It's depressing that most startups fail whereas some rich kid can just scam people into giving him money to make his startup "successful".
'Tech entrepreneur took our money but failed to deliver our startup dreams'
11–20 of 67 posts
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#12>> So don't tell the client that it cannot be done because we'll find [a contractor] that can do it when they've paid As a software developer (who did contract work in the past). I think this is actually sound logic within certain parameters... Sometimes clients do ask for impossible or infeasible things. But in most cases, the constraints are money and skills. Someone who is good at sales should not have to reject c…
"It's not impossible, you are just obstinate. Get it done or we find someone with more skills"
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#13> Eventually, she requested a refund through her bank and complained to the UK's Financial Ombudsman Service. A senior investigator there has provisionally recommended that the bank return $39,000 (£30,000) to Amy, according to documents seen by the BBC. She is still waiting for her bank to agree to the recommendation. Glad that this is possible in the UK. There are a ton of folks in Dubai itself who have fallen to s…
How does that work? Her bank is responsible for the delivery of services she agrees on with third parties in other countries?
I honestly don't know. That's why I'm surprised the UK actually has provisions for clawing back funds. Maybe they put adequate pressure on the Dubai-based banks to reverse the transfer?
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#14The best thing about tech is that technology becomes a commodity very quickly. Now you don't need to pay huge sums of money to these consultant grifters any more as now AI tools like Cursor, Windsurf, Devin, Bolt, Lovable and Replit can build these apps and websites for you almost for free. I nearly signed off a six figure deal for someone to make an app for us and we instead went down the AI tools route after some e…
Don’t get it. Cheaper ways of doing software have been always available; that doesn’t mean they are the best way. You get what you pay for, as usual. Anybody thinking that 2025 AI is some sort of magical “free lunch” device, is just delusional.
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#15There is some talent to pull in customers for sure, but the dude has no interest in delivering and just lies about the possibilities.
cf bait and switch, pervasive moral hazard of poorly regulated markets, and I include major stock exchanges in that. Anyone can sell anyone an attractive lie (and this goes beyond economics to include e.g. voter preferences), but that is not a particular "talent", more the mark of a sociopath.
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#16> Eventually, she requested a refund through her bank and complained to the UK's Financial Ombudsman Service. A senior investigator there has provisionally recommended that the bank return $39,000 (£30,000) to Amy, according to documents seen by the BBC. She is still waiting for her bank to agree to the recommendation. Glad that this is possible in the UK. There are a ton of folks in Dubai itself who have fallen to s…
And guess who is paying for her mistake? Everyone except the perpetrator. That bank refund comes from somewhere.
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#17> Eventually, she requested a refund through her bank and complained to the UK's Financial Ombudsman Service. A senior investigator there has provisionally recommended that the bank return $39,000 (£30,000) to Amy, according to documents seen by the BBC. She is still waiting for her bank to agree to the recommendation. Glad that this is possible in the UK. There are a ton of folks in Dubai itself who have fallen to s…
I whole heartedly disagree. This guy is clearly a crook, I feel horrible for the woman but this is basic B2B contracts. Banks shouldn’t be the arbiter of B2B contract terms.
I am very curious about who’s downvoting this; do people really think it’s the bank’s responsibility?
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#18The best thing about tech is that technology becomes a commodity very quickly. Now you don't need to pay huge sums of money to these consultant grifters any more as now AI tools like Cursor, Windsurf, Devin, Bolt, Lovable and Replit can build these apps and websites for you almost for free. I nearly signed off a six figure deal for someone to make an app for us and we instead went down the AI tools route after some e…
Don’t get it. Cheaper ways of doing software have been always available; that doesn’t mean they are the best way. You get what you pay for, as usual. Anybody thinking that 2025 AI is some sort of magical “free lunch” device, is just delusional.
Agreed, either you get bit by your choice early on and can’t ship, or you ship and get bit later when trying to maintain the puddle of guck you just shipped.
If you don’t know how to do it, you don’t know how to do it. Learn how to do it.
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#19> Eventually, she requested a refund through her bank and complained to the UK's Financial Ombudsman Service. A senior investigator there has provisionally recommended that the bank return $39,000 (£30,000) to Amy, according to documents seen by the BBC. She is still waiting for her bank to agree to the recommendation. Glad that this is possible in the UK. There are a ton of folks in Dubai itself who have fallen to s…
Except that she still hasn't received the money back yet
Re: 'Tech entrepreneur took our money but failed to deliver our startup dreams'
#20I never get why these types always end up running such naked scams - he’s clearly got a gift for sales, with a decent technical founder to back him up, they could be rolling in dough without failing to deliver the actual product