George William HerbertApr 15, 2023
Koen Hufkens, PhD

“The Forbes 30 Under 30 have collectively raised $5.3B in funding,” the tech entrepreneur Chris Bakke tweeted on Tuesday. “The Forbes 30 Under 30 have also been arrested for frauds and scams worth over $18.5B. Incredible track record.” ... the line between innovator and fraudster seems to have become alarmingly thin.

https://www.theguardian.com/business/2023/apr/06/forbes-30-under-30-tech-finance-prison

30 under 30-year sentences: why so many of Forbes’ young heroes face jail

Ex-CEO Charlie Javice, 31, is just the latest from the magazine’s list to see criminal charges

The Guardian
Apr 15, 2023 at 9:25pmWeb
Show threadRMApr 15, 2023
@koen_hufkens thanks for sharing that!
Show threadDan YoderApr 15, 2023
@koen_hufkens we need a new metric for this. FOI? (fraud on investment)
Show threadCwalityApr 15, 2023
@koen_hufkens I love Patrick Boyle’s take on it https://youtu.be/V36kSqwjaaw
Forbes Has a Fraud Problem!

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Show threadLiggs17Apr 15, 2023
@koen_hufkens “Fake it ‘til you make it!” Amirite? Anyone…?
Show threadFrances LarinaApr 15, 2023

@koen_hufkens

Perhaps it's very simple and our capitalist, consumerist, competition-celebrating society makes "heroes" out of the wrong people.

Show threadFahri Reza 🍉Apr 16, 2023
@koen_hufkens *cough Elon *cough
Show threadAral BalkanApr 16, 2023
@koen_hufkens Ah, capitalism… when it’s not busy enclosing the commons, squeezing labour dry, and burning the environment for profit, it’s just a bunch of Ponzi schemes in a trench coat.
Show threadPēteris KrišjānisApr 16, 2023
@koen_hufkens that line? Never really existed tbh.
Show threadGabbo the wafrn dev guyApr 16, 2023
@[email protected] is what you get when yoy have to pay to get to the list
Show threadTonio LoewaldApr 16, 2023
@koen_hufkens move fast and fake it til you break it.
Show threadsudonymouseApr 16, 2023
@koen_hufkens "move fast and break things" vs "break things and move fast". Also, "heroes".
Show threadBob HarveyApr 16, 2023

@koen_hufkens

I suspect there are historical precidents
George Hudson, 'the railway king,' springs to mind.

Show threadJesuis  JedničkaApr 16, 2023
@koen_hufkens I guess they look at their role model (like Musk) and realize that if you manage to get big enough you can get away with that (become too big to fail). So eventially that list includes those which failed to get big enough fast enough.
Show threadPär BjörklundApr 16, 2023
@koen_hufkens so the take away is that Forbes 30 under 30 is roughly 3 times better at fraud than raising capital
Show threadJGWApr 16, 2023
@koen_hufkens
What line?
Show threadPersonneApr 16, 2023
@koen_hufkens there's a line?!
Show threadIwillyeahApr 16, 2023
@koen_hufkens I imagine it's because the VC industry thrives on big promises of innovation more than actual innovation. They basically beg grifters to apply and reward those with the shiniest grift.
Show threadmsgbiApr 16, 2023
@koen_hufkens @charles_ex
Show threadMatt SqwrlApr 16, 2023
@koen_hufkens But it's *innovative* fraud!
Show threadSteffen ChristensenApr 16, 2023
@koen_hufkens The subtitle on this is genius, "30 under 30-year sentences: why so many of Forbes’ young heroes face jail".
Show threadPaul CantrellApr 16, 2023
@koen_hufkens @mmasnick
Many among us in the engineering ranks have been saying this for years. Decades. Annoyed it took people so long to catch on; cautiously optimistic that they finally seem to be.
Show threadSean GApr 16, 2023
@koen_hufkens Please CW news and politics
Show threadSarah T. Roberts, Ph.D.Apr 16, 2023
@koen_hufkens @iBlame Maybe “college dropout” as a badge of honor for these, ahem, entrepreneurs could also be addressed.
Show threadJuan LuisApr 16, 2023

@koen_hufkens "JPMorgan, which has about 240,000 employees and pays its CEO $34.5m for his expertise, didn’t seem to spot this in its due diligence."

🌶️

Show threadshyduroffApr 17, 2023
@koen_hufkens … alarmingly thin …
Show threadsolientApr 17, 2023
@koen_hufkens what line? It feels like a distinction without a difference these days.
Show threadStr8ngerApr 17, 2023

@koen_hufkens a lifelong, criminal fraudster was elected to the highest office & is still the presumptive GOP nominee (despite numerous impeachments, investigations, indictments, arrest, etc)… so is it really a surprise? 🤷🏻‍♀️

#Grifting has become what makes america “great.” SAD! 🤡