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Everyone Involved Should Lose

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James Robertson

Posts: 29924
Nickname: jarober61
Registered: Jun, 2003

David Buck, Smalltalker at large
Everyone Involved Should Lose Posted: Dec 29, 2009 9:46 PM
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This post originated from an RSS feed registered with Agile Buzz by James Robertson.
Original Post: Everyone Involved Should Lose
Feed Title: Cincom Smalltalk Blog - Smalltalk with Rants
Feed URL: http://www.cincomsmalltalk.com/rssBlog/rssBlogView.xml
Feed Description: James Robertson comments on Cincom Smalltalk, the Smalltalk development community, and IT trends and issues in general.
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The more I think about the CrunchPad/JooJoo deal, the more I wonder just how smart Arrington is. Consider this point raised in early December by Arrington himself, about the vendor he was working with:

Fusion Garage is, and always has been, a company on the edge of going out of business. Their main shareholder, the guy who wrote the now infamous email telling us that we were no longer part of the project, is a chiropractor named Bruce Lee. The company was constantly raising debt from unsavory investors, borderline loansharks, to make payroll. We paid a lot of expenses directly, and we agreed with Fusion Garage that they had to clean up their cap table before we could acquire them. Fusion Garage agreed and attempted to do this but was never successful.

Add to that the fact that Arrington entered into a "handshake" deal with these people. He's allegedly a lawyer; what would possess him to go into business with a company in the situation he described above without any written agreement? That's just... insane. IMHO, both Arrington and Fusion garage should lose, on the grounds that they're both too stupid to walk, much less execute a business deal.

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