So, there's this guy who was trying to land a job at BlackRock and some banks in the US, UK, and even Switzerland, plus the US government. He shared his insights on crypto with them.
Fast forward a couple of years, and guess what? They’re using the strategies he suggested, but he never got a job offer or any business partnership from them. Everything happening now in the crypto space? A lot of it came from his ideas. He even mentioned how stablecoins could be backed by BTC, Tron, and Sol, and he was the one who pushed for crypto to be seen as reserve assets.
He had more insights, but honestly, what's the point of sharing everything when people just take ideas? This just goes to show that banks, financial institutions, and governments don’t seem to value creative thinkers who can build systems. They’d rather take the ideas and run.
It is not just the government or financial institutions that you need to be cautious about sharing your ideas with, you also have to be cautious about people around you whom you share brilliant ideas with in the hopes that you guys are just friends and they will not be able to act on it. Some people have the resources and are looking for where to invest that resources to, they have resources but lack the idea. You have the idea and lack the resources, so if you are not wise and then you go on to share every details of your unique idea to such persons, they could go on and act on it because they have the resources and they know you have no legal backing on the idea.
Come on, a lot of ideas are in the air. And they are not at all the invention of any one person. For example, a loan secured by cryptocurrencies. I proposed this idea back in 2017 in a discussion on some project, I think Timereum(I'm not sure). But no one knew how to do it in practice. There was no DeFi back then. This is certainly not the release of cryptocurrency-backed decentralized stablecoins such as DAI, but the idea is close. So only a very unique idea can be stolen, but collateral and loans are not unique ideas. Here, Uniswap is perhaps a unique idea as an exchange mechanism, it's not easy to come up with. At least, if it were simple, then Etherdelta would not have existed for so long.
I think that this is becoming common and that's why if you've got a brilliant mind in the very niche that you are a part of, it's best to have your idea executed in your own if you do believe it. Because you'll never know the investors that seem to be interested to invest on you will simply just catch your idea and after your pitch and sharing to them, they'll think about it until you'll never hear them anymore. But, they already got your idea for them to do it themselves.
It is very easy for two people to share Same ideas even if they haven't meet or interacted it will take only a very rare idea to have it thought only by one person.
And despite some carrying out what seem very similar with your idea doesn't stop from carrying out that idea if you have the financial ability to do so except you are scared of competition.
If you have an idea and thought about it even with competition you should at least find a way to make it work for yourself.
ideas being stolen is not restricted to only financial institutions or government bodies making money of your proposal but it's a general effect that people who do it value your presence will rather find the value in you and make it come through, how were there is also a good side of this ideas being stolen, some people are mere dreamers while some are builders, so in this course they can have the idea but it does with them without coming to reality but someone who heard it will make it come through, where it is supposed to align is to bring the person who has the idea in to the picture but you know humans everybody wants the glory.
It doesn't sound like you've ever had a proper job. If you have these grand and original ideas, you either develop them separately outside of work or you try to inject them into your work - at which point they come under the ownership of the business. You have to be pretty foolish not to understand that, because it's been documented time and again in many "horror" stories. In many cases if you are clever you can just see if the foundations work and get another business to fund often expensive initial steps, but leave some key elements out which you could go on to optimize the idea later on. I highly doubt your friend was the genius they proclaim either, as many ideas out there overlap or are just (sometimes inadvertently) picked up from other people.
Knowing the basic of crypto doesn't make you or anyone a genious.... Specially now, maybe 15 years ago
And just having good ideas isn't a big deal. You need to know how to brilliantly execute that idea.
Yeah, basically that. Lots of people think about many things, but investing making, taking risks and trying to execute that idea isn't for everyone.
Well, it is something morally questionable but not illegal, and basically that is how large institutions operate: they listen to external ideas and use them; it is part of the process, but that does not imply an obligation to hire. Therefore, from their point of view, they are not stealing ideas; lets say they consider that they are only absorbing information. Ideally, people with strategic ideas should be more cautious when sharing them.
This just showed how big institutions really works, because they don't value those who have good ideas rather the ideas will be collected and they will move on. Okay instead of them to give him job or partner with him they took and shared what belongs to him that's cruel.
This proofs that some governments and banks rather prefer taking ideas than supporting the minds that bring about it. I think it's acit if wickedness.
