> When I attended the first time to present, I found a nearly empty room with five or six people and another entrepreneur presenting on stage. Next up, was me. Before I started, I just asked, “Who were the actual Red Herring judges?” No one raised their hands. Since it was only five others, I asked who they were with. They were all entrepreneurs waiting to present next. We then realized, there were NO judges and NO “esteemed panel.”
I expected the "conference" to be lackluster and crappy, but I didn't expect that they would literally not even bother setting anything up for the awards. Amazing.
TIL that Red Herring still exists. As an aside, the blog that's the source for this article (http://www.techinasia.com/) is a fantastic English language source for what's going on in the Asian tech startup scene. Lots of coverage of big companies like Sina Weibo, Baidu, Renren, etc. Also coverage of smaller stuff. There's a lot of innovation happening in Asia, particularly in China, and this is one of the few English language sources doing detailed reporting that I know of.
Back in the late nineties a variation on this was for the scammer to call and say you'd be featured on some cable business show hosted by a big shot ex-politician. When they called me it was Casper Weinberger, but I remember hearing about other names too. The catch was that you had to pay the production costs of $15-25k.
This is also a common charity tactic. They throw a big dinner party honoring some rich guy, then shake down all his friends to pay for tables at dinner.
I've been there. We had a new person in the office who didn't believe that such scams could exist, so for the lulz they were assigned to deal with the person. They could say whatever they wanted as long as they didn't agree to pay.
The salesguy ended up screaming at our person who was just playing dumb.
We've had several of these companies approach our agriculture software company over the years. The key phrase to listen for is "scheduling fee" as that's what they call the $15k - $25k fee.
The most recent pitch was last year and the special host was to be Terry Bradshaw.
They contacted me before saying if I'm willing to pay for the $3,000, I will get the top 100 award. It's a joke. But there are still so many companies willing to pay them every year in Asia. So sad.
The Red Herring magazine and brand was bought years ago. The brand was whored out to promote Dasar conferences. If you want some sad entertainment, read through any Valleywag/Gawker articles about working at Red Herring. Sad thing is all the stories are easily verifiable - just talk to any ex-employee.
I used to work in a "multi-award winning" agency. They would pay extortionate amounts to win these awards given by people with absolutely no credibility in the industry. It wasn't an award, so much as an endorsement. The sad thing is, it used to work, clients lapped it up.
Why would anyone pay $3000 to attend a conference to receive an award, which in reality amounts to nothing?
Your users don't care about some stupid online award they've never heard of. If the investors you're talking to care about it then it's time to find new investors.
I remember being solicited for this in 2008, maybe 2009.
While it was pretty obvious that I could 'win' the award by paying for a conference ticket, I considered it - just so I could send out the press release, put the logo on my web site, and drop the name in client presentations. I figured I might get more value out of it than the few thousand dollars it cost, since we were selling into ad agencies and they seemed to value awards very highly. I also figured they wouldn't know this particular award was meaningless.
In the end I got a little too irritated by the sales guy's hard sell and passed, but I'm not certain it was a rational economic decision. Lots of ad technology companies trumpet their phony awards to the skies.
And those will be more susceptible to other scams. The 419ers operate off a similar logic -- it's a pre-screening for gullibility, cuts down on their sorting and selection task.
Hmm. I recently saw a company advertize their Red Herring award, and my scam-sense was tingling. I did a little looking and decided the whole thing was a bit of a scam, but targeted at me, the potential impressee.
I never considered the possibility of the company itself having been scammed.
JD Power isn't much better. Supposedly they really do select based on quality, but it's setup so you have to pay MASSIVE fees if you ever want to acknowledge publicly that you've won.
For what it's worth the US stage this year was a pretty professional production. Just viewing the pitches was worth the money. Notably, many of those that pitched -- including some competitors of ours, did not receive the award.
I expected the "conference" to be lackluster and crappy, but I didn't expect that they would literally not even bother setting anything up for the awards. Amazing.