Tag Archives: Entrepreneurship

Nasdaq rejects pot startup MassRoots

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“MassRoots, a social networking platform for cannabis users, said Tuesday that Nasdaq has rejected its request to trade shares on the exchange.  The Denver-based startup had hoped to become the first cannabis company to be listed on Nasdaq.  Nasdaq determined that listing the company could have been seen as aiding the distribution of an illegal substance, MassRoots said.  Isaac Dietrich, a co-founder of MassRoots, said the decision sets a ‘dangerous precedent’ that will prevent other legal marijuana companies from getting listed on national stock exchanges.”

http://money.cnn.com/2016/05/24/smallbusiness/massroots-nasdaq/

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North Korea Is Newest Frontier for a Daredevil Investor

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“The risks of sinking cash — even just $7 million or so of Firebird’s $700 million in assets — into a neo-Stalinist state with labor camps and virtually no private property are obvious. The geopolitical volatility was on full display last week, as North Korea claimed that it had tested a hydrogen bomb. And Mr. Passin is treading on murky investment territory, given the American sanctions against the country.  His investors have experienced the wild rides that come with such frontier markets. Two of his funds are being liquidated after deep losses, including on banking in Iraq, gold in Armenia and oil and gas in Kenya.  But Mr. Passin isn’t deterred. ‘I see opportunities when other people are afraid,’ he said.”

http://www.nytimes.com/2016/01/14/business/dealbook/north-korea-is-newest-frontier-for-a-daredevil-investor.html?ref=dealbook&_r=2

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5 Years and $7 Later, Homeland Security Returns Seized Hip-Hop Website

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“In place of its usual feed of videos, song links and industry gossip, the site displayed a seizure notice from the federal government, a result of a raid of dozens of websites suspected of trafficking in counterfeit goods and pirated content.  The site stayed that way for nearly five years. But a few weeks ago, after lobbying the government for its return and paying a $7 fee, Kevin Hofman — a rank-and-file record label employee who ran OnSmash, first as a hobby and later as a full-time job — finally got it back, with little explanation and without ever being formally charged with any wrongdoing.”

http://www.nytimes.com/2016/01/02/business/media/5-years-and-7-later-us-returns-a-seized-hip-hop-site.html

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Former cop gets two years in prison for polygraph coaching website

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“Douglas G. Williams, a 69-year-old former Oklahoma City police officer, was sentenced Tuesday to two years in prison for charges related to his business Polygraph.com.  Williams had worked for the Oklahoma City Police Department for about a decade, quitting in 1979 after he decided that the polygraphs tests he administered in the department were a fraud. He went on to claim through his website that he could teach anyone to pass such a test ‘nervous or not — lying or not — no matter what!’ Federal investigators caught wind of Williams‘ business and set up appointments that turned out to be a sting.”

http://www.washingtontimes.com/news/2015/sep/23/douglas-williams-former-oklahoma-city-cop-gets-two/

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Give a Drunk (or Anyone) a Free Ride Home, Face $500 Fine

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“It’s always amusing, if only bitterly, when government shows its true colors of obdurate opposition to human safety and happiness in the name of its bogus authority.  Let’s look at the reaction of local police to the news that libertarian/Free State Project activist Christopher David plans to launch a non-Uber tip-only ride service called ‘Arcade City’ for Portsmouth, New Hampshire, on New Year’s eve.  Anyone trying to help some (possibly or likely) drunk person off the road on the cheap (or for whatever amount someone might choose) on New Year’s eve in Portsmouth faces powerful punishment for daring to do so without having filed a fee and application with the city and following its rules.”

https://reason.com/blog/2015/12/30/give-a-drunk-or-anyone-a-free-ride-home

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China: Sale of canned clean air skyrockets following smog red alert

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“Want a breath of fresh mountain air right in the smog-filled Chinese capital of Beijing? You’ll have to try it out of a can then.  A red alert recently issued due to escalating levels of smog in Beijing has turned into a profitable venture for many in the business of clean air. Sales of pollution masks have skyrocketed with pieces available in different prints and designs. The requirement for clean air recently led one restaurant in the Chinese city of Zhangjiagang to charge a ‘clean air fee’ of one yuan ($0.15, £0.10), according to a report by China’s state-run news agency Xinhua. Local authorities pointed out that the fee was illegal and sent a written notice to the restaurant asking it to stop the charge.”

http://www.ibtimes.co.uk/china-sale-canned-clean-air-skyrockets-following-smog-red-alert-1533559

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11 Bitcoin Startups That Went Bust in 2015

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“After what you might call a ‘Wild West’ period (when it seemed everyone with the urge was setting up their own bitcoin-based service), the space is now rapidly becoming more dominated by bigger, more professional outfits, often with serious funding to get them off to a solid start.  And while some big bitcoin names made the news this year for positive reasons, some firms had to report that they were closing down.  A variety of reasons brought about these failures, from increased competition, to a lack of cash or even, perhaps, fraudulent practices.  In 2015, around 11 bitcoin firms went belly up. Here’s our look at what happened.”

http://www.coindesk.com/bitcoin-startup-shut-down-2015/

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Jerry Seinfeld’s lemonade stand gets shut down by police

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“Seinfeld and his family were shut down by East Hampton, New York, police on Tuesday, Aug. 18 for setting up a lemonade stand, reports CBS New York.  Seinfeld’s wife Jessica posted a photo on Instagram of her son, Julian, and two of his friends with their hands up (jokingly) amidst the police drama.  When officers arrived after a neighbor complained about illegally parked cars, they informed the Seinfelds that it is not legal to run a lemonade stand on village property.  ‘Lemonade dreams crushed by local neighbor, but not before raising lots of money for @loverecycled,’ Jessica Schneider wrote on Instagram. ‘Thanks to all of our customers and big tippers!'”

http://www.cbsnews.com/news/jerry-seinfeld-lemonade-stand-gets-shut-down-by-police/

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Cops Raid Little Girls’ “Illegal” Lemonade Stand, Shut it Down

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“Last week, police in Texas heroically saved the town from likes of two young girls who attempted to open a black market lemonade stand. The girls, one 7-year-old and one 8-year-old, dared to try to raise money to buy a Father’s day present for their dad by setting up a lemonade stand in their neighborhood.  Andria and Zoey Green told ABC affiliate KLTV they were trying to raise about $100 for a Father’s Day present. They wanted to take him to Splash Kingdom.  Over the weekend, the two young entrepreneurs took to the streets with their delicious batch of homemade lemonade and began to provide willing customers with their product.”

http://thefreethoughtproject.com/cops-raid-girls-illegal-lemonade-stand-shut-operating-permit/

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Why a pizza can’t fly

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“The story of a world-shaking innovative enterprise should start in a garage. The story of a flying pizza is no exception to this rule. One day in the spring of 2014, a police department in Syktyvkar, a city in Northwestern Russia, got a call from a concerned person who reported that a few suspicious young men occupied a garage in his neighborhood. They were making a lot of noise and were bothering all the respectable citizens living in the area.  When policemen arrived at the location, they did find a few people in the garage, although the crime scene looked somewhat unusual.”

http://dodopizzastory.com/2015/11/11/why-a-pizza-cant-fly/

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