Link to the original tweet: https://twitter.com/andy_bromberg/status/1528817375541350404...

> The former product is based on the model of taking in customer funds, converting them to stablecoins, and lending them out to institutions, Bai explained at the time.

Sounds like the rest of their problems are moot then

First Stablegains via Anchor and now 'Pebble.' What do they have in common? Like a Chevy, they sink like a rock.

NGL for the most recent YC class of 'notneobanks!'

NGL?

Isn't a bit too early to jump the gun like that?

Back in the days those who were copied at least did wait to see if the project became successful before piling in.

If you read the thread, it's not copying, as in building another company with the same premise (like Chipotle and QDoba, or Uber vs Lyft). It's copying, as in replicating the same pitch materials, marketing copy, app flows, terms & conditions, job descriptions, etc.

Honestly, If Bromberg's being 100% about this, it's bizarre. Most engineers I know have so many ideas of their own that aping someone else's whole company without any creative interpretation would feel really miserable. What's their endgame, hire the Eco team and have them continue to generate original ideas?

A lot of people don't actually have any ideas but still want $

We can have differing opinions on copying ideas, but plagiarism is another matter that is generally not looked upon favorably in our western parts of the world.

And he did wait until it came out of stealth, even though he noticed their "information gathering" and saw their deck early.

I mean...yeah, but this company Pebble is essentially just an idea.

Raising money is not a milestone in the history of a company, people get confused but it's not unlike getting a loan from a bank, they are essentially still nothing.

Is there a YC response to this?

lol