Steorn morons out of business

take everything wrote: »

This morons have finally gone out of business with their free energy bull****.

Dunno if they were bull****ting themselves or others. The investors losing 23 million were worse.

The hubris of the Celtic Tiger and truthiness got badly beaten up by the laws of physics.
Thank God.

Link. And what¿??????????????

Deleted User wrote: »

Because basking in the unemployment of people is exactly what we should be doing.

From Wiki: It announced in August 2006 it had developed a technology which provides "free, clean, and constant energy", apparently in violation of the law of conservation of energy, a fundamental principle of physics.[4]

Steorn challenged the scientific community to investigate their claim[5] and, in December 2006, said that it had chosen a jury of scientists to do so.[6] In June 2009 the jury gave its unanimous verdict that Steorn had not demonstrated the production of energy.

I think the issue is that they seemed to be poo poo-ing the laws of thermodynamics without being able (obviously!) to show any proof. Maybe they were doing other good work, who knows, but the free energy claims were laughed at a long time ago...

Deleted User wrote: »

Because basking in the unemployment of people is exactly what we should be doing.

Or basking in con artists being outed, maybe?

[Deleted User] wrote: »

Because basking in the unemployment of people is exactly what we should be doing.

Con artists finally ran out of people to con
Cry me a river

It would have been handy for powering those wind turbines yokes when there was no wind.

I remember they first came up in conversation here in AH a long time ago, people thought they were a joke back then also.

Unfortunate that people who lost their jobs, but can't find much sympathy for people who invested in a perpetual motion device.

Physics and god in the same exclamation, what sorcery is this!

The Sunday Business Post article was interesting. It seems that they had a load of small investors who kept doubling down to keep the thing afloat but even they realised they were being conned.

osarusan wrote: »

Unfortunate that people who lost their jobs, but can't find much sympathy for people who invested in a perpetual motion device.

I've not much sympathy for people involved in a pyramid scheme designed to scam people out of money loosing their jobs TBH.

ohnonotgmail wrote: »

The Sunday Business Post article was interesting. It seems that they had a load of small investors who kept doubling down to keep the thing afloat but even they realised they were being conned.

Sunken costs fallacy.

The guy at the top was also clever enough to keep promising big product launches. On the back of this he could gather some additional funding that would keep him afloat when eventually the product launch came to nothing.

Looks like a couple of months ago the main investors attempted to oust the CEO/Founder and just rebrand as a technology company. When he wouldn't go, they walked away and lo and behold six weeks later the company is out of business since they have no money.

The CEO is a great guy for convincing people to give him money for vapourware, no so great at the engineering part.

Deleted User wrote: »

Because basking in the unemployment of people is exactly what we should be doing.

They were a gang of charlatans who took 23 million euro of investors' money and whittled it away on their own salaries on an idea that was always, 100% guaranteed to fail because it was complete and utter nonsense.

They deserved to fail and I'm delighted that economics has forced them to stop where the collective opinion of the world's scientists wasn't able to.