41–50 of 107 posts
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Backpack is basically a network for tax evasion and smuggling stuff. sounds ... fishy.
Airbnb is also a network for (hotel/business) tax evasion too.
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i just checked this particular item but all the countries that use € are all 2499€ and the others (uk, swe..) are about 2500€. i guess the difference here comes from the actual curreny differences. i think its mostly taxes, because when i add the 19% VAT that i would have to repay when entering germany with a us bought laptop (i think laptops are toll free, not sure ... but some electronic devices have tolls) im at ~…
Don't forget trade within the EU is "free", so I - being located in the UK - could buy a laptop in Germany and import it free and legally (bar shipping costs). Therefore, the arbitrage would be simple and legal. Importing from the US, on the other hand, carries significant import charges as I found out the other day when I imported a BeagleBone Black.
I can't figure out the reason why some of these companies got selected into YC. I can see why Bikanta, Helion Energy, Ginkgo Bioworks, BitAccess, and ProductHunt might get in. However, some other companies look like run of the mill startup. I use non-YC companies on https://news.ycombinator.com/show , ProductHunt, and AngelList for comparison. In comparison the quality signal of recent YC companies (the ones not ment…
isnt theorem and greentoe very similar?
YC is getting involved in some serious tech and markets. Long gone are the days of web apps. Deep insight, experience, and skill in today's heavyweight industries are what matter now. Really happy to see this change and very impressed with the first portion of this batch.
>> Backpack is a company that arbitrages the cost of goods in different countries by using international travelers as a distribution network I don't understand this one - with a world focused on security and import taxes, how does this work out?
Here are a few more things that dont fall into the bucket:
from http://www.techetron.com/11310/backpack-a-new-startup-in-tow...
Ever dreamed owning an original Bob Dylan autographed poster which you see auctioned at eBay? Ever gasped why eBay or Amazon products don’t get shipped to your country? Ever wondered how cool it would have been if you could hold first edition Harry Potter books right after they got published? What about having original jersey of your most favorite superstar?
For bonus fireworks, do it for textbooks.
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If you don't travel a lot you probably just don't know. I've filled two passports. I've technically smuggled lots of stuff for myself including a computer I specifically flew to Chicago from Costa Rica to buy as it was cheaper. Edit: actually if you don't have yourself/friends/family in poor countries so you're aware of the local prices you could be completely unaware of this stuff and the tax/legal obligations for i…
Fair enough, I do realize this is possible ! ( especially when you are flying to developing countries ). But you hinge on your luck to not get caught ( and depending on your 'navigation skills' - you can get out of the scenario ). I m only curious to know about the "legalities" involved ; I m pretty sure this would have been addressed in the pitch. I was only looking for an answer that said : Here are the countries a…
I buy something on amazon, they send it to AeroCasilla's warehouse in Miami, AeroCasilla bring it to Costa Rica and their customs and text me when I can pick it up.
>> Backpack is a company that arbitrages the cost of goods in different countries by using international travelers as a distribution network I don't understand this one - with a world focused on security and import taxes, how does this work out?
No kidding it's a $16 billion market in China alone, that's why people risk on getting EXECUTED to be in the smuggling business.
Edit: this is from their site, they call themselves the "only peer-to-peer platform that gives you access to the global market."
I actually bursted out laughing when I read it, I should start a money laundering service and call it the "only secure platform that unlocks the full potential of your earnings"