111–113 of 113 posts
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That's not how the law works. It's a California law that applies nationwide. (Read the link.)
Then you don't do business in california for the time being until you get that funding to pay for all the paperwork.
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Since you brought it up, I'm gonna say it: Facecash is a bad idea, poorly executed. None of the 4+ apps that you are offering are compelling. The basic POS thing is never going to work. It's not obviously better but involves set up by both the buyer and seller. And it's kinds of weird ("Sign with your face"??). But then there's a loyalty scheme layered on top. But without any traction on either side, that's not going…
Thanks for your feedback. It's pretty clear that despite your background you don't understand what we're doing.
Pro tip: lose the fixation on legal matters and radically simplify your setup processes (10 clicks to approve the TOS!!??)(that's my background talking).
It's a good essay. The only problem is that it's Peter Thiel behind it. The problem isn't just that "we got 140 characters." The problem is that Peter Thiel asked for it by investing in and therefore promulgating Mark Zuckerberg's vision of ubiquitous irrelevance. I think he's right that VC is destroying itself by investing in what I have often referred to as trivial nonsense, but he and his firm are part of the prob…
> I'm doing serious work and my company has been rejected by sixty (that's six-zero) VC firms in the past five years. I just want to burn some HN points here to tell you that you're not alone, and that there are a lot of other people out there that are terribly frustrated by this. Investors are primarily in it to make money. They're optimizing for returns. When you have a choice between a company that will spend rela…
The consumer internet startups FF funded were often intended to become something more than they turned into. Slide was supposed to be about cross-site predictive analytics on a massive scale. Silly widgets were just the data capture vector. Frogmetrics (my FF-funded YC startup) had similar ambitions for the real world. Both companies fell way short of our secret ambitions, but not for lack of effort.
Also, many of FF's most interesting investments aren't on the site for secrecy reasons.
One more anecdote:
Last year, when I told some VC friends that I was working on strong AI as a startup, they laughed. When I told Luke and Brian at Founders Fund, they said they wanted to invest. It's obviously too early to say whether we'll meet the same fate as past AI companies, but we're off to a good start (http://vicariousinc.com/), and that's thanks to Founders Fund taking the kinds of risks they discuss in the article.