oops-failure

Kickstarter dodges responsibility for failed projects

What happens if a crowdsourced project fails? Do contributors get their money back?
In an NPR interview, Kickstarter co-founder Yancey Strickler seems to suggest that has never happened … that failed projects which are unable to deliver promised goods are “a bridge that has not yet been crossed.”

startup-con-man

Meet Benedict Van, the con man of Silicon Valley

The Securities and Exchange Commission has finally tracked down a con man who courted naive investors with “the next Google” and promises of quick IPOs, tricking them out of a grand total of $7 million — or more.

JOBS Act becomes law, but questions linger about potential for fraud

President Obama signed the Crowdfunding Bill, aka the JOBS Act, into law today. It will change the way startups do business in a lot of ways, most notably by making it easier for them to accept smaller investments from a larger number of investors. Chance Barnett, chief executive officer of crowdfunding service provider Crowdfunder, sent us the nifty infographic below helping to explain.

Over 50K Visa and Mastercard credit cards compromised, banks alerted

Cyber-criminals have stolen Visa and Mastercard credit-card data by hacking into payment processors in New York City parking garages. Visa confirmed that the data — enough to create counterfeit cards — was stolen, and both companies are doing damage control by alerting banks and credit unions for the 56,455 cards.

The startup con man

Two weeks ago, several tech publications wrote about DinglePharb, an exciting new social gaming developer based in the Philippines and Hong Kong.

Three ways to prevent executive fraud

(Editor’s note: Jeff Bussgang is a General Partner at Flybridge Capital Partners. This column originally appeared on his blog Seeing Both Sides.)