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PaulG on his failing scams (twitter.com)

submitted 7 months ago by HotGarbage@awful.systems to c/techtakes@awful.systems

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Context: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-coding-boot-camp-bloomtech-and-ceo-austen-allred-for-deceiving-students-and-hiding-loan-costs/

Surely the CFPB has ulterior motives when they set their sights on this "school" whose Wikipedia page is 2/3 controversies: https://en.m.wikipedia.org/wiki/Bloom_Institute_of_Technology

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[–] yellowcake@awful.systems 17 points 7 months ago

I used to think regulations were good and protecting us, then I became someone who wanted to take advantage of you so now regulators are bad. Let me fleece you, stop preventing it

[–] gerikson@awful.systems 15 points 7 months ago

"Are the companies I fund just scams and frauds? No, it is the regulators who are wrong."

[–] sinedpick@awful.systems 11 points 7 months ago

I'm sure Paulie G understands the necessity of regulators in a market which has real world consequences and is just being disingenuous here. If he actually believes the things he said i wouldn't care much, but he clearly knows what he's doing (as evidenced by replies). Fucking scum.

[–] Eiim@lemmy.blahaj.zone 4 points 7 months ago* (last edited 7 months ago)

Let me rephrase that: "Coinbase and Bloom Tech illustrate the dangers of ~~starting a startup~~ lying in a regulated industry."

Coinbase hasn't exactly lied, to my knowledge, grouping them with his stupid startup is pretty disingenuous, but he started it.