On the list USV, a dwolla investor is missing.
Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
61–70 of 180 posts
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#62Interestingly enough, Stripe and WePay are not named while Balanced and Square are. Can anyone comment on why?
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Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#63I'm one of the parties to this: I founded ActBlue back in Cambridge before coming to SF and building Meteor.
The funny thing is it came to my house yesterday as a single cover sheet plus a CD-ROM full of files, and I literally don't have a way to read a CD-ROM anymore.
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#64Interestingly enough, Stripe and WePay are not named while Balanced and Square are. Can anyone comment on why?
1. They might actually know what they are doing or 2. they aren't doing payments of the sort that needs this sort of license.
Stripe is backed by Wells-Fargo, aren't they?
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#65Perhaps I'm new here, but any chance the title might get 's/Greenspan/Aaron Greenspan/'? I got real confused as to why Alan Greenspan might be suing tech companies...
I agree, it isn't a person suing corporations, it's a corporation suing corporations. Can we have the title changed to "Think Corp"?
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#66On page 35, in order to represent his own company as a non-lawyer, Greenspan appeals for an exception to the rule that his corporation, as the plaintiff, must retain legal counsel. He bases this request on (among other reasoning) the Citizens United decision.
Like Greenspan, IANAL, but I suspect his complaint will die quickly on that basis alone.
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#67Even though I'm not a huge Greenspan fan (are there any?), I find this money transmitter stuff incredibly fascinating. I haven't reviewed the relevant legal code, but I strongly suspect that Greenspan is right in that: (1) there are lots of little annoying laws related to money transmitters that makes it very difficult to get new payment stuff off the ground (2) If you have deep pockets and good lawyers you can prett…
"What exactly Greenspan is attempting to prove here is beyond me"
Not seeing that this has been date stamped by the court...yet. Typically you scribd the stamped copy so you know it has been filed.
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#68There is something to be said about how in the US it's often best not to contact regulators at all, and to simply fly under the radar for as long as possible.
That said, this guy is seriously toxic. Just by responding to his emails in a friendly manner can get you named in a lawsuit... and to blame competitors instead of regulators... Seems like someone to be avoided at all costs.
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#69lol 78. Defendant Yishan Wong, in response to an article authored by Plaintiff on the website Quora, wrote the following comments (among others) indicating his knowledge of payments-related laws and regulations on June 15, 2011: “Yeah, I am constantly amazed at how people haven’t yet learned that the paymentsindustry is really hard to get into. It was okay for first-wave companies like PayPal to besurprised by it, bu…
Trying to create political pressure against these "thugs" isn't necessarily a bad move. Let's say you want to start a company which bypasses Taxi medallions. It's in your interest to create a PR storm over the unfairness of the medallion system. It's not OK to be surprised when the entrenched powers try to bite you (though it may not hurt to act surprised). Of course, if you don't have the stomach for it, you shouldn't be getting into the space.
Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others
#70I don't have time to read much of the lawsuit, but is Think Computer suing for some sort of injunction to require all the companies listed to use Face Cash as only it has a California Money Transfer Act license? And for those double taking at the name, Aaron Greenspan is the CEO of Think Computer. http://www.thinkcomputer.com/
It seems strange to me that he would have standing to sue for the state to enforce its own laws, but IANAL
It's a way to set the precedent with a court decision in hand.
The most memorable twist on enforcement is Veoh suing Universal Music Group over the threats from UMG in hopes to be found not guilty, essentially asking the court to pretend Universal was suing them http://mashable.com/2007/08/09/veoh-universal/