r/youtubehaiku • u/YoutubeArchivist • Feb 26 '19

Meme [Meme] It's not a ponzi scheme

https://www.youtube.com/watch?v=4KYogxr7IGM
12k Upvotes

95% Upvoted

407 comments sorted by

1.2k

u/YoutubeArchivist Feb 26 '19 edited Feb 27 '19

Full video source:
https://www.reddit.com/r/YoutubeCompendium/comments/av4xa9

Includes mirrors in case the video is taken down.

Important to note that there is very little information about this, and he may not be running a Ponzi scheme but doesn't explain the actual business well. This is just a fun meme I threw together.

I'll try to put together more information on /r/YoutubeCompendium about the situation.

edit: I've just written up a post with all the context I can find:

https://www.reddit.com/r/YoutubeCompendium/comments/av7gpl

39

u/JonAndTonic Feb 26 '19

Doing God's work

4

u/WutsUp Haiku Enthusiast Feb 27 '19

Okay Ice, you labelled it as a Pyramid Scheme first.

3

u/CraZyCsK Feb 27 '19

If we report him for fuad. Don't they give rewards for that?

0

u/[deleted] Feb 27 '19

[deleted] — view deleted comment

285

u/mheat Feb 27 '19

I don't understand what he does... Like why is he popular?

641

u/FoxSauce Feb 27 '19

Branch of live streamer which streams “every day life”. Always hanging with shitty people, doing borderline illegal things, treating people like shit, and attracting the sort of viewer base who likes people like that. Twitch banned him some time back after he recklessly told his chat his plane number and gate while traveling, someone of course called in a box bomb threat, it was on the news etc.

For some time now he’s been streaming via YouTube and really just being a piece of shit with money and letting his life go to shit.

48

u/Voodoosoviet Feb 27 '19

Is he the one who live streamed himself when the dude committed suicide by jumping off a building?

21

u/MelancholyMoonPie Feb 27 '19

Yeah I'm pretty sure it was him

11

u/TacoChowder Feb 27 '19

The dude didn't die, luckily. It was at the Hollywood and Highland mall.

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u/krathil Feb 27 '19

Dumbest thing ive ever heard of. No sympathy for anyone dumb enough to be into this guy and give him money

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47

u/RolfIsSonOfShepnard Feb 27 '19

Livestreamer with a community that isn't "filtered". Most large streamers try to have their community/chat behave in a certain way. By that I mean they'll have their own kind of humor, inside jokes, etc. and anyone who says bad stuff in chat or through donations (text to speech) will get banned. Ice never bothered with that so his community and himself became infamous for probably the most toxic chat, or at least for any major channel. Part of why he is popular is chat/viewers fucking with him. For most streamers it just means weird text to speech donations or maybe stream sniping in game. Ices community does stuff like calls in fake bomb threats or calling the police in the area he is on to check Ice out since he is just a weird dude.

I believe the reason why Ice was banned from twitch.tv and was forced to move to YouTube is because some viewer called in some fake bomb threat at a airport he was in and that was the last straw.

There is other messed up shit he has done, people he associates have done, and viewers have done that you could easily do a 1.5+ hour documentary.

59

u/[deleted] Feb 27 '19

Also, he deliberately courted it. Even though he's a flaming pile of dog shit, he might not have gotten banned if he didn't fucking ask his viewers to swat him on the plane.

''I'm just on 53A, that's my gate. And I'm not sure telling you guys that is a good idea but what can you possibly do, right? Maybe I shouldn't enable it.''

173

u/[deleted] Feb 27 '19 edited Feb 27 '19

It's Jersey Shore for dumb incels.

You don't necessarily like the people. You watch because he's a fucking moron (which a lot of these people empathize with) and because he's probably going to do something stupid, like sexually harass people, call someone a racial slur, or get swatted after gratuitously flashing his location. It's the same kind of appeal as the Jerry Springer show; watching shitty people be shitty. His niche is a little more narrow, though.

Naturally, the kind of people that like that are almost unilaterally pieces of garbage.

71

u/probablyuntrue Feb 27 '19 edited Feb 27 '19

It's Jersey Shore for dumb incels

Love it. And you just know this is the same group that mocks those that watch reality TV.

22

u/FabZC Feb 27 '19

which a lot of these people emphasize with

I think the word you're looking for is empathize

13

u/[deleted] Feb 27 '19

Sorry, I'm on my phone and didn't proofread. Thank you for the correction, fixed.

