Author Topic: Time for some proper due diligence/ independent auditing in our communities (Read 234577 times)

Afrages6 · « **Reply #1020 on:** August 17, 2023, 04:05:33 PM »

Quote from: avromie7 on August 17, 2023, 11:44:10 AM

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

Who said anything about fraud?

aygart · « **Reply #1021 on:** August 17, 2023, 07:46:52 PM »

Quote from: free123cc on August 17, 2023, 10:05:21 AM

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...

The only ones here who wrote more than how he misrepresented things were people like you who falsely accused people of saying things they didn't. I cannot sidewalk to social media or WhatsApp. I keep away from it.

Why is it more okay for you to make these false accusations than what you are claiming to be against?

aygart · « **Reply #1022 on:** August 17, 2023, 08:00:42 PM »

Quote from: yuneeq on August 17, 2023, 11:46:17 AM

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!

The way they market some of their capital raises are inappropriate for the risk level of the investment. In this specific way they are similar to blackbird.

Euclid · « **Reply #1023 on:** August 17, 2023, 08:01:37 PM »

Quote from: aygart on August 17, 2023, 08:00:42 PM

The way they market some of their capital raises are inappropriate for the risk level of the incestuous. In this specific way they are similar to blackbird.

We need a thread for aygart typos

JMHO · « **Reply #1024 on:** August 17, 2023, 08:01:50 PM »

Quote from: Joel on August 17, 2023, 01:41:05 PM

That's the source? LOL

aygart · « **Reply #1025 on:** August 17, 2023, 08:09:47 PM »

Quote from: Euclid on August 17, 2023, 08:01:37 PM

We need a thread for aygart typos

Lol

Corvettes

I mean corrected

WayBackMachine · « **Reply #1026 on:** August 17, 2023, 08:17:34 PM »

Afrages6 · « **Reply #1027 on:** August 17, 2023, 08:19:38 PM »

Quote from: JMHO on August 17, 2023, 08:01:50 PM

That's the source? LOL

This was the dream he was selling

JMHO · « **Reply #1028 on:** August 17, 2023, 08:39:48 PM »

What changed? Can you please provide more information?

Joel · « **Reply #1029 on:** August 17, 2023, 08:46:42 PM »

Quote from: JMHO on August 17, 2023, 08:39:48 PM

What changed? Can you please provide more information?

They are desperate for investors and desperate for cash at this point when do we say this startup isn't going anywhere and stop burning cash?
Also side point if anyone can explain me how 4k a deal will be profitable I am all ears this thread is after all DD.

Afrages6 · « **Reply #1030 on:** August 17, 2023, 08:51:29 PM »

Quote from: JMHO on August 17, 2023, 08:39:48 PM

What changed? Can you please provide more information?

What changed is that he needed to raise 12 million dollars in January at a 85 million dollar valuation (approximately 43x revenue) to get through the year. He barely got to 6.. I’ve watched every one of his videos (before he stopped making them public). Recently his main sales guys were offering products for 100 dollars on LinkedIn. I’ve heard that he’s been laying off workers daily.

yuneeq · « **Reply #1031 on:** August 18, 2023, 10:17:10 AM »

Quote from: Joel on August 17, 2023, 08:46:42 PM

They are desperate for investors and desperate for cash at this point when do we say this startup isn't going anywhere and stop burning cash?
Also side point if anyone can explain me how 4k a deal will be profitable I am all ears this thread is after all DD.

From what I understand, to use their services you have to pay $11k annually, and then $4k per deal. And for that rate you’ll use them for multiple deals instead of going direct with the lender. Do borrowers still pay if deal falls through?

In the past I’ve seen him post the the math behind his projections and how it compares to a conventional brokerage.

I know they also invested in developing tech to assist real estate investors, but I have no idea if the market finds it worth paying for.

Afrages6 · « **Reply #1032 on:** August 18, 2023, 10:33:36 AM »

Quote from: yuneeq on August 18, 2023, 10:17:10 AM

From what I understand, to use their services you have to pay $11k annually, and then $4k per deal. And for that rate you’ll use them for multiple deals instead of going direct with the lender. Do borrowers still pay if deal falls through?

In the past I’ve seen him post the the math behind his projections and how it compares to a conventional brokerage.

I know they also invested in developing tech to assist real estate investors, but I have no idea if the market finds it worth paying for.

They said they needed 400 contracts a month to break even. I don’t think any brokerage was signing 400 contracts a month.

Redbull3 · « **Reply #1033 on:** August 18, 2023, 10:54:56 AM »

Huge caveat that I'm not exactly in the target community for most of these offerings, but I've followed this whole thread, and seems to me we're all over the place - from claims of outright fraud, to misrepresentations (ie, lies), and now to heavy handed but not dishonest per se, marketing tactics.
Everyone seems to agree that we shouldn't blindly trust based on affinity, and should encourage due diligence in all these categories.
We have the American Legal system which honestly helps - you aren't allowed to outright lie in your marketing, but sure you can describe your "goals" and "targets" - there's nothing being promised there, if you understand English. The accredited investor concept is also there to protect the consumer.