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Comment Re:Where's my refund then? (personal anecdote!) (Score 1) 278

Yeah, and the victims won't see a penny of it either. What should have happened was the Marriot charged with full refunds with interest to those they scammed. I'm quite certain they would have financial records of them.

With a punitive fine of 5x that amount to discourage such behaviour in the future.

Comment Re:Perjury (Score 0) 191

Yes but there still has to be the right to defend yourself. If you take away the means by which I can pay lawyers, my funds, then I can't get the best legal representation.

You have the right to legal representation regardless of your financial standing. Do you know what they call the guy who barely passed the bar exam by one point? Your state provided legal representation.

Comment Re:All this because Clang went Clunk? (Score 1) 203

Kickstarter isn't a random third party. As the great-grandparent said, they're essentially assuming the role of the stock exchange - as the middleman and facilitator of the process. Thus they have an interest in seeing that the process is transparent and to some degree regulated.

I disagree. I see Kickstarter as just a middleman that facilitates the introduction between idea people seeking funding and a pooled collection of small angel investors. Like all middlemen, they take a percentage for making the the introduction if it works out, but after that they are not involved.

The issue that I have with this model is that most people throwing money at projects don't understand the amount of risk they are assuming and probably don't have the necessary background to even evaluate that risk. They just see a chance to get in early on some new game/gadget/service without realizing that their prize may never appear.

Comment Re:Nope they are clever (Score 1) 336

And, if you want to look at the causes for Visa and MasterCard's decision... the biggest single factor was almost certainly the deployment of Google Wallet, which moved NFC payment in the US from a "someday" possibility to "people are using it now". At the end of the day, Apple Pay will owe most of it's success to Google.

The biggest single factor was the shift to chip and PIN in Europe. That drove a large volume of card fraud to the US where card swipe and track 2 authentication was still the norm.

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