There are already Socially Responsible Mutual Funds with none of this "accredited investor" stuff. Why would you throw your money away on this? You have no idea whatsoever about what they're going to do with it, except some vague high-sounding words. More to the point, you don't know what % of the ultimate profits, if there are any, will flow to the backers and not to you.
Purism is seeking investment from individuals
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Re: Purism is seeking investment from individuals
#12What the hell. You need to have assets exceeding 1M to invest $1000? I don’t need that to buy any other stock, why would I need it here? Hell, how does it even apply to people not living in the US in the first place.
Multi decade angel investor here: accredited investor requirements are completely normal, including the good faith clause.
Re: Purism is seeking investment from individuals
#13There are already Socially Responsible Mutual Funds with none of this "accredited investor" stuff. Why would you throw your money away on this? You have no idea whatsoever about what they're going to do with it, except some vague high-sounding words. More to the point, you don't know what % of the ultimate profits, if there are any, will flow to the backers and not to you.
Multi decade angel investor here: accredited investor requirements are completely normal, including the good faith clause.
Re: Purism is seeking investment from individuals
#14There are already Socially Responsible Mutual Funds with none of this "accredited investor" stuff. Why would you throw your money away on this? You have no idea whatsoever about what they're going to do with it, except some vague high-sounding words. More to the point, you don't know what % of the ultimate profits, if there are any, will flow to the backers and not to you.
Multi decade angel investor here: accredited investor requirements are completely normal, including the good faith clause.
[deleted]
Re: Purism is seeking investment from individuals
#15Why does it sound so much like a scam ?
Not sure about the scam, but my bayesian bullshit filter is triggered by the "unlike all the evil for-profit corporations, we're a white'n'fluffy company aiming for the greater good".
Re: Purism is seeking investment from individuals
#16What the hell. You need to have assets exceeding 1M to invest $1000? I don’t need that to buy any other stock, why would I need it here? Hell, how does it even apply to people not living in the US in the first place.
>I don’t need that to buy any other stock, why would I need it here?
Those have much stricter legal and regulatory oversights which would be financially infeasible for a smaller entity to deal with. The law is to prevent people from losing all their limited life savings in scams.
>Hell, how does it even apply to people not living in the US in the first place.
Because it's a US company governed by US laws around hosting an investment vehicle. Feel free to invest in a company in a different country if you wish to be governed by different laws.
Re: Purism is seeking investment from individuals
#17Why does it sound so much like a scam ?
Because when you start digging behind the marketing at Purism a lot of what they say and do are often two different things.
Re: Purism is seeking investment from individuals
#18What the hell. You need to have assets exceeding 1M to invest $1000? I don’t need that to buy any other stock, why would I need it here? Hell, how does it even apply to people not living in the US in the first place.
Because they need you to sit back and go "damn what a bummer" when your investment nets you a $1000 loss, instead of it being something that would want you to sue.
That happens to me all the time in the stock market and I don't have close to 1MM
Re: Purism is seeking investment from individuals
#19Why does it sound so much like a scam ?
Not sure about the scam, but my bayesian bullshit filter is triggered by the "unlike all the evil for-profit corporations, we're a white'n'fluffy company aiming for the greater good".
They have proven this by numerous contributions to FLOSS [0], releasing laptops with kill switches [1] and neutralized Intel ME [2], FSF-approved OS [3], FSF-endorsed phone [4] and so on.
[0] https://puri.sm/posts/purism-and-linux-5-13/
[2] https://puri.sm/projects/coreboot/
[3] https://www.fsf.org/news/fsf-adds-pureos-to-list-of-endorsed...
Re: Purism is seeking investment from individuals
#20I'm still waiting for my Librem phone that I pre-ordered and paid for, over four years ago.
So, no, I think I'll pass.