I would wholeheartedly disagree with this take, I am an African, I started a business, with my own capital and 6 years later its still going. I know people who have done the same, I know people who have raised capital too.
When you raise money, you're WILLINGLY enterting into a legal financial contract you're agreeing to the terms and you're deflecting risk off yourself to place it on a 3rd party who rightly so should be have compensation for the amount of risk they are taking, how you view that terms is up to the individual but its still a concentual agreement. Many people who have your take do not consider the risk of going to zero but the LP has to, that's the difference
Is capital distribution through fiat money unfair? Absolutely, but that's got nothing to do with individual agreements.
I also find it conflicting that you would hold this opinion, yet you're actively promoting shitcoins that are in fact an unfair system sold to people under a false pretense with NO legally binding agreements. Do you not see the irony and hypocracy in your statements?
Well, In reality, I've seen people who have entered into contracts not binding, not legal, not lawful, because someone is offering to help them build their dream, finance it and get it running. Not everyone can raise capitals, (if you've seen some terrible systems you'd understand what I mean) They see the future, but they don't consider the fact that they're getting into a contract where they'll be exploited, it boils down to many not have the right financial education as this isn't taught in school.
This is the main point in this video, and not the point you're raising. I try to use Nigeria as a case study but I have friends in places like Botswana where this happens as well.
You" in context of promoting shitcoin
shouldn't be definitive as I haven't promoted one before, unless you say Hive is a shitcoin.
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It depends, people's ignorance of the laws that govern them isn't an excuse, in certain regards verbal agreements are legally binding.
Now you're talking about fraud or duress, that is completely different and these are criminal offenses, and cannot be conflated with agreements.