The online mall, Mall Plus, based on software developed by Dunedin company, The Street, is still not open. The Dunedin City Council will be lucky to get a return on the $700,000 that it has invested in The Street. I have contributed to the discussion in the ODT.
The ODT removed this link, to Silicon Valley's Paul Graham's discussion of startups, from my comments post.
Subscribe to:
Post Comments (Atom)
Posts
It will be interesting to see how the 'online mall' goes when it does open; telecom didn't manage to make any money on ferrit.co.nz, so I wonder if the fancy graphics will make any difference?
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteAhh vindication!
ReplyDeleteI met with Norman Evans of Upstart incubator in 2006 to express my concerns at the viability of 'The Street' - given that my rates money was tied up in the project I felt justified in attempting to get some further information on the project.
Evans was quite simply the most arrogant, individual that I have ever dealt with.
He literally told me that I was an idiot with no business acumen whatsoever - and his smug answer to all my questions was that The Street's "end game" was nothing less than "global domination" - he seriously told me that he believed they would be bigger than google in 5 years!!!!!
It is galling to see that Evans seems to have avoided any bad press relating to the inevitable collapse of this cyber-pig - given that he was instrumental to it's formation and stood to gain from an 'upside-only' incentive structure in his salary package if the pig flew.
Thanks to The Autocrat for this information
ReplyDeleteNobody seems to have had any bad press from The Street going bust. Others who should be held to account are Dunedin City Holdings chief executive, Bevan Dodds, and chairman, Paul Hudson.
I hope DCHL's property speculation in Luggate and Jack's Point is more sucessful than this venture.