i mean somebody has to hire minimum wage worker for 1000+ hours before it probably breaks even with equipment cost. It seems like the business is in scamming everyone with the skyrocket valuations and pocketing the salary. Then rinse and repeat.
Who did the business scam? The investors not doing their due diligence? I invest in businesses, and my responsibilities go further than signing a check.
Maybe it's your responsibility to not get scammed, but if you get scammed the fact remains that there was scamming going on, regardless of whether or not you were to blame.
This word "scam" gets thrown around so much these days that it's basically meaningless.
It's really unlikely that the failing startups described in TFA developed a food tech idea, pitched it to investors, rented space in a kitchen, etc just to scam people. It's far more likely that they were just clueless.
Be that as it may, I was addressing the curious "if it was my fault, then it wasn't a scam" logic.
If scamming isn't scamming when you to it to clueless investors, does that mean Elizabeth Holmes should be a free woman? The people she scammed didn't do any due diligence, but that doesn't make her scam any less a scam.
Elizabeth Holmes falsified data and made false representations. That is a scam. Buying a machine that turns out to not do what you need it to do is not a scam.
