Here Comes The Boom! Startup Angel Portfolio Company Style
It happened. It came out of nowhere. Alarm bells started ringing. I could hear Lost In Space’s, Robby the Robot in the back of my mind, “Warning Will Robinson Warning.”
One of my Portfolio companies came out of Radio Silence. This company has not sent an update to investors in three years and magically one appears. Here’s an innocuous, cheery hopeful, break-even-ish even update. But really? No solid news. Not very informative. Light on specifics. Vaguely hinting at big things to come.
Does this mean they’ve turned the corner? Does this mean I should be happy that I didn’t sell all my shares for a dollar in order to get the tax write-off?
No… me thinks this is the executive team’s attempt to get us stupid sucker investors to forget that these guys dropped off the face of the earth. They’re trying to appear all cute and cuddly instead of the brain-eating zombie company that they have become.
I’m betting the next email or the one after that will be a, “Hey…. Have we got a deal for you! We’re going to allow you to throw more cash at us before we go back to our underground bunkers and forget all about the guys who once trusted us…. again.”