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Don't fool yourself mate, it's not valid grounds for a chargeback by itself. It would be fraud if you tried to reclaim your money just because a company got acquired by another. If they didn't terminate your services or anything.
In my almost 11 years here I've seen this stunt performed more than 4 times here on LeT, but suit yourself.
I don't see the relevance. A business can buy another business and continue to honor customer contracts. This is not a reason for a chargeback.
The behavior in this thread and in the discord screenshots looks more like it's run by a 14yr old kid with multiple made up names, not a large company.
None of it makes any sense. Glad I don't have a stake in any of this.
Like most of LET posts then?
Most of the posts here in this thread and ones like it are 90%+ by people just wanting someone to sink so they can revel in their failure.
So far, the "exit scam" is not exiting—none of what they are doing points to an exit scam.
Sure, but most companies buying another business with the intent to honour customer contracts don't usually say in their very first public statement that they're just supporting the existing customers out of the goodness of their heart, and that they're making a massive loss from doing it, that any deals they consider sold at a loss will just be cancelled, and that they won't be responsible for refunds, you'll have to take that up with the previous owner. That's about as far from showing intent to honour customer contracts as you can get.
If it's not exit scam, Lewis would have explained everything and introduced Eric. Then, try his best to refund everyone. But, that didn't happened.
Give them some time, it's Christmas!
Planning a hostile takeover of VeloxMedia. Will keep you all updated.
Yeah, I think Eric Lewis (EDIT: oops) was planning an exit scam, and then maybe because of my repeated reminders that as a sole trader he'd be personally liable for any losses unless he was bankrupt, I think he decided against it and tried to sell the company.
I suspect he probably felt pretty good getting shot of it, thinking that he'd no longer be liable for the debt, and I suspect also hadn't done enough research to know that he would still be responsible for honouring all those contracts. Depending on how many people decide to ride it out with Eric, he still might have done better than just apologising and giving everyone refunds.
As for Eric, I'm starting the believe that for him it really is about getting the machines with over generous provision of RAM and NVMe, ideally with no customers, so he can use them for his existing business. I think he actually wants to piss off as many as people as possible, because chargebacks only affect Lewis and with fewer customers to support, he can consolidate them onto fewer hosts and use the left over ones for his other business. Maybe if he keeps the better paying ones it might be worth letting them stay on. But wanting customers to leave certainly fits with the tickets where people are cancelled for just asking questions and not even complaining. He's either coming of this deal with a bargain on the machines or making a small loss depending on whether he lets lots of people stay using the VMs.
Either way, the interesting point is that maybe if Lewis had just let the company fold, he'd have been in much the same financial situation without all the bad credit stuff that will inevitable follow from this, and customers would have been just as protected in terms of chargeback ability due to him being a sole trader. In fact, arguably more protected, because anyone who stays who Eric cuts off after the chargeback window has passed will be screwed over.
But the hardware is rented, not owned.
Sure, but it still might be rented on much more favourable terms than Eric can get otherwise.
At least this is how things are presented.
Latest discord dump at https://v.yur.mom
Had to move server...
So as much of a shitshow as this thread was.
At first I was supportive of VeloxMedia, considering I have a VPS with them and it's been running fine (except for a brief downtime from a DDoS) despite the drama, but after seeing the childish replies he's been making here, on Discord, and in tickets, I can't anymore. Whether or not it's an exit scam, he's reacting in a wholly unprofessional way.
Shame on you.
Here's my recent experience with the "new" Velox Media.
I had a small personal project involving a Snikket server I wanted to play with in a test environment. I singed up with Velox and paid on 26th Dec, after Eric had taken over, just to see what I was missing out on (hint: really nothing special, even before things went wrong), and because I'm a bit of a masochist. I didn't really care if the service was crap or would deadpool in a couple of weeks & I could afford to lose the $7 I paid.
Firstly, I'm sure Eric said earlier in the thread that he was manually reviewing all orders so nothing weird was getting through. Well, the instant activation says otherwise.
I originaly signed up for "London: AMD EPYC 7742 - 3GB RAM, 1vCPU, 30GB Disk, 10Gbps Port".
I originally got 12GB RAM.
Opened a ticked to tell "them" becasue I was trying to be honest and not get something I'm not entitled to. Got a reply from Eric saying Thanks for the info, " There's a bit of misconfiguration we're reviewing between the sales and the servers."
