Elio Crowdfunding

[bowers baldwin]

Woo Hoo! I'm in the top 1% globally!!!! We all are. (Well, at least in the top 10%). Let's celebrate!

How much do you need to earn to be among the top 1% of the world?
$34,000.
That was the finding World Bank economist Branko Milanovic presented in his 2010 book The Haves and the Have-Nots. Going down the distribution ladder may be just as surprising. To be in the top half of the globe, you need to earn just $1,225 a year. For the top 20%, it's $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000.

71% of the world's population lives on less than $10 a day

http://money.cnn.com/2015/07/08/news/economy/global-low-income/

 

[Devilstower]

The way the values for both cash and contributors flicked back and forth for a while makes me suspect that someone launched a scripted attack. Not quite a DDOS, just a quiet little box somewhere, running through its paces over, and over, and over.

StartEngine is still a relatively new site, and this is likely one of the first campaigns to draw attention their way. As they were set up initially, it was rather trivial to script a bit that would create an email account, create a StartEngine account, confirm the email, and make a bid. That StartEngine appears to have inserted an additional "captcha" into the process indicates that something like this might have been going on. It also seems they're looking at patterns of email IDs to ferret out bad accounts. Likely this will get automated shortly so that it stops the account from being generated in the first place.

What Elio is going through now will help tighten the screws at StartEngine so that future campaigns come through with less bother.

 

[Ekh]

Woo Hoo! I'm in the top 1% globally!!!! We all are. (Well, at least in the top 10%). Let's celebrate!

How much do you need to earn to be among the top 1% of the world?
$34,000.
That was the finding World Bank economist Branko Milanovic presented in his 2010 book The Haves and the Have-Nots. Going down the distribution ladder may be just as surprising. To be in the top half of the globe, you need to earn just $1,225 a year. For the top 20%, it's $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000.

THAT is stomach-turning. Whoof!

 

[Chris F]

disclaimer - I'm not a lawyer, nor do I play one on TV .... I can see the validity of the above .... on the other hand, there were terms (example the 10% of income provision) that the person had to agree to so as to participate in the program .... if it can be shown that individuals drastically violated that agreement, I can see fraud and/or justification for other violations

Its all about intent.

 

[Chris F]

Yes, great idea! Pull them away from investigating real issues such as the people stealing millions on wall street on the daily from peoples retirement accounts all so Elio can file a civil suit since were in America!

Its involves us thus its the most important thing in the world and must be pursued, lets lobby Elio to do civil suits for StartEngines poor validation! How about YouTubes age validation where all the kiddos can easily say they are 18+? Hey, well were at it ElioOwners should sue me for wasting Kilobyte on their hard drive!

Good ol America, where an inhaler ($5 over the counter elsewhere) retails for $79, or for just one payment of $20*
(*plus a $200/month + $800/month employer contribution premium to health insurance, tax, title, registration, excess fees, administration fees, dealer fees and homeland security fees are not included, please speak to your representative for more information and have your credit card ready, no cash on deliveries)

SEC enforcement action doesn't involve the company as a plaintiff.

 

[Chris F]

I agree,

Investors would like to see what kind of price tag (valuation) PE puts on this offering, before making their final decision. That is critical information. Until then, it's probably their best guess how much they are ready to invest.

If the intent was to either manipulate or interfere with the offering, it could be a fraud. Its all about intent. It looks like they had millions of dollars of fraudulent "expressions of interest."

 

[Chris F]

Its all about intent.

And I am a securities lawyer.

 

[JEBar]

And I am a securities lawyer.

just wondering .... based on your experience, what would be the best way to proceed so as to determine if prosecutable laws have been broken

 

[Hightech]

just wondering .... based on your experience, what would be the best way to proceed so as to determine if prosecutable laws have been broken

Wow is this real life?

 

[JEBar]

Wow is this real life?

guess that spending a career working in NC's prison system influences my thinking in things like this .... I have no doubt that the haters (for lack of a stronger term) who sit alone in front of their computers and do things like this pay little thought to the fact there could be consequences for their action .... if so it could send a message to others interested in the same type of behavior