Startup Funding: Who To Blame for the Lack of #DCTech Cash?

Who should we blame for the lack of startup funding in DC? Angel Investors - Let's blame the Angel Investors! Why aren't people like Mr Cranky investing in startups anymore? After all, wasn't Glen Hellman the #1 Angel Investor in the United States according to Tech Cocktail (tech.co) readers? Actually, no he wasn't and he, who is I, never was the #1 angel anywhere. He who is I, is (or am) also no longer an Angel Investor and the rest of this article describes why. Venture Capitalists - Let's blame the lack of startup funding on all the VC's who just don't "get it." Which isn't true if "it" is not understanding the value of a groovy app like Sick Weather. There is no it to get with apps like Trustify and Sick Weather.  The it that VCs do get however is the actually it that is the problem.  The it that is keeping them from actively investing in this region is that too few its have proven themselves to be worth it in DC as of late. That's why there used to be over 40 active VC's in this town and now there's only 4 or 5 or 6. The Government...

Evil - Fortify.VC

Trustify Lies and Washington Business Journal Bites

Yesterday, Andy Medici and the Washington Business Journal (WBJ) lowered the bar of business journalism by continuing to just reprint a Trustify Press Release instead of performing the any research. This story legitimizes the illegitimate. It's a disgrace. In yesterday's story Titled, Private detective startup Trustify adding 184 jobs in Arlington The WBJ embarrass themselves by aiding and abetting criminals. It's not the first time they've reprinted lies. It's not the first time I've pointed that out as you can see by this post: Washington Business Journal Buys Danny Boice Lies. Let's try and make sense of the senseless by quoting the WBJ in blue and rewriting to reflect reality. WBJ: "On-demand private investigator platform Trustify is spending $1.04 million to create 184 new jobs in Arlington, according to a joint press release by the startup and Gov. Terry McAuliffe’s office." Mr Cranky: "Highly-unreliable Dumpster fire formerly and more aptly known as Trustify assert they will spend $1.04 million to create 184 new jobs. They will spend the money to hire people to take care of their children, mow their lawn, clean their house, chauffeur them around and be personal servants...

A History Of Malfeasance – Peter Noce (updated 9/13/17)

Part 4 the final episode of A History of Malfeasance - Peter Noce Peter Noce, AKA Peter J. Noce, AKA Jay Noce, AKA Peter Joseph Noce The first 3 parts of this story focused extensively on Ikimbo, throughout the story a shadowy figure Peter Noce keeps popping up. Ikimbo Part 1 - I replace a CEO who threatened to quit if we didn't, in his words "sell," in reality give away Ikimbo to a company DDLabs run by Peter Noce Ikimbo Part 2 - I discover an email documenting a deal where the Ikimbo CEO would get partial ownership in Peter Noce's company DDLabs if and when the DDLabs "acquired" Ikimbo. Ikimbo Part 3 - Peter Noce's, DDLabs, Ikimbo's outsourced software development company gives away Ikimbo's Intellectual Property to a competitor. Part 1 - 3 have one thing in common...

Malfeasance - Sailboat Stuck on a Sandbar

A History Of Malfeasance – Turn of Century #DCTech Part 1

It was May, 2003. I had just finished my first "turnaround" as the President of Astracon, a Denver-Colorado/Brisbane-Australia-based company that had raised over $70 million from Cisco Systems, Geocapital Partners, The Edgewater Funds, Cross Atlantic Capital Partners and Australasian Media & Communications Fund. We sold the assets of that company with a less than stellar result. In the end, the investors realized a $2 million return on a $70 million investment. I was pretty sure that was my last "turn-around." Looking back on Astracon I'd blame the poor results on sub par execution, specifically, a lack of attention to results, an inattention to culture which resulted in division and distrust between teams, constant shifting focus, and way too much money too soon. There was no maleficence. With that behind me, I moved into the consulting phase of a Turn-Around exec. Consulting phase? One thing I learned doing turnarounds is you spend a lot of time as a "consultant." You know what a consultant is right? That's a thing you do in between jobs. So during my "consulting" time, I was lucky enough to land a non-paid, room-and-board-only, consulting gig as a crew member on Atlantica. A $1.5 million, Hinckley Southwester 42 making its way from its winter...

Jonathon Perrelli Bottle

Jonathon Perrelli Epilogue Part 3 (revised)

Prologue to the Jonathon Perrelli Epilogue Two weeks ago, I posted the first of a 3 part series Jonathon Perrelli Fortify VC Part 1 with a follow up Part 2 last week. Yup there goes Mr Cranky picking on a poor pioneer of DC's Startup Ecosystem. Not one of the people who protested about the series did so by refuting any of the facts presented in those posts. JP didn't respond to my request for information, nor did he reply in comments, except possibly under a the pseudonym "goonsquad" in the comment section of the first post. All of the folks who protested my first two blog post, protested with the same response...

The Fort - Jonathon Perrelli Fortify VC

Jonathon Perrelli Fortify VC Part 2

Jonathon Perrelli and Fortify VC Part 2 (see part 1) It was April 23rd and I had just posted an article about questionable startup investors titled, Pretangel Alert – Beware Fake VCs And Angels. That post was a warning for founders to be on the lookout for faux investors that pretend to be interested in investing with the true intention of garnering paid consulting engagements. In this post I non-derogatorily mentioned a couple of Investment Funds, including Fortify that were in a Zombie state...