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Re:People say they can't get their money out of Yotta Saving... by JumpCrisscross on Monday June 03, 2024 @05:46PM (#40567936)
Yotta's middleman went bankrupt in early May [1].

They were apparently bad at keeping track of their money, with "tens of millions of dollars are unaccounted for," despite some "partners of its venture backers such as Andreessen Horowitz" having allegedly been "aware of such discrepancies" [2].

[1] https://www.cnbc.com/2024/06/01/synapse-bankruptcy-yotta-acc...

[2] https://www.theinformation.com/articles/inside-the-collapse-...

Re:People say they can't get their money out of Yotta Saving... by CyberDildonics on Monday June 03, 2024 @07:33PM (#40568975)
Coffeezilla (a youtuber that investigates scams) mentioned $150 million in his video.

https://www.youtube.com/watch?v=bBUkajbg688

Re:People say they can't get their money out of Yotta Saving... by reducesuffering on Monday June 03, 2024 @06:04PM (#40568127)
Meanwhile Synapse founder CEO is spending time on twitter telling frustrated depositors:

"I am sorry, I should not have called you an idiot. That wasn't nice. You are a moron."

from the Greek island of Santorini.

https://x.com/sankaet/status/1790563922732544367

Re:People say they can't get their money out of Yotta Saving... by JumpCrisscross on Monday June 03, 2024 @06:05PM (#40568134)
Wow, "CEO Sankaet Pathak called into the bankruptcy hearing from Santorini island in Greece, and the general counsel Tracey Guerin was in Rome" [1]. Someone at the DoJ is going to make a career out of this guy.

[1] https://prospect.org/justice/2024-05-24-judge-appoints-trust...

Re:People say they can't get their money out of Yotta Saving... by localfirst on Monday June 03, 2024 @07:11PM (#40568780)
Whenever I see this type of bravado I always assume they are putting on a brave face because things are far worse than they appear. It's the cavalier attitude towards taking other peoples money.

Unbelievable.

Re:People say they can't get their money out of Yotta Saving... by hooverd on Monday June 03, 2024 @10:00PM (#40569962)
Or stimulants. Adderall bravado is real and explains a lot.
Re:People say they can't get their money out of Yotta Saving... by localfirst on Monday June 03, 2024 @11:58PM (#40570541)
adderall...in powder format
Re:People say they can't get their money out of Yotta Saving... by hooverd on Tuesday June 04, 2024 @01:03PM (#40576685)
Powdderall? I thought everyone was doing amphetamines instead of cocaine these days.
Re:People say they can't get their money out of Yotta Saving... by novia on Tuesday June 04, 2024 @12:24AM (#40570672)
Hey, can you go into this more? When I search Adderall bravado online, your post is the top result. I have a friend whose behavior changed wildly after being prescribed Adderall, so I am interested in learning more.
Re:People say they can't get their money out of Yotta Saving... by throwinway on Tuesday June 04, 2024 @04:04AM (#40571871)
Disclaimer: I am not diagnosed but believe I have ADHD.

I use Vyvanse casually and when it’s active in my system I go from a very timid and shy person to a public speaker.

I’ve been working on my anxiety separately, but even at its worst I could pop one pill and it would disappear. I could go up to strangers and talk to them about anything, or I could stand up in the middle of a mall and call for everyone’s attention.

It was very cathartic as someone who has suffered from anxiety (at least) for a long time. Some of that feeling lasts for a while too. I regret not trying medication to fix some of my mental health issues before and I’d love to be on a prescription right now. I really think taking it consistently could change my life.

Re:People say they can't get their money out of Yotta Saving... by popcalc on Tuesday June 04, 2024 @08:35AM (#40573856)
I find caffeine has a very similar effect.
Re:People say they can't get their money out of Yotta Saving... by throwinway on Tuesday June 04, 2024 @09:22AM (#40574344)
Interesting, not a coffee drinker but energy drinks don’t do much for me other than keep me awake.
Re:People say they can't get their money out of Yotta Saving... by hooverd on Tuesday June 04, 2024 @09:37AM (#40574503)
Stimulants make your brain go brrr. I know they increase dopamine levels and so on, but I have no idea how that translates into personality. I think a friend coined the term talking about SBF. I also know they can cause mania in people with BPD.

From personal experience, they make you feel like you're on top of the world. You can get so much done. Although obviously in some people they just help you focus a normal amount.

Re:People say they can't get their money out of Yotta Saving... by nytesky on Tuesday June 04, 2024 @12:50AM (#40570800)
What exactly is the context here? He’s calling his (former?) customers/litigants idiots and morons? I must be misreading the framing here…
Re:People say they can't get their money out of Yotta Saving... by reducesuffering on Tuesday June 04, 2024 @01:02AM (#40570858)
He's calling a specific customer an idiot and moron.

Someone who's funds are probably locked up right now posted an interview that the Synapse founder did, saying that doing podcasts "in the middle of the lunacy" is absolutely insane.

Founder replies "this was BEFORE the deal fell apart, you are such an absolute idiot" to that...

Although, that customer is right it's insane to be going on podcasts and Greek weddings when you have thousands of customers out millions of $...

Then in the podcast, this founder doesn't even take any responsibility! He's saying it's some investors fault! That he had a $100m term sheet, where he was going to use investor capital to buy a bank charter and that's how his company was going to work. (nvm that it's purely self-interested, you have a $0 company right now, but you'd sure like 20% of a $200m company with $100m in the bank instead) Like, you already burned $50m of investors money with nothing but peoples frozen accounts to show for it, and you're surprised when they don't want to throw another $100m?

Re:People say they can't get their money out of Yotta Saving... by ilrwbwrkhv on Monday June 03, 2024 @10:38PM (#40570160)
Andreessen Horowitz is a known grifter and scammer. I don't know why anyone associates his firm with anything well thought out instead of a pyramid scheme. Just because he can famoozle big money out of old pension funds doesn't mean he knows much about startups.
Re:People say they can't get their money out of Yotta Saving... by dpiers on Monday June 03, 2024 @11:22PM (#40570379)
It seems you are under the impression that the venture capital firm cofounder by Marc Andreessen and Ben Horowitz was created by a single individual.

If you can’t get basic facts correct no one is going to take your other claims seriously. A16Z has a diverse portfolio of investments and are as famous as they are because of how successful their companies have been.

Re:People say they can't get their money out of Yotta Saving... by ilrwbwrkhv on Tuesday June 04, 2024 @12:56AM (#40570830)
I just losely refer to both of them and their collective grifts under that name.
Re:People say they can't get their money out of Yotta Saving... by donkers on Monday June 03, 2024 @11:22PM (#40570380)
What? Andreessen Horowitz isn’t a person.