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Scammed By A Silicon Valley Startup

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Re: Scammed By A Silicon Valley Startup

#281

Post by wpietri »

pjc50 wrote: post #164
GuiA wrote: post #120

Earlier quoted context omitted.

Outside of the edit window for my comment, but wanted to add: the H1B situation sounds fishy as hell. 8 H1Bs costs a lot of money, which the company does not seem to abound with. It seems like something weird might be going on here - if the founders are willing to forge receipts and lie about the company, it might not be beyond them to hold on to passports or some such for "immigration reasons", which would then expl…

The easiest solution is that they've simply lied to the 'H1Bs' and immigration officials as well - brought them in on tourist visas or some other arrangement.

Excellent point. Which would make the developers even less likely to go anywhere or talk to authorities.

Re: Scammed By A Silicon Valley Startup

#283

Post by maceo »

Wage theft causes American workers to lose an estimated $50 billion dollars per year.

Usually low-income workers, many of whom are not in a social class where they're friends with a smart lawyer, are the victims.

This is just the SV flavor of what millions of American workers suffer from year-round.

Re: Scammed By A Silicon Valley Startup

#284

Post by ryanSrich »

throway29816129 wrote: post #75

As a cheapo freelancer born and working in a country that ranks quite low in transparency, trust and justice system ratings, I'm used to getting shafted by people who hire my services, fail to pay, and leave me with no option to turn to for help. But I've to say I'm shocked something like that happens even in Silicon Valley, and based on other comments here, quite often too. I don't know whether to cry for my fellow…

It's just over saturation. Not everyone can work for a reputable, well paying company. Hopefully with stories like people will become more privy to the talent shortage myth. It's a money grab that allows startups like this to survive. If there really was a talent shortage no one in their right mind would ever work for a shady startup in Silicon Valley where the rent is 3x the national average.

Re: Scammed By A Silicon Valley Startup

#285

Post by wpietri »

kelukelugames wrote: post #261
novaleaf wrote: post #260

Earlier quoted context omitted.

thanks for the details, though my rant is more about this behavior in general, and not so much about this specific instance :)

I agree. People have no incentive to change unless we name names.

However much I want to see these culprits caught and punished, I think it's a lot to ask a jobless, possibly homeless person to attract retribution from people who have already proven that they will do absolutely anything to maintain the appearance of success.

Even when you win, bogus lawsuits are expensive and painful to sort out. My mom was sued after a business deal went south. Seeing the judge find for her on all counts and upbraid the plaintiff and the plaintiff's lawyer was satisfying, but it was not worth the 18 months of severe stress or the substantial legal bills that we had to pay.

If you would like to see more names named, then try accompanying your request with a credible offer of a legal defense fund at least $100k in size. That's a lot more persuasive than the notion that random internet commenters will be disappointed.

Re: Scammed By A Silicon Valley Startup

#286

Post by trcollinson »

jwdunne wrote: post #245
trcollinson wrote: post #61

Earlier quoted context omitted.

Absolutely yes, though it depends on the transparency of the rest of the team really. I have been involved with three companies in my career which pulled out of this seeming nosedive. One of the companies was going through a really horrible time. They had just got done releasing software that was horribly behind schedule which relieved their customers, but it was still stressful. They were working on settling two law…

That's an incredible set of stories. What strikes me is the ability and confidence to take the CEO aside and say no, that's not happening. That sounds pretty nerve racking. The things that stick out to me here are how excellent teams took the mantle and provided radical turn arounds from a trajectory pointing to failure. Honestly made my day.

I would say the first time I went through this it was very nerve-racking. However, the CEO of the first company (which I spoke about in another comment, the real estate software company) really changed my attitude on working and being an employee forever. I remember sitting with him at an Applebee's late at night. We were talking about the downturn of the market and the financial problems the company had during the time and how scary it was for me as "just an employee". He said to me, "You're not 'just an employee', you're an investor in my business. You invest your time, talents, and efforts to make me succeed. I pay you dividends more regularly but honestly you should never act as just an employee. If you do amazing work you'll be rewarded just like an investor, if you act like an investor."

I know what a lot of people will say to that. "No way, you're just an employee, you won't be treated like an investor." Well, true, if you have that attitude you won't be treated like an investor. You'll be treated like an employee. However, if you start acting like an investor, you'll be treated as one. Ask intelligent questions about the business and its financials. Talk to the board. Give intelligent and thoughtful advise to help the company. Be an asset far above the code you write.

If you do that, and then all of the sudden everything starts to nosedive, you will be in a position to help fix the problem and reap the rewards. You are an investor, not an employee.

Re: Scammed By A Silicon Valley Startup

#287

Post by brianwawok »

TheActuallyer wrote: post #267
Animats wrote: post #105

The fake wire transfer receipt is fraud. That's a criminal offense. Have a talk with the local DA. California has a large prison system, with cell space available. I've never heard of a startup going that far.

+1 . Talk to DA. I wonder if there is any lawyer who would do pro bono

Pro bono work is usually to take someone with limited money OUT of a bad situation, for example help abused foster kids petition for being placed in a new foster home, or help an illegal immigrant from being deported with their children.. not "punish a CEO committing fraud to people earning 6 figure salaries".

On the other hand, the right government contact (police? employment? ) will be happy to go after the scammer for "free".

Re: Scammed By A Silicon Valley Startup

#289

Post by triplesec »

trcollinson wrote: post #276
triplesec wrote: post #236

Earlier quoted context omitted.

These are great stories, thank you! What about the third company..?

I wasn't as involved with the third company's solution as I was with the first two I mentioned. The third company was a real estate software company. The problem was there was a down turn in the market that was rather unexpected (this wasn't the '08-'09 down turn, this was much much smaller than that). The company couldn't absorb the slowing of revenue as much as they wanted to be able to and ultimately they got into…

That's even more remarkable. If only more had such noblesse oblige and integrity!
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