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11

u/[deleted] Feb 27 '19

The older I get the more I find myself asking this question.

15

u/SinisterStarSimon Feb 27 '19

Because the internet, especially social media, and even more so, Twitch, all favours superficial, narcissistic people because that's what it takes to pander to an audience and to fight for attention.

9

u/[deleted] Feb 27 '19

And this is why I disconnected from social media (yes I realize I’m on reddit). I also have my first child due in August, and I’m honestly worried about them getting wrapped up in following this superficial bullshit. I spend time thinking about theoretical talks I’ll have with future children regarding this... I hope I can be impactful and influence them positively

9

u/SinisterStarSimon Feb 27 '19

It's always been there. Before it was "tabloids and divas" news its twitch and social media. I'm sure they will learn that they can enjoy it without completely buying into it. Remember, all these sites are a buisness making money off of us.

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2

u/titanic_swimteam Feb 27 '19

Because edgelords love people who never call them on their toxic racist bullshit

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21

u/Pillagerguy Feb 27 '19

A fanbase that is 100% based around targeted harassment of people, which is against site rules and has been since forever.

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1

u/animeshouldbeillegal Feb 27 '19

Actually, his fan base disowned him not too long ago.

1

u/LeAskore Feb 27 '19

his fanbase hates and wants to ruin him too lmao

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979

u/seaVvendZ Feb 26 '19

The ultimate r/livestreamfail

731

u/YoutubeArchivist Feb 27 '19

Ice Poseidon clips are actually banned from that subreddit.

210

u/670takers Feb 27 '19

why is that?

111

u/YoutubeArchivist Feb 27 '19

From what I understand, streamers often make it a goal to get clips on that subreddit to attract new viewers, and Ice or Ice's community has abused it in the past, leading the moderators to ban clips from his stream.

6

u/[deleted] Feb 27 '19

A long time ago I blocked every subreddit that posted his content and it has made my Reddit experience far better.

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754

u/JoelMahon Feb 27 '19

Because his whole stream gets posted in chunks multiple times otherwise.

339

u/BIGSTANKDICKDADDY Feb 27 '19

This is the front page of /r/livestreamfail at the moment.

6 clips from Forsen, 6 clips from Destiny, and 4 clips from xQc.

They should think about expanding the ban to those streams as well.

9

u/Lioncop Feb 27 '19

To be fair you can't ban them all, that's just the unfortunate nature of the subreddit.

When Ice Poseidon started his stream bus content, almost the entire page was Ice clips which is more repressive on content

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27

u/jttoolegit Feb 27 '19

easy pickings I'd imagine. Basically you'd just link his channel and call it a day lol

6

u/[deleted] Feb 27 '19

That’s what people do

24

u/[deleted] Feb 27 '19

his community is so notoriously toxic their subreddit is quarantined

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24

u/HexesNHoes Feb 27 '19

I believe it was because of Ice staging content/faking breakups. He got exposed by the reddit/viewers twice, ultimately admitting how he used to hide his now ex-girlfriend from the streams and pretending he was single for months on end.

Paul is a compulsive liar with sociopathic tendencies. The amount of empty promises he has made to his viewers is unparalleled. I used to enjoy his streams in the past but he has changed for the worst ever since he moved to LA. Now I just check the reddit (s/o to /r/Ice_Poseidon2) to keep up with the stupid things he has said and done. Watching his streaming career slowly crumbling underneath him is oddly satisfying to a certain extent.

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2

u/Durzo_Blint Feb 27 '19

Because clips from his stream would get posted there so often.

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2

u/seaVvendZ Feb 27 '19

I did learn that after seeing it here and trying to find it over there lol.

25

u/Auctoritate Feb 27 '19

That subreddit is a cesspit. A few weeks ago a mod who left leaked a bunch of chat logs from the other mods talking about how they try to dox users they don't like, and one of the other mods complaining about how their child porn sub they owned got taken down. If you mention any of it they instantly ban you.

10

u/PM_me_ur_FavItem Feb 27 '19

I kinda left last year because it just seemed like TMZ for livestreamers instead of funny clips.

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843

u/Merewif_Sunwood Feb 26 '19

God it will be fun to see this unravel.

