Slashdot Mirror
Ice Tea Company Rebrands as 'Long Blockchain' and Stock Price Triples (arstechnica.com)
The Long Island Ice Tea Corporation is exactly what it sounds like: a company that sells people bottled iced tea and lemonade. But today the company announced a significant change of strategy that would start with changing its name to "Long Blockchain Corporation." From a report: The company was "shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology," the company said in a Thursday morning press release. "Emerging blockchain technologies are creating a fundamental paradigm shift across the global marketplace," the company said. The stock market loved the announcement. Trading opened Thursday morning more than 200 percent higher than Wednesday night's closing price. The company isn't getting out of the iced tea business. "The Company will continue to operate Long Island Brand Beverages, LLC as a wholly-owned subsidiary," the company writes in its press release. The new blockchain efforts are only in their "preliminary stages," the press release says, and will likely involve investing or forming partnerships with other companies. One potential partner is providing "blockchain infrastructure for the financial services industry." Another is building a "new smart contract platform for building decentralized applications."
Soon to be separated.
Hi all, I'm starting a new company called Super-awesome-blockchain-bitcoin-make-you-money-LLC. I'm still in the "preliminary stages" of setting up said company but it's gonna be awesome. You can send all your money to me at my P.O. Box. ~SMH
The stupid and their money are easily parted.
The jargon is strong with this one.
You are welcome on my lawn.
A QR code on the container will tell you the source of every tea bag used to create your drink, and also tell you who was tea bagged buying the company's stock.
" But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?" Waiit, this was about bitco^hblockchain, so no need to fear prolonged contractions caused by inappropriate government-private sector collusion, corruption or politically and ideologically motivated economic policies run through the central banks.
A company that can make tea is best situated to make use of blockchain technology.
Anyone who's done any work for typical small-to-medium businesses owned and dominated by one person could see this coming a mile away. When I was starting out I worked for a couple of MSPs that were quite obviously pet projects for the owner. People like this will chase after anything that looks like they can squeeze a few bucks out before the bubble pops. It's just a personality trait -- they're hard-wired to chase money and will bounce from thing to thing picking up the crumbs, and seem naturally attracted to scammy business models.
A perfect example where I live is solar panels. There are dozens of fly-by-night companies who've set up shop alongside the big boys like Harvest Power and SolarCity. Every single one is just trying to sell sell sell enough people on overpriced equipment and service until the tax credits get repealed. When that happens, oops, business goes bankrupt and they move on. Federal tax credit on solar is 30% on equipment and installation, so every single one of these companies is marking the price of systems up by at least a few percent beyond that, and are directly taking advantage of the fact that most people are too dumb to understand how their taxes are computed. They just see "OMG huge tax credit" and sign up...and people like this Long Blockchain guy get to live large another day.
Just substitute "blockchain" for "dot com."
This is the third story I've seen of companies doing this. It hasn't failed to make me laugh.
This one is the best so far.
Their website is comedic gold:
"The Company is already in the preliminary stages of evaluating specific opportunities involving blockchain technology."
Really weaving a solid story on commercial traction and commitment there...
(this is offended to the end of comments you post, 120 chars)
"No one in this world, so far as I know — and I have searched the records for years, and employed agents to help me — has ever lost money by underestimating the intelligence of the great masses of the plain people. Nor has anyone ever lost public office thereby"
Post may contain irony: discontinue use if experiencing mood swings, nausea or elevated blood pressure.
...ed.
Ah who am I kidding? I have a slight moral compass and quite lazy when it comes to making a quick tech buck in entrepreneurial buzzword gold still after all these years. Hope it works out for them.............
Wonder if their ice tea is any good?
this seems to be a legitimate news story.
https://investors.longislandicedtea.com/
Long Blockchain Corp. Withdraws S-1 Registration Statement
December 21, 2017
Farmingdale, NY (December 21, 2017) â" Long Blockchain Corp. (NasdaqCM: LTEA) (the âoeCompanyâ) today announced that it has withdrawn its previously filed S-1 registration statement relating to a proposed underwritten public offering, which was filed on November 11, 2017. Earlier this morning, the Company announced that it has approved changing its name from âoeLong Island Iced Tea Corp.â to âoeLong Blockchain Corp.â and is shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology.
"I don't know, therefore Aliens" Wafflebox1
There used to be a railroad in the eastern US called the Seaboard Air Line Railroad, "air line" being a railroad term for "as the crow flies". Its stock price had a tendency to follow airline stocks.
After all, it was just a very small transition from 'beverage' to 'leverage'.
