Originally Posted by
PJ Paul
I have been saying for years that JetSmarter is a ponzi scheme that is about to topple over. I wrote a blog post on my companies website saying as much.
The information they used to raise all of their capital was borderline fraudulent. Totally misrepresenting what they were capable of to those who didn't have an advanced knowledge of the private jet charter industry. They started out by saying they'd be able to capture/monetize basically 100% of the empty leg market, which is not possible. Never has been and never will be.
As an owner of a Private Jet Charter Company, I could go on and on about JetSmarter for days. Fire any questions you may have about JS at me and I will give you candid responses.
PJ Paul
PJ Paul,
Can you elaborate on the "ponzi scheme" aspect of jetsmarter?
I disagree with this company's significant terms & conditions adjustments during a membership period but don't see this as a ponzi where a swindle results in a quick profit for investors.
I have not signed up even though I was close a few times. Not being able to control my schedule isn't worth any real or perceived cost savings to me. In the past, members ranted and raved about it.. I missed that boat.
But how is this a ponzi scheme vs. an investment that didn't come to fruition yet?
I believe that's on the investors being naive enough to think that the company WOULD BE capable of capturing the empty leg market and returning a profit. It's a gamble they are taking, and they might pay dearly, or get away unscathed by selling their share to another naive investor.
Do you see any possible change in jetsmarter's business model that could turn the company into a profitable enterprise?