Ryan Sean Adams
๐ค SpeakerAppearances Over Time
Podcast Appearances
Yeah.
The worry is that, like, there are people maybe doing their best intentions.
Maybe they fucked up and they bought fraudulent shares.
But why would they still have people's money if they bought fraudulent shares?
Because it's their vehicle.
Right.
So the way to make a mistake was that you take money from friends and family, you raise an SPV, it has money in it.
You have some other promise from somebody else that they're going to sell you shares.
And then you're like, okay, great.
And then you can do one or two things.
You can do nothing and the money stays in the SPV because that's what should happen as you wait for your shares.
Or you are counting your chickens before they hatch.
And you're like, sick, I just made a boatload of money.
Let me go buy a house.
Yeah.
Or something, anything, buy a Porsche, whatever.
And then the day comes and you didn't account for the fact that you didn't actually get the shares.
Now you don't have the shares to pass back, but you spent all the money and that's the trouble.
Exactly.
Okay, that's wild.