Chapter 011 - 2015.07.21

  • On this day, I received a disturbing email from the CEO/CFO of Statisfy.com.

  • A few years prior to this day -

    • Statisfy.com emerged -

      • after a merger of two companies.

  • Back up a little further -

    • and NHPC hired my old SNAP agency -

      • to help further develop a technology platform project -

        • I had been working on for years.

  • I paid them quite a bit of money -

    • to get their attention -

      • and to learn what I had developed.

  • In a matter of a few months -

    • they were convinced,

      • I had something innovative and marketable.

  • We ended the contract -

    • and became business partners.

  • A new business entity was formed -

    • to further develop the new app platform.

  • In a short period -

    • a Boston-based VC firm took notice of our app.

  • The merger happened quickly.

  • Statisfy was the resulting brand name.

  • $4 million in development capital was raised.

  • Our team got 40% of the stock.

  • Our team gave up control of development.

  • I became an unpaid consultant.

  • But I continued to work a lot.

  • They burned through the $4 million very quickly.

  • The email sent to me on this day -

    • threatened to take away our stock -

      • if we did not give them more cash.

  • I had never heard of this before.

  • It's called:

    • "Pay to Play" -

      • and it's a common practice in the investment world.

  • I hired an attorney -

    • to learn all this.

  • Another thing, I did on my own -

    • was to demand my stock certificates -

      • which had never been forwarded.

  • I told them they would get nothing more -

    • until these were in our hands.

  • But I also knew,

    • we would NOT be giving them another dime.

  • The writing was on the wall -

    • that the whole venture -

      • would soon be dead in the water.

  • They already had ruined the core concepts of the alternative solution.

  • The stories I could tell you -

    • about my personal experiences with their test group.

  • Picking on me and trying to force me out of the platform.

  • They obviously were not told that I was the original architect -

    • or they were told -

      • and told to get rid of me.

  • This is why I will NEVER again -

    • enter into a business arrangement with anyone else.

  • The only power I will ever possess -

    • is the power to publicly criticize -

      • when a group disrespects the intent of my work.

  • I now exist -

    • only to help ensure -

      • developer groups -

        • do things correctly.

  • To help all humanity -

    • vs. help their own wallets.