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PostPosted: Tue Nov 05, 2013 3:18 am 
Old School Grand Master
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Joined: Sat Oct 06, 2012 5:17 pm
Posts: 3775
Location: Norn Iron
Good morning,

In relation to your first post, I feel you were harshly treated. I recently noticed that some sellers were somewhat argumentative with people who pointed out the rules to them. They clearly knew the rules and continued to defy them - and no action has been taken. All a bit odd really - maybe it depends on who you know and not what you are selling.

Richard


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PostPosted: Tue Nov 05, 2013 7:03 am 
Old School Hero

Joined: Sun Feb 24, 2013 9:40 pm
Posts: 150
I agree Richard - I've seen many more transgressions of the rules in the last few weeks, none of which seem to have resulted in the same penalty. It's a clique I can live without :-)


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PostPosted: Tue Nov 05, 2013 7:16 am 
Old School Grand Master
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Joined: Sat Oct 06, 2012 5:17 pm
Posts: 3775
Location: Norn Iron
I am stickler for rules and do not agree with the way they are being enforced. I cannot find the link but the sitaution where someone is told about advertising elsewhere and he argues that it is fine because it is a great bike is farcical.

I'll get my pj's .........

Stick to here!!!

Richard


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PostPosted: Wed Nov 06, 2013 1:00 pm 
retrobike rider / Gold Trader
retrobike rider / Gold Trader
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Joined: Fri Feb 06, 2009 11:13 pm
Posts: 9730
Location: Skipton
Fixie's are wierd, as are their riders. The end.


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PostPosted: Thu Nov 07, 2013 1:12 pm 
Dirt Disciple

Joined: Thu Mar 04, 2010 9:58 pm
Posts: 62
Location: Birmingham
Where is it promoted 'as a trendy progressive liberal sight'?


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PostPosted: Thu Nov 07, 2013 3:12 pm 
Newbie

Joined: Sun Dec 11, 2011 1:28 am
Posts: 5
Location: London
so you broke the classifieds rules knowingly, then complain when you get banned?
And TGR, don't worry, anyone that breaks classifieds rules either has to amend it, or get banned.
As for your rant about Microcosm, have a read of this

"The new valuation is much the same in that we are what the market says we're worth. But whereas in the first valuation the figure came solely from the past and the past was LFGSS, the new figure comes from what we've achieved to date, what it would cost to build the equivalent, the assets now owned, and the revenue that is expected if the opportunities on the table are realised as a result of the investment.

We haven't reduced those things to line-item numbers, as some things vary from day-to-day (i.e. the email I received yesterday morning from a publishing company enquiring as to when we'll have the product available for them to use would greatly change any revenue numbers, and as not all opportunities will come to pass I am erring on the side of caution in guessing multipliers).

What we generally factored in:

1) We now have IP in the product architecture and implementation

2) We now have an actual product launched and a couple of genuine customers using it on a small scale (proving some product to market fit, small traction)

3) To build similar without our knowledge and domain expertise would require a dev team of a couple of people for a couple of years (it's not mission impossible but they'd have to figure out things we know from domain experience), the cost of that is substantial (and part of the value of the company)

4) We have the trademark for Microcosm

5) The market opportunity from one major customer has the potential to put us into the most profitable segment of the market from day one, and on a decent scale within that segment

6) Conservative projections without including that major customer but generalising the other go-to-market strategies were already fairly sizeable

7) We still have the historical offer for just LFGSS valuing the worth of a company hosting a site this size

8) We have a load of physical assets (drop in ocean compared to numbers above, but this number we know more accurately)

We took that and created a lower and upper bound range for the valuation, and shared the figure with the accountant, Seedrs, lawyer, and a few very seasoned (greybeard) investors to basically see what they thought was a fair valuation within that range (or to tell us if our estimation was junk).

What we were told (summary of all opinions) is that we could easily argue above the London average, but that a £2m figures put ourselves in the average valuation for early stage funding in London and no-one would have a problem with that given what we have accomplished to date."

from https://www.lfgss.com/thread108508.html

And frankly, he's living on the bread line to get Microcosm built on budget, which is probably the reason he hasn't replied to your emails too, as he's busy coding all day.


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PostPosted: Thu Nov 07, 2013 3:35 pm 
Old School Hero

Joined: Sun Feb 24, 2013 9:40 pm
Posts: 150
Firstly, I didn't knowingly break the rules - I made a simple mistake. The response to which was, putting it mildly, unreasonable, unfriendly and unforgiving - nice bunch of fellow cycling enthusiasts.

Secondly, expressing a considered opinion based on facts is not a 'rant' - except perhaps in LFGSS parlance.

And last, "what the market says we're worth" and "We haven't reduced those things to line-item numbers" are just the kind of fluffy nonsense expressions that would make me, and the other seasoned businessmen I know, give the Microcosm proposition a very wide berth. That's not a rant, that's a fact.


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PostPosted: Thu Nov 07, 2013 3:36 pm 
Dirt Disciple

Joined: Thu Mar 04, 2010 9:58 pm
Posts: 62
Location: Birmingham
Was your simple mistake not reading the rules?


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PostPosted: Thu Nov 07, 2013 3:46 pm 
Retro Guru
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Joined: Thu Jan 26, 2012 3:46 pm
Posts: 656
Location: Hampshire
neilnelson wrote:
Was your simple mistake not reading the rules?


Did you read his post? He admitted he breached the rules by mistake and when he tried to rectify this he was stonewalled, hardly seems fair.


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PostPosted: Thu Nov 07, 2013 3:49 pm 
Dirt Disciple

Joined: Thu Mar 04, 2010 9:58 pm
Posts: 62
Location: Birmingham
he accidentally advertised a sale on two sites (which is against LFGSS rules)?


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