This can’t be legal, can it?
Trade Dollars with other startups. Book it as revenue
31–40 of 175 posts
Re: Trade Dollars with other startups. Book it as revenue
#32SEC calls this round-tripping. ASC 606 requires commercial substance — if both parties just book offsetting transactions, auditors flag the net cash flow as zero
offsetting in what horizon? I give you 100 in q4 2026 you give me 100 in q1 2027
Re: Trade Dollars with other startups. Book it as revenue
#33Anyone else getting "SSL_ERROR_NO_CYPHER_OVERLAP"
Yes. :/ GrapheneOS over here
Re: Trade Dollars with other startups. Book it as revenue
#34Re: Trade Dollars with other startups. Book it as revenue
#35Anyone else getting "SSL_ERROR_NO_CYPHER_OVERLAP"
Visiting the website's url (revswap.ai without www) redirects me to revai.com which is for sale on godaddy...
Fastest enshittification ever?
Re: Trade Dollars with other startups. Book it as revenue
#36I remember in the couple years before the dot com crash in 2000, there was a lot of satire being written which was being taken very seriously. You couldn't tell what was serious and what was humor because both were absurd.
Re: Trade Dollars with other startups. Book it as revenue
#37SEC calls this round-tripping. ASC 606 requires commercial substance — if both parties just book offsetting transactions, auditors flag the net cash flow as zero
What if they buy each other's NFTs instead?
Re: Trade Dollars with other startups. Book it as revenue
#38Domain is down?
Re: Trade Dollars with other startups. Book it as revenue
#39Obligatory Michael Lewis quote, from Boomerang (2011): > Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.
That's just a variant of this old one: Two economists are walking through a cow pasture. The first economist says to the other “I’ll pay you $100 to eat that pile of shit.” The second economist takes the $100 and eats the pile of shit. They continue walking until they come across a second pile of shit. The second economist turns to the first and says “I’ll pay you $100 to eat that pile of shit.” The first economist t…
Well while the pile of shit makes it a joke, isn't there a real advantage here of legibility?
Like you have a measure (GDP) and it can't accurate measure things unless a sale occurs. So even if the money is a wash there was an actual activity occurring in the economy and now it's recorded.
Re: Trade Dollars with other startups. Book it as revenue
#40Reminds me a bit of the NFT parody site https://nfd.miami