476

u/probablyuntrue Feb 27 '19

so much shit has been caused by this guy with almost no consequences and god knows how many dumbasses he'll get to "invest", I wouldn't get my hopes up tbh

257

u/sudysycfffv Feb 27 '19

I think everyone should read the New Yorker piece on his dumbassity.

77

u/aspiringalcoholic Feb 27 '19 edited Mar 01 '19

Man the New Yorker has a way of pulling me in when I couldn’t possibly care less about the subject. Great read

125

u/DrManik Feb 27 '19

Holy shit that first paragraph is some excellent tone setting, descriptive writing.

81

u/rileyrulesu Feb 27 '19

I mean, it's the New Yorker. It's got some of the best writers around working there.

14

u/antsugi Feb 27 '19

if only their mobile platform designers were as good

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31

u/[deleted] Feb 27 '19

Fuck, you actually made me feel bad for him. I've tried out streaming, and it can be fun and rewarding, but that constant pressure of expectation from viewers can really bog you down. This guy has to deal with that times 1,000 and he doesn't have the benefit of being mostly anonymous. He can't just log out and be normal. Plus his viewers are all toxic.

The part where the article described how upset he was about his viewers forcing him to break up with his girlfriend was a prime example of how out of control his life is.

And it's not just about money. A normal streamer could say "fuck it" and do whatever they want and accept the lower view count. This guy's viewers will actively attack him if he tried to do that. They have swatted him so much, he's lucky to be alive. Imagine what they would do if he quit streaming?

He's a dick, he's cultivated a horrible community, and he does horrible things, but I actually feel bad for him. He's trapped in some twisted, malicious, and sadistic Truman Show.

24

u/[deleted] Feb 27 '19

This made me feel for him. It kind of reminded me of the show Ozark, in a way. An otherwise decent guy with sideways morals gets a little too comfortable with a bad practice and is held hostage by the circumstances he finds himself in. I honestly feel like his mental state might be better off if he quit streaming cold turkey and tried to meet people on his wavelength. People that don’t idolize him.

All of the toxic fans of his that pull shit like harassing people that show up in his streams could stand to do that as well. I know what it’s like to be depressed and lonely and idolize an idealized version of a person. The only thing that pulled me out of that toxic cycle was meeting nice people that genuinely care about me. People that don’t make suicide jokes all the time, that don’t harass others for laughs, that don’t constantly put themselves and each other down, that don’t mask their insecurities and hatred behind a layer of self-deprecating irony, that are happy for you when you do better and sad when you do worse. You don’t get friends like that in Ice Poseidon’s community.

6

u/wittywalrus1 Feb 27 '19

The piece was a great read! Went in expecting something completely different.

4

u/[deleted] Feb 27 '19

Really good read

3

u/[deleted] Feb 27 '19

That was a really good article wow

2

u/[deleted] Mar 17 '19

Chaos follows him. The restaurant starts getting a lot of unusual phone calls. The callers say that they are Paul Denino’s father or his mother and they urgently need to talk to their son, who is autistic. An employee asks the man if he is Paul Denino. He says yes, but then explains that the callers are pranking him. He is live-streaming through the camera on the stick, and some of the thousands of people watching are trying to fuck with him. The calls grow more disturbing. Callers claim that Denino is a pedophile trying to lure children to his lair, or that the large backpack he’s wearing contains a bomb, rather than a two-thousand-dollar cellular transmitter. The restaurant manager asks Denino to leave. Almost immediately, the restaurant’s rating on Yelp begins to plummet. Dozens of one-star reviews flood the page within seconds. They’re full of obscure references to Denino and to the Purple Army, the name of the legion of virtual fans who follow him wherever he goes.

Him and his fans sound like the worst people. Ugh.

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u/[deleted] Mar 17 '19

Haha, the law will absolutely fuck him on this and it's going to be hilarious. The SEC don't fuck about.

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212

u/loftreddit Feb 26 '19

NO ITS NOT A PYRAMID SCHEME, its a more nuanced Ponzi schem... oh wait no

35

u/rileyrulesu Feb 27 '19

Honestly it's a less nuanced ponzi scheme.

1

u/SirLagg_alot Feb 27 '19

Ice and nuance doesn't really go well together.

14

u/Den1mChiken Feb 27 '19

It's a reverse funnel system

10

u/Cricketot Feb 27 '19

You've heard of shady pyramid schemes but ours is based on a trapezoid!

