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this post was submitted on 13 Oct 2024
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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There's no way this works, right? It's like a 5y.o.'s idea of a gotcha.
This would be like starting a tax-exempt charity to gather up a large amount in donations and then switching to a for-profit before spending it on any charitable work and running away with the money.
the US legal system has this remarkable "little" failure mode where it is easily repurposed to be not an engine of justice, but instead of engine of enforcing whatever story you can convince someone of
(the extremely weird interaction(s) of "everything allowed except what is denied", case precedent, and the abovementioned interaction mode, result in some really fucking bad outcomes)
i'm not a lawyer and i've typed it up after 4h of sleep, trying to make sense of what tf were they thinking. they're not bagging up money, they're stealing all data they can, so it's less direct and it'd depend on how that data (unstructured, public) will be valued at. then, what a coincidence, their proprietary thing made something useful commercially, or so were they thinking. sbf went to court with less