I have a bit of an idea on this now. Thought I'd share them too.
This all goes to the heart of the matter. People can say that past failures are indicative of future performance but anyone that has tried to take a different path in life will understand that failing can sometimes be the best learning experience, one that can't be gotten any other way.
Simon is an ideas man. In the past he has attempted to transform those ideas into reality. And reality hit home, hard. Take this universal translator. Great idea, but reality? Look at the problems he had just getting the right staff for the job. Or capital.
It would have greatly benefited my first business, Roam Technologies, if the reform had come into effect sooner. I would have been able to offer my first three employees a share scheme rather than equity. In turn, this would have made it easier to court local venture capitalists and more equity in my business in return for a larger cash injection.
So he picked himself up, teamed up with people in the know and tried again in a way that would give him the resources needed to get the job done. It's easy to complain of delays and cash burn if you are ignorant of what is involved.
Which is exactly what this Talk to Geoffrey group of property developers seems to have done. We gave you $300,000, where's our Babel Fish? You need more resources to get there? Nope, we are after quick returns on investment. And we'll tell all our investor mates to bar you too to punish you for our ignorance. I wouldn't answer their calls either. Or bother explaining over and over. Simon is smart/wise enough to let the courts or the product talk for themselves these days.
My 3.1c worth for the day.
IMO DYOR GLTS
IOT Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