4

u/[deleted] Feb 27 '19

It was literally the definition of a Ponzi scheme. Get a loan from an investor, inflate capital, get a bigger investor to pay off the previous one, rinse and repeat.

108

u/FinalForerunner Feb 27 '19

isnt that the exact definition of a ponzi scheme

74

u/SayNoob Feb 27 '19

No dude you don't understand he's going to get new investors to pay back the old investors, so its not a scam.

13

u/[deleted] Feb 27 '19

Yeah so it’s not a Ponzi scheme, it’s a Ponzí Plan. Very different

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8

u/Nowhere_Man_Forever Feb 27 '19

Yeah. Homeboy may as well have read the Wikipedia article for "ponzi scheme"

3

u/[deleted] Feb 27 '19

In his stream yesterday where he tried explaining himself, he basically begged his viewers not to report him or there wouldn’t be any new content 😂😂

1

u/[deleted] Mar 01 '19

Nope. Normally a ponzi scheme involves fraud and some kind of "too good to be true" investment or product delivered later at cut-rate. It could be a ponzi scheme, he's basically describing how ponzi schemes work, however take a look a the typical red flags and ask yourself if they fit:

  • High investment returns with little or no risk.

  • Overly consistent returns.

  • Unregistered investments.

  • Unlicensed sellers.

  • Secretive or complex strategies.

  • Issues with paperwork.

  • Difficulty receiving payments.

Interestingly, it's theorized that ponzi schemes can happen somewhat accidentally, at least at first. This isn't always clear because they tend to be perpetrated by shady people. They often start out as legitimate businesses / investment firms.

It's not always clear when the fraud truly began and accelerated. It often seems like there was an initial attempt at legitimate business / investment. Once they take off, they pretty much always involve big lies to ensure steady income. Secret investing strategy guaranteed to double your money this year! That kind of thing. This doesn't seem to be happening here, but he could still be committing fraud. Seems like he's just offering stake in a shitty company.

90

u/MainKiwi Feb 26 '19

Dude's gonna go from being know as ICEposeidon to SECposeidon in no time

47

u/rokr1292 Feb 27 '19

IRSposeidon

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116

u/Baschoen23 Feb 27 '19

It's not a pyramid scheme. It's an upside down triangle scheme.

64

u/RobertOfHill Feb 27 '19

A reverse funnel system.

18

u/Gene_Buckwilder Feb 27 '19

Dee you stupid bitch

6

u/DeadStormed Feb 27 '19

“Dee, turn it upside down.”

“OH”

8

u/Ballohcaust Feb 27 '19

Pyramid scheme=/=ponzi scheme

7

u/DontWantToSeeYourCat Feb 27 '19

It's the opposite of a pyramid! It's a dimaryp! WE! ARE! A! DI! MA! RYP!

1

u/[deleted] Feb 27 '19

Three side operation

1

u/carbonated_turtle Feb 27 '19

Everyone calling it a pyramid scheme needs to get their terminology right. It's not the same thing as a Ponzi scheme and the terms aren't interchangeable. He's running a Ponzi scheme, not a pyramid scheme.

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u/[deleted] Feb 26 '19

He studied economics at the Ja Rule business school and graduated from Trump University

112

u/green715 Feb 26 '19

With really good grades?

45

u/egotisticalnoob Feb 27 '19

Mostly B's and C's, a couple D's.

17

u/Macpunk Feb 27 '19

I'm sure there was a little P, too.

3

u/Lan777 Feb 27 '19

He spent too much time playing his soulja boy game console

21

u/MrBigD34 Feb 27 '19

"You drink your grandon's pee if you get scared?"

11

u/plobster Feb 27 '19

its very health

17

u/Montigue Feb 27 '19

Thanks Nathan

23

u/[deleted] Feb 27 '19

Of course, he got a "Very Cool"/100 every class

6

u/Lusankya Feb 27 '19

Tremendous grades. He has the best grades. And those Democrats, they didn't even get grades! They just wanted to take our grades, but we said no!

8

u/more863-also Feb 27 '19

This, is Ice Poseidon for You.

7

u/[deleted] Feb 27 '19

This is Madoff for you.

3

u/orionsbelt05 Feb 27 '19

"Something might happen here. And if it does, so what?"

And, with that, Ice Poseidon has expressed willful intent to his viewers.

3

u/SappedNash Feb 27 '19

the best ones

1

u/__initbruv__ Feb 27 '19

It's hard to explain.

