[xyst]

He didn’t “convince” them of anything. He used family connections and those initial investors didn’t do any DD. Other investors noticed those investors put in some money and did the same. Cryptocurrency was also a buzzword so it was an easy sell. It was less of a “con” and more of privilege. And taking advantage of greed.

Same thing happened with that one woman that ran “Theranos”. Just know the right people. Although I think she was a slightly better public speaker. The yoda voice shit was weird though.

[steveBK123]

It's disappointing seeing how many of these startup frauds are basically connections laundering at inception. Makes you wonder what % of successful startups are the same (far from 0).