was actually the basis of the original Ponzi scheme: An International Reply Coupon.

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

#100

Post by mlucero »

orf wrote: post #93
zachlatta wrote: post #91

Earlier quoted context omitted.

We originally had "tech company" on the site, but after showing it to a few friends and people that were crashing at our house, it was clear that people had a better understanding of the site when we used "startup", so we decided to go with it.

That's a huge sample bias there. Cool idea, but 'startup' in the name was a bit confusing at first.

You all over think everything on this forum. I guess that's part of the beauty of it and likely how some people get stuck doing nothing.
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