Time for some proper due diligence/ independent auditing in our communities

[free123cc]

That's what I'm trying to get to. I'm not affiliated with bs or js at all. Neither do I have 250k lying around. But questions sure, no problem. In fact, thankfully there were questions posed that caused BS to realize his mistake in promoting such a thing. Hopefully he learned his lesson. However the hate continued towards him and honestly if you were in such a position would you act differently?

He posted a video from chofetz chaim about LH yesterday. As soon as the conversation goes personal to attack someone - that's already too much. I don't want to quote some ppl on the forums about what they think of him. But I think it went way too far.

i agree. while some of the criticism was deserved bec of the influencer angle, (as opposed to ira zlotowitz) jewish social media went too far....

[free123cc]

Can you show me where anyone here went down a rabbit hole about him being a crook?

not gonna read through 10-15 pages of comments for that, and could be i am using "not exact" langauge. but the treatment/accusations here were over the top and on jewish wats app was much much worse...

[free123cc]

So failed 1031 exchanges can be here but talking about a company that’s losing tons of money can’t?

yes. one is a general concept (not tied to any specific person).... one is a specific company with no record or even whiff of wrongdoing that you are talking about in the same conversation as wiensten!

[free123cc]

BS has a track record of playing fast and loose with facts. Been going on for years, which culminated in this Blackbird incident that *potentially* could have caused a major loss of money to many people (as I stated above - I don't believe JS is a crook, just someone who's green and inexperienced).

Him crying victim here is just comical.

Anyone who has seen his previous years worth of content knows what I'm talking about. There wasn't a particular incident that I'm referring to - it's the constant misrepresentation and misconstruing of real life. We know influencers typically aren't the most truthful (Dan aside ), but he took it to new levels.

i dont like influencers just as much as the next guy.....but no BS did not deserve what he got

[Onefishtwofish]

I think it's time to return to the original subject of the thread.

Unless something happens again I think the previous conversation should be put to rest.

[JMHO]

Unless something happens again I think the previous conversation should be put to rest.

Which conversation?

[YossieW]

not gonna read through 10-15 pages of comments for that, and could be i am using "not exact" langauge. but the treatment/accusations here were over the top and on jewish wats app was much much worse...

when you have any person or their friends/relatives make accounts to come here and try to defend the business without facts and when that fact gets pointed out to them they revert to well invest with criminals instead where does that leave you in terms of jumping to conclusions

Additionally in my opinion, the conversations would have ended much earlier if they didn't constantly say or imply that they were 100% on the up and up and the rest of us were not smart enough financially to understand

[CountValentine]

Have you ever been involved in a start up?
Or gone into something that doesn't anticipate making money on day one?

You mean like Theranos?
... or Jawbone
... or 100's+ others I can list
What do they all have in common? 

[yuneeq]

You mean like Google?
... or Facebook
... or 100's+ others I can list
What do they all have in common? 

FTFY

[CountValentine]

FTFY

You are only looking at one side. If you want to do proper due diligence you need to look at both/all sides.

[avromie7]

If you want to do proper due diligence you need to look at both sides.

100%, but the fact that a startup is not making money is in no way indicative that it's a fraud.

[yuneeq]

You are only looking at one side. If you want to do proper due diligence you need to look at both sides.

Startups include the successes, the failures, and the scams. Gparency isn’t claiming some scientific or tech breakthrough and is not in the same category as vaporware sold by liars. They are trying a new way to service borrowers, and it may either catch fire or fail. It’s run by someone with vast industry experience, but yes definitely need due diligence if you plan on investing there, it’s a startup trying to create a new business model!

[CountValentine]

I am commenting on any particular startup. Startup scams rely on the fact that startup lose/burn money at the beginning. Sometimes for many years. This is the proper thread to discuss any startup as they need the most due diligence.

[Joel]

I am commenting on any particular startup. Startup scams rely on the fact that startup lose/burn money at the beginning. Sometimes for many years. This is the proper thread to discuss any startup as they need the most due diligence.

Is it possible that a startup is loosing money and not catching on fire. instead of shutting it down they continue to burn more money?
Gparency is a very good example IMHO

[JMHO]

Is it possible that a startup is loosing money and not catching on fire. instead of shutting it down they continue to burn more money?

100%

Gparency is a very good example IMHO

Source?

[Joel]

Source?

Are we gonna talk about the 18 million dollars mostly from frum people that was raised for Gparency which seems incredibly desperate for cash?

[JMHO]

What was the anticipated burn rate and plan shared with investors and how does this line up with what's happening now? Please provide context and information before making accusations.
(FTR, I have never met IZ, nor invested in his companies)

[CountValentine]

What was the anticipated burn rate and plan shared with investors and how does this line up with what's happening now?

There seems to be a lot of confusion here. If the burn rate of any startup is exactly what they projected that does not really tell you much.

I project the burn rate for my startup will be around 1mm/mo for the first three years. After 24 months the burn rate has been about 1mm/mo. Does that mean my startup is legit?

[Joel]

What was the anticipated burn rate and plan shared with investors and how does this line up with what's happening now? Please provide context and information before making accusations.
(FTR, I have never met IZ, nor invested in his companies)

You are asking great questions.
Hopefully someone with more details can share

[knowitall]

Back on topic- Why don’t we talk about the RE deals diluting/subordinating investors by taking pref equity. Some are spinning it as “saving the deal”.