The government have enough resources and power to get any information that they want to get. The thing is that they will try to put things in a way that their finances and economy will not be in problems. Both the bank and the big companies are doing what they do for profit . Even if they did not get the information from hime they will get it from another person.
Many of all this big companies that are at the top for year are working hand in hand with the government so the both of them are benefitting.
If that is true, I am sure that your friend will still have some keys about how to validate that business ideal probably better than the way the companies or institutions are going to apply theirs in a less efficiency comparing to the original ideal person (your friend).
Your friend may had also just gone to make his presentations of what he has to offer and should not had gone do deep giving all steps of how to actualize the goal with his business ideal.
Of course some economical institutions may always play smart to outshine to save the company from expenses. So if you share your ideas to those that have the resource to execute it and also have employees who have related ideals like you, likely, your ideal will be stolen and get you won't get hired.
Financial institutions, banks, and the government all need smart people. They need them, but they dont need much of them because with technology, one smart person can handle multiple tasks.
In a way, I understand your points very well. There are ideas you dont need to share with anyone. You only share it with someone who you are sure will help in bringing it to life.
These people don't only steal ideas, but also employees from their competitors, so no surprise on their methods and actions. There are many unethical practices going on among businesses and they even claim that if they don't act like that, it wouldn't be possible to reach on the current status they are right now. Anyway, I believe in karma, so you shouldn't be afraid of sharing ideas, especially if you did this with good intentions.
You will be blessed at some point, while those who acted perversely will also receive what they deserve after all... We have seen empires which looked invencible to fall down like they were nothing, and the same applies for such companies which consider themselves to be the rulers of this world.
I can attest to that. I have some ideas before that I thought that I have discovered but no, our minds have wide imagination and out of nowhere, someone afar can have the same idea as us.
But the matter is if you'll be able to prove the ownership of that idea, made it into reality by doing that and best if it's patented and registered.
It has also become common that an employee who works on a good restaurant and then quit because of making their own food stall by just applying the technique, menus and ideas they've learned from their former employer and restaurant.
I don't know with governments but, no, our financial institutions and banks need smart people. So, it's either the person you're talking about isn't smart or he/she failed to convince the companies that he/she is. Perhaps he/she doesn't have the credentials, the experience, or the right recommendations. If you're a nobody and you're only bringing ideas, I think you shouldn't go to BlackRock and other huge financial institutions in the US, UK, or Switzerland.
Anyway, ideas can't be copyrighted. You can't claim an idea as yours. There are billions of people in the world. Ideas could occur to just anybody. He/she should've turned his/her idea into something solid, a concrete body of work, a whitepaper, for example, with all the details and specifications. Perhaps only then could he/she accuse BlackRock and others of stealing what's his/hers.
Ive seen stories like this many times over the years, and while I dont doubt that individuals outside the system often have strong insights, we need to be careful about how we interpret causality here.
Large institutions like BlackRock, central banks, or governments dont operate on single external ideas or individuals. These organizations have hundreds of researchers, economists, quants, and policy advisors, and many of the concepts you mention
This is not uncommon with big companies. They are usually seen as evil for a reason. They want the ideas but not to pay a lot for it. Even if they are already seen as big companies they dont want to spend as much as possible. Even their employees are not being paid well. In systems like banks, only those at the top end up benefiting from everything.
I strongly believe in your point, government and some institution don't just rely on individual sources of idea to Carry out there activities that is reason government have many para-starter and sector, second they still engaged private companies for some consultation, getting details of what they desires of carrying.
Op I don't disagree that an idea can be stolen because it happens severally in some sector for instance in the music industry, many plagiarism is always inevitable. This happen most as some the individual is less engaged in their research and can't fund for certain requirements but cut corners, government is ready to spend all including sending of personnel outside their domain to source information or details of what they need 'gibrab16' emphasis is clear indication on what a government is capable of doing in addendum to My view.
Someone that was invited for interview by these big organisations you mentioned should be able to know how to convert those information to money. He can startup a compaby and seek partnership which he will easily get because to be called for interview by Blackrock and other banks in USA and Switzerland including US government, he must have prevented a wonderful CV laden with experience.
If you have idea that is not patented, you cannot really lay claims to it because it could challenged in the courts that such was not your idea.