HeadSpin accused of $80M fraud, housing startup irks NIMBYs + Not Boring’s Packy McCormick | E1272
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 26 August 2021
⏱️ 75 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | Okay, we've got an amazing interview for you today, not borings. |
| 0:03.9 | Packing McCormick is on the program. |
| 0:06.5 | We cover his time at Breether, competing with WeWork, at the peak of Adam Newman's craziness. |
| 0:11.4 | And we talk a little bit about how he borrowed a little bit from my playbook and turned it |
| 0:15.2 | into his own playbook by combining a newsletter, a venture fund, and doing really interesting |
| 0:21.0 | adveratorials in it. |
| 0:22.5 | It's a pretty crazy model, and I was actually taking some notes, but first I want to cover |
| 0:27.1 | two news stories, both of them very interesting. |
| 0:30.8 | A unicorn SaaS startup called Headspin has been accused of a massive fraud by the SEC |
| 0:35.7 | and DOJ, defrauding investors allegedly out of 80 million dollars. |
| 0:40.4 | I'm going to break it all down. |
| 0:41.4 | There's a lot of startup lessons here around diligence for investors and had to not bend |
| 0:46.0 | the truth and get yourself in trouble as an entrepreneur. |
| 0:49.4 | And then the second news story we're going to get to is a super innovative real estate |
| 0:53.3 | startup that's offering fractional ownership in second homes, aka vacation homes, and it's |
| 0:59.4 | causing an outrage in one country, which means it's probably going to be a tremendously |
| 1:05.2 | successful startup. |
| 1:06.2 | Stick with us. |
| 1:07.2 | This week in startups is brought to you by Vanta. |
| 1:11.2 | Compliance and security shouldn't be a deal breaker for startups to win new business. |
| 1:15.7 | Vanta makes it easy for companies to get a SOC to report fast. |
| 1:20.2 | This list can get $1,000 off for a limited time at Vanta.com slash twist. |
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