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A Swede who created a $400K Indiegogo-scam

breakit.se

31–40 of 83 posts

Re: A Swede who created a $400K Indiegogo-scam

#31
post #21

SSE Student? One of the two SSE-programs is arguably the hardest program to get into in Sweden. Sometimes the Karolinska medical school has a higher entry requirement. Graduating from there usually means you are set and don't need to scam anyone for a _very_ comfortable life.

> Graduating

Yeah, that.

Re: A Swede who created a $400K Indiegogo-scam

#32
post #21

SSE Student? One of the two SSE-programs is arguably the hardest program to get into in Sweden. Sometimes the Karolinska medical school has a higher entry requirement. Graduating from there usually means you are set and don't need to scam anyone for a _very_ comfortable life.

Very comfortable might be nice.... but it sounds like this person got away without having to work and pulling in 400k and 800k in what were possibly laundered money.

That seems like what might be a more attractive thing to do / better pay off, without a lot of work.

Re: A Swede who created a $400K Indiegogo-scam

#33
post #9

> and raised in total $800.000 million from approximately 5,000 backers from around the world. I assume this is a typo? Or did a blanket raise almost a billion dollars?

https://www.kickstarter.com/projects/322231573/zen-blanket-t... ==> SEK 4,149,969 or $460,4330 USD https://www.indiegogo.com/projects/zen-blanket-the-blanket-f... ==>$806,268 so in total $1,266,728

If it was "moved" then that might mean the $460k are included in the $806k. Don't ask me how that "moving" could be done, but they explicitely said "move" and explicitely said that it collected $800k altogether. That would be surprising if it actually made the sum of both.

Re: A Swede who created a $400K Indiegogo-scam

#34
post #18

Aren't these platforms meant to protect against this kind of scam?

How can you protect against such kind of scam on such kind of platform?

An airplane can reduce the risk of falling down, but if you want to be protected(!) against falling down from the sky you shouldn't enter a big piece of metal that lifts off from the ground.

Re: A Swede who created a $400K Indiegogo-scam

#35
post #21

SSE Student? One of the two SSE-programs is arguably the hardest program to get into in Sweden. Sometimes the Karolinska medical school has a higher entry requirement. Graduating from there usually means you are set and don't need to scam anyone for a _very_ comfortable life.

One could say similar things about Stanford, and yet Theranos was created by a Stanford dropout.

Re: A Swede who created a $400K Indiegogo-scam

#37
Indiegogo in particular is super sketchy, I did a campaign with them and they had an employee there contacting me and telling me all the shady stuff they can do to help me be successful and if that I can guarantee I'll raise x amount they'll do all these extra things like put it on the front page and in the newsletter and whatnot. They let you extend campaigns forever if you arne't about to hit your goal so you can keep saying "ending soon", then if you do hit your goal, instead of ending, they will let you keep it open to ride the momentum of that, or they will then let you up (or down) the goal and change the date so you can keep catching people who want to just be able to get it, or who want to pile on to a super successful project whose goal is now 1/10 of the original so it looks even more legit. You can also back your own stuff anonymously for as high as you want, so often you'll see campaigns with like $1MM and only like 20 backers and most are anonymous or not listed and you know obviously 20 people couldn't have legitimately backed for that much.

I can't recall a lot of the other stuff you could get away with, including have no proof of concepts and just using renders and being fully funded already and such, but I had to unsubscribe from their emails it was so disgusting. You can tell if you look at their site overtime which kinds of things just stay up forever or how they instantly are over the goal and whatnot. One item stayed up for like 8 months, constantly over the goal.

Re: A Swede who created a $400K Indiegogo-scam

#38
post #23

Earlier quoted context omitted.

It will, metaphorically, if a lack of funding will kill the product (or prevent it from ever being made). Crowdfunding is a financing option, complete with the part where the financiers are exposed to risk.

You're entirely correct. I have not, however, seen anything so critical that the world would suffer if it did not come to fruition. We're no worse off if that smart water bottle never gets made. The environment might even be better for it.

You could say this about anything though, so it's not very damning criticism of Kickstarter. Also applies to Hacker News and everything, individually, at the grocery store. And all the Amazon boxes piling up on our doorstep from holiday deals.

Maybe you'd agree with that. I just never was a fan of the "oh, it's those people who are doing it wrong" as we ourselves indulge in a different set of the same thing.

Re: A Swede who created a $400K Indiegogo-scam

#40
post #33
post #9

Earlier quoted context omitted.

https://www.kickstarter.com/projects/322231573/zen-blanket-t... ==> SEK 4,149,969 or $460,4330 USD https://www.indiegogo.com/projects/zen-blanket-the-blanket-f... ==>$806,268 so in total $1,266,728

If it was "moved" then that might mean the $460k are included in the $806k. Don't ask me how that "moving" could be done, but they explicitely said "move" and explicitely said that it collected $800k altogether. That would be surprising if it actually made the sum of both.

I heard that Indiegogo allows you to include funds raised on other platforms (at least Kickstarter) in your fundraising total.
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