So now we put a blockchain inside of another blockchain. That will cause an exponential growth of both the blockchain and the money inside, resulting in infinite returns for investors.
wow, I feel so bad for all of the people they employed.
only a fucking retard would do something like this. does Trump own/run this company?
hey, I know we make wine, but let's get into car manufacturing, I know we know absolutely nothing about this, but trust me this will be a hugely great thing to do. we have nobody working for us skilled in this new venture, but what we're going to do is fire all of you and invest in a new direction. the really great thing about this is you won't have to pay taxes on your income anymore. Merry Christmas, we hope you have as wonderful of a Christmas as we will.
This company will be in the ground before the end of January 2018
So... Ripple?
#DeleteFacebook
One can only wish.
I think that hit all my buzzwords.
Recently I read that only 15% of Americans actually own stocks. It would appear that maybe some of those 15% don't really know what they are doing. Earlier this year before Snap Inc. (parent company of Snapchat and other programs) did its IPO, an unrelated company named Snap Interactive suddenly started having a lot more interest in its stock because people thought it was the parent company of Snapchat. Snap Interactive didn't even do anything to deceive anybody. People just wrong assumed they owned Snapchat. What's sad is that they could do just a small amount of research via searches on Google, Bing, etc. and determine that Snap Interactive wasn't the owner of Snapchat, but heck, it's just easier to buy stock on speculation rather than check stuff so let's do that.
I clicked the link in the story intending to read the article, but somehow ended up on Ars Technica instead of The Onion. Come on, slashdot...get some actual editors already and make sure your damn links work.
You won't want to miss getting in on the ground floor of the Dirty South House of Chicken, Waffles, and Blockchain.
Trading opened Thursday morning more than 200 percent higher
Unfortunately all the trades were done in BTC!
politicians are like babies' nappies: they should both be changed regularly and for the same reasons
that's what's making these silly decisions. Although part of me things this should be a canary in the coal mine for our economic system.
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
There is an army of bots scouring for anything "____coin" or "blockchain" and buying according the a predefined ruleset. They are probly set to dump it all once it begins a downward trend over a couple days.
The robot army is already in control.
At this point, I'm certain these guys are making out like bandits, but once that first dump trigger is hit, its gonna be a bloodbath.
More than one way to cash in on this crazy-train.
Disclosure: I don't gamble.
You are being ripped off every second of every day, so that advertisers can help rip you off even more tomorrow.
Back in the early '00 decade were were seriously advised by investment bankers to add a "dot com" to our name before doing our public offering. We were actually a networking products company enjoying a ride up on the dot com boom but the bankers thought in order for the stock to "take off" it had to be associated with this new thing called the web. (this was in the year 200x!)
At the end of the day we didn't do it but they were serious.
It was a joke web site Larry Ellison put out during the dotcom boom. They had a new company called "heyidiot.com" who's only product was their stock, which could only go up forever.
Creimer affiliate spam. Please mod down. Also report his affiliate ID to Amazon for spamming. They will ban him if enough of us do it. Please help the cause. Report Creimer today for spamming, as this is what it is, blatant spam. Every slashdot story, same link and post == spam.
Anyone want to invest in my crypt ochre/rent-sea chain block company? We deal in red and yellow pigments for graves and beachfront rental properties arranged in conjoined strips.
Once you pop once you pop
Once you pop THAT'S GREAT
A company for carrying on an undertaking of great advantage, but nobody to know what it is. and the result of this announcement, described in this paragraph:
For all intensive purposes, "whom" is no longer a word. That begs the question, "who cares"?
... to celebrate the burst of the Blockchain bubble.
Just reading the summary filled my BS bingo card!
Government's idea of a balanced budget: take money from the right pocket to balance...oh who am I kidding?
People are really stupid, but it makes me want to buy there drink just as an aside I am starting to explore the of the blockchain potential of AC posting anyone that want's to throw money at me can contact me right here if the have the computing power to mine my post
Hey editors, I think you forgot to attach the Monty Python foot icon to this article.
Comment removed based on user account deletion
Not *earned* . Aka: Not in exchange for having worked for it.
But somebody gets to tell you to *acually work* more to earn more of his money, because somebody *believed* that a company is worth more. No chance that that is bullshit. No chance he just did changed his view to get more free work from us. Nu-uh. Just good honest capitalism, the foundation of our society ... of moronic livestock being milked for work by selfish psychos who never worked a day in their lives, except to tell you to work, and to avoid actual work. Telling you you are a selfish moocher if you want the same.
Resellers, corporate owners, the media industry, banking & stocks, ⦠they all are merely just elaborate mooching thieves who came to power with what they stole from you and me.
Jabberwocky!
I really can't tell.
To have a right to do a thing is not at all the same as to be right in doing it
No wonder they changed the name - that was false and deceptive advertising!