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.