The substance behind the Photon gossip
One of the perks – and frustrations – of being a journalist is that you often get to hear interesting gossip.
Perk because it’s nice to hear these things first. Frustrating because you often can’t stand up for publication what you’ve heard.
For instance, long before Topia went down the tube, word was out on the grapevine that this wasn’t a company to do business with, or work for, if you wanted to get paid. But until the administrator was called in, little could be written without facing a libel risk.
There were also lurid tales swirling around Blue Freeway well before the whole thing publicly imploded.
yes, but do these accountants know a good ad from a bad one? maybe a few who do will be considering buybacks?
Gossip as gospel truth.
Have a look at comments posted starting today (25/6) umder “Speculation…Tim Hughes”.
It is ironic that this gossip or truth was spawned by the initial posting by Sean Langdon, CEO of Precinct (a Photon company). He was naive to have not expected that spirited commentary would follow, much of it challenging his view. Especially naive when Photon includes a clutch of “new media” companies specialising in this medium as the message.
We talked to many of these groups and it was pretty obvious that they were not going to work out. It is a shame that some of the guys I know lost their companies, but to be honest it wasn’t difficult to spot at the beginning…
It was the old story of ‘sell me your company for equity in this bigger company that you have no control over…. you will make so much money… trust us! and if you want proof just look at these projections!…. oh, and those huge salaries for the main deal-makers… well they are worth it….”
Results have proven again and again that they are not worth it…