The Business Of Porn Brings Down A CEO
from the but-why? dept
If you follow e-commerce or payment processing systems at all, you've probably known for years that iBill's main business was processing payments for porn sites. This wasn't particularly secret information. However, the CEO of the company that bought iBill is now in trouble for hiding the porn aspect of the business. It's not entirely clearly what the big deal is. First off, as mentioned, iBill's business wasn't at all secret. Second, if the company made a conscious decision to get into the business (and it apparently does generate plenty of cash), what's the problem? They don't seem to be accused of doing anything illegal. There are plenty of perfectly legitimate businesses out there that make money from porn. It's certainly an investors right not to invest in such companies (and the CEO, in this case, should have been much more forthcoming about how much of iBill's business was porn), but why is this such a big deal?
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Maybe other CEOs should get in trouble too
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I misread it
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