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| Steorn Orbo free energy scam - they're Still at it! |
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| CJay:
--- Quote from: yada on May 21, 2017, 07:01:36 pm ---I often wonder how people get so wrapped up in something that clearly doesn't work. Is it the chance of getting rich? Not all of these investors are stupid, I wouldn't think. Some times people become so deluded with money that they start believing their own lies. --- End quote --- Monorail, MONOrail, MONORAIL!!! People are easily hooked. |
| McBryce:
--- Quote from: EEVblog on May 21, 2017, 09:18:50 am --- --- Quote from: mikeselectricstuff on May 20, 2017, 10:24:23 pm ---Assets for sale by liquidator : http://www.cooney.ie/cooney_item_page.php?id=126 --- End quote --- Why did they need a DPO7104 1Ghz scope? --- End quote --- They had a Picasso Lithograph, a suit of armour and a robot arm and you are wondering why they needed a over speced scope? :D McBryce. |
| T3sl4co1l:
--- Quote from: yada on May 21, 2017, 07:01:36 pm ---I often wonder how people get so wrapped up in something that clearly doesn't work. Is it the chance of getting rich? Not all of these investors are stupid, I wouldn't think. Some times people become so deluded with money that they start believing their own lies. --- End quote --- Reflect on what it means to be an investor. You supply money to a myriad of possible markets. It is physically impossible for you to understand all of them in depth (or you're the one single person in the world who is totally amazing, but there aren't very many of those). If you're wise, you'll at least do some superficial research on where a given market is going. But many probably don't have the time for that, or they simply don't bother. (90-10 rule: most of them will have more dollars than sense.) Or if you don't have the time to research it yourself, you can hire a consultant or analyst to give you an opinion. But opinions are just that. The 90-10 rule applies to analysts as well. Unless you're going to get a statistically significant review from many analysts (in the process, wasting all the potential profit you had hoped to get from the proposal in the first place), it's up to you to make the decision. It's all just opinion, and speculation, and gambling. It's the refined businessman's casino. Even better than a casino: you don't know the odds, and the house doesn't always win. It looks very bizarre to a person of science. Remember, it's the CEO's duty to give direction: if we can solve just this one thing, we can hit it big. It is not the CEO's business to have complete understanding of the many fields he oversees: from marketing to research. That would be highly impractical. No, it doesn't matter if that thing happens to violate thermodynamics (those water-from-air crowdfunding campaigns), or is unprovable, unsolvable or impractical (say, NP-complete problems, breaking hard crypto, proving the Riemann Hypothesis...), or just happens to be some average every-day engineering problem that needs a little more research behind it (a bigger team, smarter eggheads, better direction, whatever). To the CEO, to the investor, to the businessman, it's just another problem that needs to be solved, directly or indirectly. It looks very bizarre to a person of science. There are exactly this many types of problems: those that are proven true, those that are proven false, those that can be proven true or false, and those which cannot be proven true or false. But the CEO can't possibly take the time to understand why some particular problem might be provably unprovable. It's just someone's opinion whether it is or not. And what if that opinion is mistaken? It's all just opinion. This is the main reason why businesses and investors frequently entertain proposals, that -- to those with in-depth knowledge of the subject, looks ludicrous -- and, indeed, why they necessarily must entertain such things, because it's all just different opinions. Now, if I haven't bored you enough, your homework assignment is this: read about what a "legal opinion" is, and what "evidence" and "testimony" are. Reflect on these subjects, and write a short (500 word) essay about them. :popcorn: :popcorn: ;) :popcorn: :popcorn: Tim |
| CJay:
I agree with much of what you say Tim but in a company with such a narrow portfolio as Steorn then surely reality must have not been that much of a stranger to them? I can see how a company with a broad portfolio of seemingly unrelated market and products could get their CEO in such a position but doesn't it seem unlikely that any decent CEO wouldn't have some inkling that all wasn't right in what was essentially a single technology? I can believe that investors would keep on putting money in, after all they're only about the return, most would have had stock because it was part of a scheme offered by a financial company who'd chosen based on figures, not technological knowledge. Nobody likes to have to admit they've been had so they will throw good money after bad, at least for a short time. |
| EEVblog:
--- Quote from: SeanB on May 21, 2017, 04:38:28 pm ---Like the armour, though i guess it will not exactly protect you from the angry punters who gave you money though. --- End quote --- I can remember getting an email from an Orbo investor who had access to their developer forum or whatever it was. Probably 6+ years ago now. He could smell the BS, but wanted my opinion on whether or not there could possibly be something in it (guess my response). His desperation and "wanting to believe" was so evident it was sad, he just couldn't walk away from it even when he knew deep down he was being duped. He said almost everyone in the developer forum club were fairly clueless on electronics or engineering, so pretty easy to see why Orbo strung them along for so long. The classic long con. |
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