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A Swede who created a $400K Indiegogo-scam

breakit.se

41–50 of 83 posts

Re: A Swede who created a $400K Indiegogo-scam

#41
post #21

SSE Student? One of the two SSE-programs is arguably the hardest program to get into in Sweden. Sometimes the Karolinska medical school has a higher entry requirement. Graduating from there usually means you are set and don't need to scam anyone for a _very_ comfortable life.

Opportunity, Rationalization and Motivation, but never explicitly Profit.

Re: A Swede who created a $400K Indiegogo-scam

#43
Never pledge on indiegogo, it's for scammers only. Kickstarter (for all it's warts) requires a working prototype to post on their site. IGG requires no such proof that you aren't selling vaporware. Also IGG shows total pledge numbers from IGG PLUS Kickstarter (and potentially other crowdfunding sites you might post to) so that their numbers look bigger.

Stop, Drop, & Retro has some really good YouTube videos calling out IGG/KS campaigns (focused on the retro gaming scene) and he does a decent job breaking it all down.

Re: A Swede who created a $400K Indiegogo-scam

#44
post #30
post #9

Earlier quoted context omitted.

https://www.kickstarter.com/projects/322231573/zen-blanket-t... ==> SEK 4,149,969 or $460,4330 USD https://www.indiegogo.com/projects/zen-blanket-the-blanket-f... ==>$806,268 so in total $1,266,728

You might have a typo: 460,4330?

yep, SEK 4,149,969 is USD 461,227.55 rounded up to 460,430

Re: A Swede who created a $400K Indiegogo-scam

#45
post #34
post #18

Aren't these platforms meant to protect against this kind of scam?

How can you protect against such kind of scam on such kind of platform? An airplane can reduce the risk of falling down, but if you want to be protected(!) against falling down from the sky you shouldn't enter a big piece of metal that lifts off from the ground.

Entering a piece of metal that can uplift you is a calculated and well-known statistical risk you can evaluate if it worth being taken for the service it provide.

Indiegogo seems to not have such statistical intelligence.

Re: A Swede who created a $400K Indiegogo-scam

#46

Indiegogo in particular is super sketchy, I did a campaign with them and they had an employee there contacting me and telling me all the shady stuff they can do to help me be successful and if that I can guarantee I'll raise x amount they'll do all these extra things like put it on the front page and in the newsletter and whatnot. They let you extend campaigns forever if you arne't about to hit your goal so you can k…

“all the shady stuff ... things like put it on the front page and in the newsletter and whatnot.”

I really don’t get how you could consider them helping to promote popular campaigns shady. I mean it’s the very point of the entire platform, and how both they and their users and the backers of projects gain value.

Re: A Swede who created a $400K Indiegogo-scam

#47
post #44
post #30

Earlier quoted context omitted.

You might have a typo: 460,4330?

yep, SEK 4,149,969 is USD 461,227.55 rounded up to 460,430

Your original message has a typo in it. There's an extra three in the USD value (460,4330 rather than 460,430).

Re: A Swede who created a $400K Indiegogo-scam

#48
post #34

Earlier quoted context omitted.

How can you protect against such kind of scam on such kind of platform? An airplane can reduce the risk of falling down, but if you want to be protected(!) against falling down from the sky you shouldn't enter a big piece of metal that lifts off from the ground.

Entering a piece of metal that can uplift you is a calculated and well-known statistical risk you can evaluate if it worth being taken for the service it provide. Indiegogo seems to not have such statistical intelligence.

sending cash, to someone who can't at this time provide you the product you want to buy, and who makes no bones about not providing you with any assurances that they ever will is a calculated (and easily avoided) risk. You can evaluate if it is worth being taken for the product you may or may-not ever receive.

The fact that a house-fly already has the statistical intelligence for funding Indiegogo projects doesn't mean that there isn't any

Re: A Swede who created a $400K Indiegogo-scam

#49

Indiegogo in particular is super sketchy, I did a campaign with them and they had an employee there contacting me and telling me all the shady stuff they can do to help me be successful and if that I can guarantee I'll raise x amount they'll do all these extra things like put it on the front page and in the newsletter and whatnot. They let you extend campaigns forever if you arne't about to hit your goal so you can k…

“all the shady stuff ... things like put it on the front page and in the newsletter and whatnot.” I really don’t get how you could consider them helping to promote popular campaigns shady. I mean it’s the very point of the entire platform, and how both they and their users and the backers of projects gain value.

All the stuff he describes after that does sound really shady to me, though. Yuck.

Re: A Swede who created a $400K Indiegogo-scam

#50

Waiting to pay for a product until it actually exists won't kill you.

It will, metaphorically, if a lack of funding will kill the product (or prevent it from ever being made). Crowdfunding is a financing option, complete with the part where the financiers are exposed to risk.

My $100 (or whatever) isn't likely to be the difference between something being funded or not; if it's going to be funded anyway, I might as well let some other guy put up the money, and I'll buy the product when it's available generally.

Crowdfunders are exposed to risk, but they aren't going to profit. Real investment comes with the prospect of an actual upside for the investors, but if I can just buy the product later when it actually exists (crowdfunding discounts aside) why not just do that?

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