How did they ever raise such capital? I want in on it. Capex for R&D is prohibitive.
A company I used to work for was recently acquired because they were supposedly working on some kind of block chain technology. After the acquisition, all ‘work’ on the block chain was stopped and everyone reassigned to other, more mundane projects. Word is, the ex-CEO somehow sweet talked the acquirers with some fancy PowerPoint slides. He spends most of his time coming up with these proposals and shops them around…
A buddy works for a permanent startup. Has never shown a profit. He's convinced it's a money laundering operation. He likes the work, so he doesn't ask too many questions.