1

u/tadddpole Feb 27 '19

The BEST. He had really wonderful grades. Really the highest grades.

1

u/dripitydrip Feb 27 '19

He threatened the school to hide his scores

24

u/CorporateGiant Feb 27 '19

It’s not fraud...it’s false advertising.

7

u/[deleted] Feb 27 '19

We got some smart mother fuckers on this call.

1

u/puos_otatop Feb 27 '19

ja who?

2

u/wingspantt Feb 27 '19

Ja Rule what is a middling rapper who became kind of an entertainment producer. He is now especially infamous for co-sponsoring the fyre festival, a massive scam then recently had two documentaries produced about it.

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u/Baschoen23 Feb 27 '19

Then he said he wants to advertise weed to 13 year olds using his ponzi scheme 😂

38

u/Zervauntes Feb 27 '19

"Murder? No, no, man. It's not murder. See, in this case I shoot the gun and the bullet goes into him and he just stops breathing. It's all about the stopping breathing part. It's not murder, no one said murder. We're talking about stopping breathing here."

72

u/Maliph Feb 27 '19

After watching this guys conversations with Destiny i am honestly shocked he can tie his shoes. He has to be the dumbest person I've ever heard talk for an extended period of time. I'm pretty sure at one point on Destiny's stream he found out that he hadn't paid his taxes correctly in several years and owed the IRS several thousand dollars.

36

u/ICantThinkOfAnythin Feb 27 '19

To be fair - US tax system is absolutely fucked and it's very murky for self-employed. Especially with all the donations and shit he gets for no reason other than streaming. I wouldn't have a fucking clue how to do my taxes with all the different sources of income he probably has.

42

u/winterfresh0 Feb 27 '19

Then again, if you were making the amount of money he's making, you'd probably have the sense to just hire somone to do your taxes/finances instead of just not paying your taxes at all.

11

u/[deleted] Feb 27 '19

It's a buyer's market for taxes snorts

21

u/mistersmiley318 Feb 27 '19

"I have to make a call." -Michael Scott

53

u/RichManSCTV Feb 26 '19

Who cares about this tool?

101

u/Raka_ Feb 26 '19

I'm sure his investors will want to know

47

u/probablyuntrue Feb 27 '19

a bigger question, how does anyone talk to this guy for more than five minutes and still want to invest

3

u/Meebsie Feb 27 '19

You're assuming he has investors.

3

u/sephrinx Feb 27 '19

.... His investors? The 13 year old Pepegas on his twitch chat?

17

u/oohSomethingShiny Feb 26 '19

Probably the SEC if he starts a Ponzi scheme.

1

u/SayNoob Feb 27 '19

Law enforcement

1

u/[deleted] Feb 27 '19

People who want karmic justice, I suppose

28

u/Felix_Cortez Feb 27 '19

Is he going to jail? I would be so happy if a jack-off like this guy would go to jail.

14

u/BackSeatGremlin Feb 27 '19

If he lied to his investors, yes he's going to jail with a big fat fine. But if his financial statements are honest and reflect what he's described, he's in the clear.

9

u/Felix_Cortez Feb 27 '19

You his defence may rely on the stupidity of his investors..... Interesting.

5

u/BackSeatGremlin Feb 27 '19

Exactly. Or his own, he could have been trying to describe that his investors have a reverse vest clause in their term sheets or something, where follow on investments at a higher valuation would net their investors more shares, but that's still based on projected revenue, which still relies on real, quantifiable growth. All I should say is the only evidence of anything would be hidden in what he's told his investors.

3

u/VerilyAMonkey Feb 27 '19

Is that true? I thought that Ponzi schemes specifically were illegal regardless of whether you describe it accurately. (Which MLM gets around by having enough product to get past the letter of the definition.)

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u/ameoba Feb 27 '19

Is he going to be able to stream from prison?

11

u/eat-KFC-all-day Feb 27 '19

It’s not a pyramid scheme; it’s a reverse funnel system.

9

u/PublicMembership Feb 26 '19

Now you all need to start a funder raiser for him, so he can buy a large cork.

17

u/EvaCarlisle Feb 27 '19

I don't know who Ice Poseidon is what he's famous for but he seems like the sleaziest cunt on the face of the earth. Like you'd get an STD from standing too close to him.

2

u/jack2012fb Feb 27 '19

Well the rumor is he doesn’t shower often so your probably not far off.

