Silicon Valley Hustle: Former Motionloft CEO Accused Of Defrauding Investors

Re:Silicon Valley Hustle: Former Motionloft CEO Accused Of D... by saumil07 on Tuesday December 31, 2013 @04:45AM (#6989807)

Founders of early stage startups (as in, not AirBnB or Square or other companies clearly in torrid scaling mode) heading to Vegas frequently on chartered planes?

Yeah that doesn't scream RED FLAG at all.

I am honestly shocked at how poorly understood early stage startups really are if this is true. Any half-decent founder knows to be frugal, treat every dollar like it's their last and loses sleep over money in the bank (God knows I do and have been for 3+ years after raising $5M+).

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Re:Silicon Valley Hustle: Former Motionloft CEO Accused Of D... by mathattack on Tuesday December 31, 2013 @09:53AM (#6990682)

I've seen exact scam before. Young people flying on private jets with so-called hot shot young entrepreneurs, only to find all the expenses on their credit cards. There is no such thing as a free lunch.

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