Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
1–10 of 21 posts
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#2Is this why they're looking for new leadership and the founding team is stepping down?
https://techcrunch.com/2022/11/22/pipes-founding-team-steppi...
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#3They had a program called mine now, pay later
https://www.coindesk.com/business/2022/03/22/trading-platfor...
“The financing solution is a little bit like hardware financing, but much more efficient because it's on a trading platform and diversified,” Hurst explained.
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#4In my opinion, they should also have told customers.
My company is very careful about choosing vendors, and we choose not to do business with anyone involved in crypto (for fraud/stability reasons), especially mining (for environmental reasons).
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#5Why is the tech industry (or those that raise ridiculous amounts of VC money in the millions) full of scammers and grifters?
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#6Why is the tech industry (or those that raise ridiculous amounts of VC money in the millions) full of scammers and grifters?
It’s easier to count the industries that aren’t full of scammers and grifters.
… I can’t currently think of any.
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#7Why is the tech industry (or those that raise ridiculous amounts of VC money in the millions) full of scammers and grifters?
> money in the millions
There's your answer, right there...
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#8Is this why they're looking for new leadership and the founding team is stepping down? https://techcrunch.com/2022/11/22/pipes-founding-team-steppi...
Yes, 100%
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#9Why is the tech industry (or those that raise ridiculous amounts of VC money in the millions) full of scammers and grifters?
Easy: an overabundance of buzzwords. No industry makes it easier to just throw out words that impress investors but mean nothing. And nobody involved, including the ones doing the pitch, has to have any idea what it is they are talking about.
> You see, this is where could be used to improve everything.
> Super smart people are doing amazing things with , there are thousands of applications (no I won't name any). You should invest now!
Re: Pipe CEO loaned $80M to a Bitcoin mining company, didn’t tell board
#10Absolutely no idea if they’re true but the Pipe founders are contesting these claims in the replies: