It's an unpaid internship opportunity
I agree this isn't a good idea. But just giving them the benefit of the doubt.... are you sure this is a grift? That seems harsh. I don't see any nefarious history about these guys. It seems like they're actually building a prototype boat. They're clear on their website how slow this will be (67 minutes from Watertown to the Hatch Bandshell, which seems close to right). They just think people will sacrifice time for comfort.
Sorry if I'm nitpicking here, but these just seem like earnest entrepreneurs with a bad idea. There's nothing wrong with that. It's their money and they can prove us wrong. And in that case I say Godspeed. (which unfortunately for them, is mostly 6 miles per hour)
Lol, no - the coaches launches that they chase the college kids on are powered and often not exactly small. I couldn't find a good photo of one on the Charles, but they look like this.
Each of the Boathouses on the Charles has at least a half a dozen of these, if you look at Google imagery. CRI here, Northeastern, MIT... Without exception, rowing teams have them, and if those "wakeless" power boats have an exemption for speed on the Charles, I can see how the Wada Hoppah folks think it's a possibility for them too - it likely explains why they think they need a bespoke craft.
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HenryAlan
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You could be right, and I might be too cynical. But the question rests somewhat on who's money they are spending. If it is indeed their own, then earnest but naïve is perhaps correct. But if they are seeking investors, then I will again suggest they are trying to con those investors.
I still disagree a bit. Investors are also allowed to put their money into bad ideas, and again, maybe they prove us wrong. It's only a grift or a con if these guys are lying to investors, but really, they seem to be pretty forthright even on the limitations of the project. They show the speed limits and slow timetable on their website. The boat render shows the small capacity. In a quick google around, they talk in interviews about the need for more electric boat chargers on the Charles, and maybe that affects them, they'll see. It looks like any investor would be going in with all the relevant facts and they can make their own decision with their own money. That's not a con, I don't think. It's a little weird the way they're hyping up this wakeless boat*, but that seems like standard business hyping of some technology and waaaaaaaay short of any kind of fraud.
* even the wakeless boat seems to serve a purpose, even if they're not explaining it well. There is a speed limit on the Charles, and also you can't "create a wake within 50 yards of a canoe, shell, rowboat, kayak, sail boat or similar non-motorized vessel." Source. So their wakeless boat lets them go the speed limit, even if other boats are around.
Koopzilla24
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The exceptions probably go as far as a human-powered vessel or university teams training to bring glory to the City of Boston, the former probably only being possible by the latter (bar some insane Looney Tunes-esque kayaker or paddleboarder).