Pros
Great engineering team and RPMA works. The scale of what could be with this tech is massive! It has the potential to time the market very well..BUT..
Cons
Business team and CEO are completely incompetent. CEO is the lead investor but knows nothing about the company. He speaks only in the highest level platitudes, makes promises regarding funding that he can’t even possibly believe, then goes weeks without any communication to the team as payroll after payroll is missed, only to send notes that are chocked full of smug combat movies references that are incredibly insulting to the team’s intelligence not to mention the combat veterans that work here. The newly appointed “chief commercial officer” (the CEOs buddy) has no idea what this company does as evidenced by the latest press release for “platform as a service”. He’s closed off to any feedback and is never in the office. As a matter of fact, he believes we can close our office space because we can put the data center in the cloud. Well - our data center is already in the cloud which he would know if he talked to anyone and..it turns out a technology company needs office space especially a lab!! He believes the entire engineering team is irrelevant and can be let go without missing a beat. Pretty bold claim in regards to a.. TECHNOLOGY COMPANY! But on the other hand, if you’re trying to get a C-level executive (like our new “CCO”) to come into a situation of significant personal liability for payrolls missed, you’re likely going to be scraping the bottom of the barrel. So no surprises here. The fact of the matter is that the company is in control of our board which represents a single interest (Third Wave Ventures). They have the unfortunate combination of a) clearly having no access to capital b) no understanding of the business and c) delusional enough to not turn this company over to folks that can fundraiser and manage. As a matter of fact, their stranglehold on the company has NEVER been stronger!