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Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

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Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#161

Post by ricardobeat »

nemothekid wrote: post #157
ricardobeat wrote: post #151

Earlier quoted context omitted.

Bear in mind this guy has spent a fortune and has been severely screwed over by regulators, while dozens of startups operate in the clear with similar services. He could probably get over the hurdles with funding, but who's going to put his feet into this mess? I'd be freaking out too. Makes me wonder, if had he operated under the radar for a while, and gradually complied with newly imposed regulations, things would…

Apparently that was first avenue of action. He says here : https://www.facecash.com/legal/brown.html that he applied, but they required his company to raise 80 million dollars before he could pay $5,000 fee. Strangely enough however, he also claims to have built facebook (although the language keeps it vague enough that you aren't aware of his contribution)

Not strange at all. See http://en.wikipedia.org/wiki/Criticism_of_Facebook#Aaron_Gre...

For some perspective, Stripe has only raised $40M to date.

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#162

Post by kalleboo »

georgeecollins wrote: post #38
igravious wrote: post #22

Earlier quoted context omitted.

Ahh, is this why all these tech giants use a non-money credit system for their stores and networks: Sony, Apple, Microsoft, Amazon(?), ... there must be many more.

The reason why companies use points instead of $ is: 1) Easy to keep the price consistent world wide 2) There is a casino chip theory that you spend more money when it is abstracted. People spend more when they use their credit cards as opposed to cash, etc. 3) You can sell point cards at retailers to the unbanked. In the Xbox case this is important because a lot of your audience is kids.

As for 3, Apple sell currency-denominated cards for the iTunes store without any problems.

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#163

Post by gammarator »

staunch wrote: post #58

houseSYSTEM failed -> Sue Facebook FaceCash failed -> Sue Facebook + everyone Aaron got rich by filing a frivolous lawsuit against Zuck, might as well try it again, huh? This time with even more victims. Building successful companies is hard, let's go lawyering.

Don't forget the self-published screed about the houseSYSTEM/Facebook saga: http://www.aarongreenspan.com/authoritas.html

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#164

Post by hedgie »

wmf wrote: post #112
pjg wrote: post #94

Earlier quoted context omitted.

Have you looked at Aaron Greenspan's legal credentials ? He is (or atleast claims) a fellow of Stanford Law School. Has build a site for searching legal articles and in general spent considerable time researching this issue

But real lawyers know not to represent themselves. It's too easy to get emotionally wrapped up in the case and lose perspective.

a friend dated someone who was a new lawyer and tried representing him/herself in a divorce. after crying on the stand it did not end well.

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#165

Post by sjg007 »

It is better to ask for forgiveness than to ask for permission. It is easier to get a money transmitters license after you IPO than before. Taxi medallions, asinine sublet and renter laws are all examples of this. Legal gray areas make great businesses. The CA law he references was sponsored by the big financial companies to favor protectionism and so if enforced will raise hell and probably be overturned by the Feds and currency/interstate commerce laws.

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#167

Post by tzs »

greatreorx wrote: post #118
grellas wrote: post #84

The key to understanding this lawsuit lies in a technical point having nothing to do with the merits of the claims and which appears at pages 35 through 37 of the complaint. In that section, the plaintiff, Think Computer Corporation, "respectfully requests that Civil Local Rule 3-9(b) be retired, or that Plaintiff be exempted from the Rule given its particular ownership [i.e., owned 100% by one individual] and tax st…

> Nowhere is there any express private right of action that gives any private citizen the right to file suit complaining about alleged violations of these laws. I thought California 17200 allows for private citizens to sue on behalf of the general public and that no actual injury against the plaintiff is required. Is there something different about this case? (below quote and link for other HN readers, I'm sure grell…

The page you link to at envirolaw.org is out of date by almost a decade. It is discussing the law as it was before Proposition 64. Proposition 64, which passed in 2004, among other things changed the part of section 17204 which said "any person acting for the interests of itself, its members or the general public" to "a person who has suffered injury in fact and has lost money or property as a result of the unfair competition".

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#168

Post by TheAntipodean »

redthrowaway wrote: post #143
TheAntipodean wrote: post #124

Earlier quoted context omitted.

I believe the preferred naming for 0.01 BTC is a Satoshi [1]. They were named such to honour the author of the original paper. [1] Third sentence: http://en.wikipedia.org/wiki/Bitcoin

A Satoshi is defined as 10 ^ -8 BTC. Actually, it's more accurate to say that a Bitcoin is defined as 10^8 Satoshis, as the Satoshi is the actual atomic unit of exchange.

Ahh thank you for clarifying that. My mistake.

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#169

Post by TheAntipodean »

tetrad wrote: post #129
TheAntipodean wrote: post #124

Earlier quoted context omitted.

I believe the preferred naming for 0.01 BTC is a Satoshi [1]. They were named such to honour the author of the original paper. [1] Third sentence: http://en.wikipedia.org/wiki/Bitcoin

0.01 BTC is in fact a bitcent, and a Satoshi is much smaller (0.00000001 BTC) https://en.bitcoin.it/wiki/FAQ#What_do_I_call_the_various_de...

Thank you for clarifying that. My mistake!

Round two!

Re: Aaron Greenspan sues Facebook, Sequoia, Andreesen, YC, others

#170

Post by TheAntipodean »

anateus wrote: post #127
TheAntipodean wrote: post #124

Earlier quoted context omitted.

I believe the preferred naming for 0.01 BTC is a Satoshi [1]. They were named such to honour the author of the original paper. [1] Third sentence: http://en.wikipedia.org/wiki/Bitcoin

The sidebar on the right mentions that a Satoshi is actually 0.00000001 BTC

Thank you. Round 3 =]
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