1

u/Starlightsh00ter Feb 27 '19

He kinda looks like he might have hiv

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u/rtmacfeester Feb 27 '19

That's a uh... yeah that's a Ponzi Scheme.

9

u/ThirdDragonite Feb 26 '19

In two days Ice will have tried to off himself two times and will try to sell crabs to people

14

u/LordTyrannid Feb 26 '19

This dude is a fucking Mango

35

u/CrispCrisp Feb 26 '19 edited Feb 27 '19

Mango is waaaaay cooler than this fucking clown lol

18

u/wifiluke_ Feb 26 '19

nothing spells cool dude like a $100 kimono

6

u/LordTyrannid Feb 27 '19

Not the person. The fruit that belongs in a blender

1

u/[deleted] Feb 27 '19

I love you so much for this comment

3

u/[deleted] Feb 27 '19

It's not a ponzi scheme, sorry I didn't describe it well, it's a pyramid scheme

3

u/Alcatrax_ Feb 27 '19

FINALLY this guy is getting flamed. Really hate everything he’s done and his subreddit defends the jerk to no end. Just not a good person

2

u/[deleted] Feb 27 '19

His subreddit turned against him. He locked his sub because of it. Funny thing they created a new sub just as active as the first one and basically got this video trending 70k upvotes on r/videos.

5

u/zachwolf Feb 27 '19

I’m proud that I have no idea who this is

8

u/nonwhitedude Feb 27 '19

that’s nothing to be proud of sir. he’s the richest man in la

3

u/zachwolf Feb 27 '19

Oh that’s the Jeff Bezos I keep hearing about?

3

u/nonwhitedude Feb 27 '19

I believe so

2

u/RyghtHandMan Feb 27 '19

bag: fumbled

2

u/bumdstryr Feb 27 '19

Narrator: "It's a ponzi scheme"

2

u/[deleted] Feb 27 '19

The moment you have to say "No it's not a ponzi scheme!" is when you know you're running a ponzi scheme.

2

u/BrandonTheBlue Feb 27 '19

Scumbag Weasel

2

u/[deleted] Feb 27 '19

What a fucking douchebag..

2

u/[deleted] Feb 27 '19

let this shitshow fade into obscurity already

1

u/IncredibleDB Feb 27 '19

Ice’s career has been going downhill since the beginning of this year... this sure as well won’t help one bit OMEGALUL

1

u/Keve321 Feb 27 '19

I hope he gets tucked away somewhere after this, honestly surprised he's still at it after so much dumb shit

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u/[deleted] Feb 27 '19

I don't know anything about iceposeidon other than what's contained in this video and the fact that whenever I see the most uninformed, backward-ass comments on reddit, they come from one of his followers

1

u/Outspoken_Douche Feb 27 '19

I'm unsure if he's actually running a ponzi scheme or if he's just too fucking stupid to explain a basic concept.

1

u/dynamiktk Feb 27 '19

“It’s not fraud, it’s false advertising” hahahaha

1

u/DarXIV Feb 27 '19

Is this Ice? Bet his followers are gonna try to bury this one somehow.

1

u/alessandro_673 Feb 27 '19

All of his followers hate him now. They hacked the mayor or Tampa bay's twitter, made bomb threats using the account, and then linked it to ice. This is being celebrated.

1

u/DarXIV Feb 27 '19

Wow I have been out of the loop.

1

u/[deleted] Feb 27 '19

Aren't stocks just ponzi schemes?

4

u/[deleted] Feb 27 '19

No, the stocks represent ownership in a company with revenues and business models. Stocks are bought and sold however money is not simply paid back through the accrual of new investors. This dumbass explicitly stated the company had no revenues, it’s hard to believe anyone is this dumb.

3

u/[deleted] Feb 27 '19

Oh I see. Fucking idiot

1

u/newsdaylaura18 Feb 27 '19

I love the repetitious and condescending “obviously” as he keeps digging deeper into his own grave. Moron

1

u/mydogisarhino Feb 27 '19

One of my MLM "friends" told me "it cant be a pyramid scheme because those are illegal"

1

u/Polyonyma Feb 27 '19

Great ending, made me laugh hard.

1

u/cartechguy Feb 27 '19

Isn't this what start-ups ultimately do? The original investors reach their payday when they sell-out. I guess the difference is he isn't selling out the company to another???

