32 Years Down the Toilet: Neokast 2.0
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I received a large response from my most recent column on the Neokast mystery. The most interesting post was this one:
Um, the real answer to from someone who knows is much simpler and less intriguing:
a) NK’s management team had no business experience in either the streaming space or in running tech startups
b) Said Mr. Johnson was arrogant and unwilling to accept the above point
c) He was unable to come up with a business model that made money
d) He did not want to raise venture capital until it was too late to do so
Btw, there was never any serious offer from Microsoft or anyone else. And the company shut down because their angel investors (who were not themselves experienced venture investors, rather friends of Mr. Johnson’s father), got cold feet (as they should have) when said Mr. Johnson could not come up with a sensible business model.
Arrogance + Inexperience = shutdown, no matter how good the original idea, or how great the software team.
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Now THIS suddenly sounds plausible!!
I have met the people involved and see a lot of wisdom in this response. I heard that the Microsoft offer was low-ball. I believe the company fumbled the chance for quick funding which I, frankly, handed them. While I didn’t at the time sense frustration in the dev team it comes inevitably if the work is left too long on the stove. Adam Johnson was WAY too much into being with all those pretty girls. The only part I can’t understand is why none of these guys will talk to me? Are they just embarrassed?
Thanks for the insight.
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