I was going to cover this in a follow-up article, but yeah, there are network of token brokers who buy unused credits from startups and then resell them.
replyI should have added that I ran my first startup in India for 8 years before moving to the states, that's why I have an insider view.
replyA bit like setting up a supermarket that just sells another competing supermarket's "free fruit for kids" fruit.
replyVideo influence pipelines from India huh?
replyNo wonder social media is so shit nowadays. All that brainwashing and propaganda from third world countries, now at 4% the price!
the in India wasnt even needed no worries
replySome countries have more complexity to registering a new company than others, and perhaps it’s the establishment of a new legal entity that is an unlocker to the free credits.
replyI don’t know if that’s true of India or not, but I like to give comment authors the benefit of the doubt that being specific about the geography was helpful context here
India is very bureaucratic and slow for starting a new business new entity. It ranked 63rd on the most recent world bank survey of 2020[1], and it is even more painful to close one.
reply[1 ]https://openknowledge.worldbank.org/entities/publication/130...
So that report was discontinued after relatively proven statistical gaming and interference by several countries, doesn’t exist post 2020.
Post 2020 SPICE+ launched making registration trivially fast. However really the trick isn’t creating and closing companies, it’s that the fact majority of reporting that would catch scam companies like these just get ignored and gather small civil penalties payable years later or not at all, while keeping up with major reporting that might close their bank accounts… it’s a very disorganised system that facilitates a lot of unpleasant activity.
replyWhat's the scam? Generally a country's governance system wouldn't get involved in a dispute this trivial between a foreign company and an individual.
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