throwaway280382's comments

throwaway280382 | 2 years ago | on: Ask HN: Any advice for someone looking to buy an existing business?

Well, I was relatively naive but luckily the person was honest. So I did not have issues. But here are some suggestions. 1) Open an escrow account, pay some money for it. 2) Put source code, domain name transfership, any business doducments in that escrow. 3) Ask seller to provider support to you for 1-3 months. This should go into contract. 4) Release money in installmeents. 5) Release from escrow only after you are satisfied!

throwaway280382 | 2 years ago | on: Ask HN: Any advice for someone looking to buy an existing business?

I bought a similar website on transferslot sometime ago for $15000. Later I realized I dont have time between day job, kids and general family life to pursue this business further. I let it die :(

Luckily, for $15000 I figured out I am bad at business.

Lesson for you: Unless you have done some amount of business/customers/sales/marketing before, dont spend such a big amount of money on your first venture.

throwaway280382 | 2 years ago | on: Layoff Runbook

>You don't need to worry about being locked out of your 401K after being sacked. It's still your money and they have to give you access to it, even after you're sacked. Transfer the money out to a separate 401K account that only you control after you've left the company. (Or don't, because I'm pretty sure they have to keep your account open indefinitely, but IANAL so ask a professional)

You will not be locked out of 401k when you quit but they will charge about $25 per quarter ($100 per year) to maintain your account. I feel it is still a good deal and I left my 401k with my previous employers. so far I have $300k in 401k, so $300/year to maintain the portfolio (across three previous employers) and not messing it up by moving it around seems like a safe deal to me.

throwaway280382 | 2 years ago | on: Layoff Runbook

HSA is deferred for future. I (in 30% tax bracket and pretty healthy) can defer that to future as I only average about two doctor visits per year last 2 years. So, if I put it in FSA, I loose the money since my number of visits to doctor are few and far between. HSA, I can use after I retire also or when I grow older. So for my situation, it is better.

throwaway280382 | 2 years ago | on: Tiny, cheap smart speakers unlocked the rise of digital payments in India

Not mentioned in the article but I asked a shopkeeper why they use it. Answer is fraud. Earlier, customers would download a "fake" app, which miciked online gateway's UI. Customer would punch in money, and show to shopkeeper that "payment went through". Customer takes goods with them and leaves. Shopkeeper looses money.

With this sound box, shopkeeper gives goods ONLY after the box makes sound. Now imagine if a elderly or illiterate relative of shopowner is manning the shop. They may not know how to operate their "banking" app to make sure money has reached. The sound box removes that problem.

throwaway280382 | 2 years ago | on: Ask HN: Co-Founder? Seeking Co-Founder?

Thanks for the thread.

I am loking for a part time business person/CEO. I am a tech guy. Have 15+ years experience building backend systems. Now, I build user facing websites/services and release them. I have no knowledge of marketing/sales, so if you are a non tech guy who wants to do some fun projects, hit me up. Email in profile.

Currently, I am working on a website where people can post their code and ask for feedback. (Something http://pullrequest.com/)

Note that these are mostly side projects. Unless you are very good, they will be side projects for now :)

throwaway280382 | 3 years ago | on: Nalanda University flourished for more than seven centuries

There is no self hate going on. What we are saying is that India was on par with rest of the world. Lets just have an objective assessment of its's past instead of white washing everything that is old.

For example, we (collectively) do not know anything about drawbacks of Nalanda university. All we heard since childhood is that it is great

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