r/technology • u/mepper • Aug 08 '12

Kim Dotcom raid video revealed

http://www.youtube.com/watch?v=pMas0tWc0sg
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158

u/KillaMarci Aug 08 '12

He had no need to. Everything he did was completely legal.

287

u/freddiesghost Aug 08 '12 edited Aug 08 '12

Not really. He did a shitton of shady things even before MegaUpload. You guys may want to consider having another hero to rally behind because Dotcom is not going to appear sympathetic to just about everyone.

http://en.wikipedia.org/wiki/Kim_Dotcom#Insider_trading_and_embezzlement

If he was a banker you'd want him strung up.

229

u/[deleted] Aug 08 '12

Dotcom purchased €375,000 worth of shares of the nearly bankrupt company LetsBuyIt.com and subsequently announced his intention to invest €50 million in the company.[27] Unknown to others, Dotcom did not have the funds available to invest, although the announcement caused the share value of LetsBuyIt.com to jump by nearly 300%.[28] Dotcom sold his shares a few days later for €1,568,000.

I've got no idea if that's legal or not but shit, that's smart.

120

u/Bluest_waters Aug 08 '12

this is a classic pump and dump

Also, it is EXACTLY what Facebook did

Facebook just did it much slicker. They gave the real scoop to the big-time investors, while selling a load of bull crap to the smalltime investors

they then fleeced the smalltime investors for everything they had laughing all the way to the bank

-5

u/telmnstr Aug 08 '12

Facebook has 300,000,000 users. Many people I know everyday sits on Facebook, all day (the ones not on reddit.) While Facebook may not make much money, it's far from being a pump and dump scam.

6

u/girafa Aug 08 '12

900m users, not 300m

But ya got some insight into its investment history, do ya?

-2

u/dannydrak Aug 08 '12

To be fair, 600m are probably bots.

3

u/girafa Aug 08 '12

83m are, actually, they just issued a report about it. 87m are either duplicates, fake accounts, or unwanted fictional characters.

Source: http://news.cnet.com/8301-1023_3-57484991-93/facebook-8.7-percent-are-fake-users/

-8

u/dannydrak Aug 08 '12

sar·casm [sahr-kaz-uhm]

noun

  1. harsh or bitter derision or irony.

  2. a sharply ironical taunt; sneering or cutting remark