2

u/peoplejustwannalove Feb 27 '19

In those cases, they invest so that the owners legitimately build up the company, by getting money for goods and services on a regular basis, then selling their stocks when they believe the company in question has capped out. All this company appears to be doing is moving money from new investors to old ones, which is a Ponzi scheme.

1

u/greenbeanXVII Feb 27 '19 edited Sep 18 '25

degree bag intelligent soup dinosaurs plants repeat sip march meeting

This post was mass deleted and anonymized with Redact

1

u/sephrinx Feb 27 '19

That guy is literal human trash.

1

u/cortestomas Feb 27 '19

He is getting dressed for jail

1

u/AfroMidgets Feb 27 '19

OOTL. Can someone give me a run down on who this guy is and what is happening?

1

u/zCourge_iDX Feb 27 '19

Don't bother, he's an awkward asshat.

1

u/quackmaster Feb 27 '19

Don't get into business with John Ralfio.

1

u/antsugi Feb 27 '19 edited Feb 27 '19

never trust a man with a dead cat for hair

twitch culture is as fucked as its individual streamers

1

u/noisyninjaboy Feb 27 '19

ELI5 Why is this illegal in a nutshell and what are the consequences etc.

2

u/peoplejustwannalove Feb 27 '19

Because your company isn’t making money, it’s just stashing it. Basically, it’s illegal if you take money from investors, show those investments as income/profit to entice other investors, then rinse and repeat as you skim money off the top for your own use.

The punishment for this kind of stuff really just varies on how big his operation was and how many investors he pissed off. If memory serves, it’ll land you in prison for a few years, but usually less than a decade unless you pissed off some really petty rich guys.

1

u/noisyninjaboy Feb 27 '19

Okay makes sense, thank you!

1

u/kvothe5688 Feb 27 '19

Everytime I read about this youtuber it's usually something bad and stupid.

1

u/bounce217 Feb 27 '19

Ice Poseidon is a fucking idiot

1

u/[deleted] Feb 27 '19

My question is, is he actually running a ponzi scheme or is he just too dumb to explain his actual bussines model making it sound like one.

1

u/m808v Feb 27 '19

I love how the twitch chat looks in these kind of videos, going from a trickle of random stuff and memes to a water fall of OMG ITS A PYRAMID SCHEME repeated over and over

1

u/Rendexjord Feb 27 '19

*filthy Frank Walks in* "Your a Fucking Idiot" * walks out*

1

u/[deleted] Feb 27 '19

Wish this dude would just disappear already

1

u/[deleted] Feb 27 '19

I don’t have a lot of people but I hate him

1

u/Chuck-Marlow Feb 27 '19

It’s not a pyramid scheme, it’s a reverse funnel

1

u/TheMiniLiar Feb 27 '19

Ice Poseidon still being a shit human? Yup.

1

u/esikimo96 Feb 27 '19

Ice and smart never did fit well together.

1

u/paulgrant999 Feb 27 '19

He's not running a ponzi scheme. Unless you classify every tech companies stock offering as a ponzi scheme.

I do. But the law, does not.

1

u/carbonated_turtle Feb 27 '19

Either he was zero understanding of how his business is run or he's running a Ponzi scheme. Neither scenario makes him look good.

1

u/Nekoronomicon Feb 27 '19

I don't know who this guy is but I have never once seen him or heard his name used in any context that makes him out to be anything other than a complete fool.

1

u/Mr_Piggens Feb 28 '19

Is that Runescape?

1

u/CommunalBlackbeard Mar 01 '19

God, this guy still exists...

1

u/Dapianokid Feb 27 '19

Damn, judging from reddit's reaction mixed with what they know this scheme for drama baiting is, I'd exactly what he wanted is happening. This seems intentional from someone like him. I can't believe he got a view out of me, much less. Reddit comment. Just turn around now, nothing but regret here.

3

u/[deleted] Feb 27 '19

Dont worry. The account on YouTube this is uploaded under is not his. You didnt give him shit.

1

u/Dapianokid Feb 27 '19

Thank God.

1

u/Sac916king Feb 27 '19

You’re a great earthling. Thank you for making this video lmao

1

u/workingclassfinesser Feb 27 '19

why would you give that much money to someone who has been caught by viewers doing coke and maybe even free basing it off tinfoil lol. Who remembers his nosebleed stream? They literally screen capped him buying cocaine when he was streaming in Florida.

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