The fake vc • Hacker News Board

Re: The fake vc

#11

Post by ezrameanshelp » Mon, Feb 03, 2014, 4:15 PM UTC

loceng wrote: post #3

Dartanion7 wrote: post #2

This is absolutely insane. Why not out Fredo publicly?

It's a tough call. The behaviour isn't acceptable, and it's in fact very harmful to others - and he'll continue to do it to others until he can't. When he can't will likely be determined by a) jail time, though I'm not sure any of the behaviour mentioned is actually illegal, or b) that he has no options for work and job offers and no other possibilities because his credibility is shot. Of course from my own experienc…

Wait, all those reasons seem to point to it not being a tough call at all. The only reason not to would be fear about retribution. If you don't warn others, you are responsible for the ill that befalls them. Am I missing something?

Re: The fake vc

#12

Post by AndrewKemendo » Mon, Feb 03, 2014, 4:46 PM UTC

None of these questions or tactics will be offensive to real angel investors. In fact, they will give the real ones more confidence in you.

This is a big sticking point for first time founders because it by definition turns the tables and now the founder is the one who is challenging the supposed expert investor.

This can be tough for people to do if they aren't used to it.

Re: The fake vc

#13

Post by loceng » Mon, Feb 03, 2014, 6:55 PM UTC

ezrameanshelp wrote: post #11

loceng wrote: post #3

Earlier quoted context omitted.

It's a tough call. The behaviour isn't acceptable, and it's in fact very harmful to others - and he'll continue to do it to others until he can't. When he can't will likely be determined by a) jail time, though I'm not sure any of the behaviour mentioned is actually illegal, or b) that he has no options for work and job offers and no other possibilities because his credibility is shot. Of course from my own experienc…

Wait, all those reasons seem to point to it not being a tough call at all. The only reason not to would be fear about retribution. If you don't warn others, you are responsible for the ill that befalls them. Am I missing something?

You have to weigh out the circumstances. Does it make sense for you, in this moment, to take full responsibility for this person and all of their future actions? If you open a potential pandora's box, it's most responsible to be make yourself available to continue to help however you can. Unfortunately we don't currently have societal structures in place that really support these kinds of situations or people to be able to help them change their behaviours to less harmful ones.

Re: The fake vc

#14

Post by shaf » Mon, Feb 03, 2014, 9:24 PM UTC

netman21 wrote: post #4

This brings back very uncomfortable memories. When I was 25 I was helping a friend who was creating the first structural analysis software for the PC. I introduced my friend and his partner to this strange guy in Dearborn, Michigan. There were meetings at the airport and in his office in Dearborn. This guy claimed to be a wizard at arbitrage and arcane financial instruments. He said he worked out all the algorithms f…

I'm the author of the blog, I'm sorry to hear that. It sounds an order of magnitude worse than my story. Luckily I didn't outlay any money or hand over any important documents. It sounds like you should share your story too - I wonder if there's a place somewhere people can share startup horror stories?

Re: The fake vc

#15

Post by shaf » Mon, Feb 03, 2014, 9:28 PM UTC

Dartanion7 wrote: post #2

This is absolutely insane. Why not out Fredo publicly?

Hi Dartanion7, I wrote the post - the only reason I haven't outed him is not to protect him but he scammed a couple of other people I know too. They have developed serious anxiety and trust issues due to him - I want to protect them form being outed as a 'victim'. I don't feel it is my call to do that. However saying that, I have left enough evidence in the post for readers to put the pieces together themselves.

Re: The fake vc

#16

Post by danaseverson » Tue, Feb 04, 2014, 2:31 AM UTC

What a fascinating story. Thank you for sharing it.

I totally hear you on fact that it was hard to see at the time, but obvious now. You want to believe, which completely messes with your mind.

Re: The fake vc

#17

Post by shaf » Tue, Feb 04, 2014, 9:36 PM UTC

danaseverson wrote: post #16

What a fascinating story. Thank you for sharing it. I totally hear you on fact that it was hard to see at the time, but obvious now. You want to believe, which completely messes with your mind.

Thank you for reading it. It was very cathartic writing it, I'm just as confused as I was then but at least I can take lessons from it and share with others.