7/11/2009: A Cautionary Tale about Startups
Living in Silicon Valley, I have great faith in the startup engine that has fueled so much innovation and created such great wealth.
Unfortunately, every field has its share of con artists, one example being 99Vine (aka HomePeople), a company that is alledged to have ripped off many employees and contractors.
The 99Vine story points out the need for contractors and startup employees to do a certain amount of due diligence. If people checked the background and references on the founder, and insisted on SEEING paperwork relating to alleged financing, stories like this would never happen.
But then, con artists depend on the fact that most of us want to believe the best about people.
Wherefore art thou, Romio?
Update: Having earned a very bad reputation on the Internet, 99vine has changed its name to Romio... and claims that their site will launch on April 30, 2011.