Wednesday, October 26, 2011

Litebox Followup...Where Is The Prototype?

I wrote the Litebox story below before I learned the company did not even have a prototype developed to show off at the big job announcement.  Wow.

According to media reports, Litebox's CEO Bob Yanagihara claims to have lined up $200 million of private investors to produce the high-tech, mobile video screens, so many that the company will be hiring 1,100 people for its Indianapolis operations.  He, however, wouldn't name any of the investors.

So these venture capitalists were persuaded by Yanagihara to invest hundreds of millions of dollars in a concept that existed only in computer simulations?   They handed over all that money without even so much as a single prototype of what Yanagihara intended to build and sell not only nationally but internationally?  The first thing you do when you have a new product that you want to sell investors on is you create a prototype.

I'm going to call BS on this one.

1 comment:

Cato said...

Google: litebrite