Today, when I log in, I've got 1 vCPU, 1GB RAM, 10 GB Disk - so a third of the disk space and RAM I paid for. The IP address has also been changed, the VPS wiped and a different version of the OS installed with no notice of any of that given. I tried reinstalling the correct version from the panel, but now it won't boot at all and has completley dissapeared from their cloud panel.
To be fair, I've not raised a ticket to give "Eric" the chance to sort it - can't be arsed with that, so I just cancelled it from the end of the month I paid for. This is more a rant along the lines of you try to do the honest thing and end up getting shafted rather than I want something done about it. I fully expected it to be a steaming pile of dog poop going into it or that I could be dealing with a scammer.
It's also a heads up for others to check they haven't been moved to a new package without notice or consent.
Finally, yes there are T&Cs on Velox's site now (some of which are nonsensical or contradictory), but they wern't there when I signed up and I haven't been made explicitly aware of the T&C and AUP changes nor have I been given resonable time to accept or reject them, both of which are required by law. Technically I, nor anyone else who signed up between the time the T&Cs were deliberatly removed and the reinstated on 30th Dec are bound by any T&Cs or even an AUP. If Eric really has a legal team, they all need fired. Personally I suspect the reality is that, if Eric exists, he lives in his parents basement and the only experience he really has is playing Data Centre Simulator on Steam.
Data Centre Simulator on Steam.
That's a thing!?
YES and YES.
Lewis is not the brightest bulb.
He could have protect his personal asset by incorporating. Ceasing the deal offerings under the guise of node capacity, RAM price, etc. Then exit few months after.
Eric on one hand doesn't want to kick existing customer. Yet, he spewed those remarks. It's likely he want the optics, but can't cope with the toxicity.
But, why torment yourself when you could kick the existing customer? Move them to a node with HDD, 1c1g each and call it a day.
The most frustrating thing is that, despite the ToS saying no Tor relays are allowed at all (not even non-exits), Lewis gave me an explicit guarantee that he'd allow it in my case:
He must have said this after he was already aware that he was going to sell the company.
In fairness to Eric, he did say, after a little bit of "I can't make any guarantees", that I'd have no real problems with non-exit relays and that things could stay as they were (that does lend credence to Eric and Lewis being different people). So while Eric certainly has to stop acting out the way he is, I'm deeply disappointed that Lewis would make such a promise to me at a time when he knew he would not be in the position to keep that promise in the near future.
well, VeloxMedia, LLC users are not doing a chargeback because business was bought by other dude. The reason is Eric, the owner of Velox Media, LLC has threatened their customers that they are at his mercy to continue the server or not. It's always better to chargeback and shutdown the VPS from such provider who are irrational and bullying their users. If Eric didn't wanted customers that bought services from former owner Lewis, then he could have emailed everyone by professionally writing and telling his customers that he will be terminating their services as he finds it unsustainable. Instead, he choose to behave childish and very unprofessional so users left with only one option that is chargeback.
Moreover, since his name and brand Velox Media is now tarnished, I don't think anyone will now go and buy services from such a silly fellow.
Good decision that you cancelled your services from Velox Media.
What happened with other innocent buyer is: If you open a support ticket with Velox Media, they'll just terminate your VPS. It's better you cancelled. Like I said, its not misconfiguration, Eric the owner of Velox Media is purposely changing configurations, etc. I have never heard any web host totally shutting down the VPS and giving a new one without customer's consent or atleast emailing and informing customers in advance. Glad no one is using Velox Media servers for production sites or serious business or they would loose everything, now or in future. Like I said, Velox Media's customers new or old are at mercy of Eric. He can do whatever to their VPS without letting them know. That's more worse than EXIT SCAM.
That's why he claims not to have received payment from the Lewis? Because PayPal hasn't paid anyone yet.
I fail to understand your point, because we are always at the providers mercy. Any provider has the ability to suspend or delete services and accounts, or end contracts with money back. That is not to say that any provider will do it, but they certainly can. In this case it simply means the provider exercises their power to delete clients which chargeback or want out.
Please note I am not defending Eric or VeloxMedia; but merely stating the fact that a provider has the control to remove services or accounts.
well, providers do have the right, but I support them taking direct action rather than threatening users and leaving services in a state of uncertainty.
Same here
They've obviously been flagged
"Hello, We received notice you filed a dispute from Paypal and such have suspended your services to prevent filing fraud charges.
Eric Banks
Systems Management"
So shouldn’t this be Lewis’s issue, not Eric’s?