pyramid scheme
How Prankster Oobah Butler Convinced Venture Capitalists to Give Him Over 1 Million
Not long into his new documentary, Oobah Butler tells the cofounder of his newly minted company, Drops, that they should create a piece of luxury luggage that "looks like a bomb" and will sell for $200,000. Immediately, I'm thinking his quest to get £1 million in 90 days might have come to an early end. Butler is a British prankster documentarian who is known for his stunts, like managing to get Amazon to sell its drivers' urine as energy drinks or creating a fake restaurant called the Shed and gaming TripAdvisor to make it the top-rated London restaurant on the platform. His latest documentary, made for the UK's Channel 4, is called How I Made £1 Million in 90 Days Set in London and New York, it takes on the worlds of startups, venture capital, crypto, and what ultimately comes across as a lot of bullshitting, in the name of striking it rich quick. Butler opens the film by saying, as someone who didn't grow up with money and isn't particularly motivated by it, he's fascinated by the fact that people "idolize" wealthy entrepreneurs.
How Artificial Intelligence Helps Police Catch Ponzi Schemes?
Seoul Special Judicial Police Bureau for Public Safety arrested the CEOs and key players of a cryptocurrency pyramid scheme using the help of AI (Artificial Intelligence) last Thursday. The two main suspects known as Lee and Bae stole a total of 21.2 billion won ($18.3 million in US-Dollars) in a span of 6 months - 12 people were arrested in total. The South Korean police reported the CEOs of this company set up a "members only" shopping website and cryptocurrency exchange in May 2018. The site recruited members for an annual fee of 330,000 won ($288), or a "premium" membership fee of 990,000 won ($864). It also offered 10-year memberships with discounts on hotels, leisures, and on events like weddings and funerals.