The Startup Gurus or In Defense of Jason Calacanis

Last week, in an attempt to make a point, and in a lame attempt at humor, while making said point, I took cheap, but funny, at least funny to me, but probably not quite as funny to Jason, shots at Jason Calacanis. Let me apologize for one thing, as Startup Gurus go, Jason Calacanis is one of the best. The reason I took issue with Jason in that blog was questioning the value of a $500, four-hour meeting promoted to teach people how to become professional angel investors (see post here). Jason good-naturedly engaged in the dialogue and showed his metal. He displayed a sense of humor, a sense of self, he acted consistent with his public display of ego. He didn't cower and pretend he was above criticism. He defended himself and didn't block the messenger. The difference between a Jason Calacanis and phony Startup Gurus like Jonathon Perrelli is that Jp's self-image doesn't match his public display of ego. He knows he's a fraud. He knows his actions are indefensible so instead of engaging and responding to criticism he closes his ears. Jason's value includes his network of contacts, success in investing, and thoughtful content which makes Jason the real deal while the...

Trustify – The Fat Lady Sings

It ain't over until the fat lady sings. In the case of Trustify, the fat lady sings. She's singing loud and clear. With the Danny Boice, Jen Mellon nuptials (look it up in the dictionary, pretend Harvard boy Boice) in shambles, the company being sued by a long line of creditors so long that many people are asking the courts to start a Disney World Fastpass-like service. As I reported earlier in the week, Boice is contacting anyone with an email address and asking if they want to buy $1 million of his personal worthless shares in a worthless company for $1.50 per share. Basically he's asking, "who wants to buy -$5.00 shares for $1.50. Nobody...

Caution Danny Boice Trustify Secondary Shares For Sale

Caution Investors! Danny Boice is offering $1 Million of his personal Trustify Secondary Shares for sale. He is reaching out to investors to try and raise $1 million dollars, for himself personally and not for the company. By selling Trustify Secondary Shares, Danny and not the company gets the money and therefore the employees who have not been paid in months will not benefit from the sale. In multiple emails, Danny is reaching out to investors to sell shares he alleges were at one time worth $3 per share for the bargain basement price of $1.50. Back in December 2017 when Boice was out raising money for his series B, he presented the following to the market. While Danny Claims that the company did $8 million 2017 ARR claims that 2018 ARR would be $20 million, employees tell me they think revenue never exceeded $100 thousand in any month. As far as the companies Balance sheet is concerned the company owns no assets of any value and its debt well exceeds an estimated $2 million. How has the staffing evolved since raising a round in 2018? Fake, retroactive-cofounder and soon to be Danny's Ex-wife, Jen Mellon, left her husband to become a human and left the...

Joanne Boice’s Case Against Danny Boice, Trustify

People ask me what Danny's beef with his ex-wife has to do with the alleged fraud at Trustify. Here's the thing. Danny has started a lawsuit against his wife but dropped it when he was ordered to comply with his ex-wife's request for discovery. That discovery request asked for financial information on Danny Boice, Trustify and other information. Danny dropped the case, in my opinion in order to keep his financially cooked-books under wraps. His ex-wife, however, countersued and the court ordered that Danny produce the financials. Danny defied the court and still didn't comply. What is Danny Boice hiding? Why has he gone from suing his ex-wife for full custody of his children to putting himself in jeopardy of losing any custody of his children? For those of you interested in what's happening with Danny Boice, Trustify. Months ago, he sued his ex-wife Joanne for full custody of their children. I believe Danny is using the cash from his investors to harass his ex-wife. It wasn't bad enough that he cheated on her with her best friend. Abandoned her. Left her destitute by lying about his financial condition in order to pay a bare minimum of child support. He wanted...