I'm not the only one to think the lack of communication throughout "Balance's" lifespan was despicable.
Obviously most startups fail. That's fine.
Obviously most crowd investors don't understand this. That's a given.
It's not about that.
Real entrepreneurs and decent people update their investors and their supporters throughout the process. They are resourceful. You are clearly not. It was obvious within ~6 months that Balance would fail because or your piss poor communication and attitude. Many saw this.
All the best startups communicate openly about progress and iterate and collaborate with their people. Not the case here. Such a blatant failure of transparency.
And on top of ALL of that, you have this obnoxious, entitled, teenage response to your supporters and investors. It's absolutely mind blowing.
Of course you also haven't at all communicated this "new opportunity" you're dangling in front of everyone without any details. What is it, "Rainbow" or some shit? Where the hell is the post talking about this in detail and asking people if they even WANT to opt-into this after your childish behavior? At least let people get the docs for a tax write-off.
This is some rag tag, phony nonsense. You should be exposed to the crypto community for what you are. They only see you on Twitter with your generic clout posts. They should all see your comments on WeFunder and here to see what kind of toxic person you are.
You're one of those fake "I got ETH rich" people (even though you still mostly get supported by your daddy) and it's the precise cliche of an entitled millennial.
Please rethink your increasingly binary statements. Essentially, if an investor complains about losing money in Balance then according to you; They have never started a business / They have never invested in a startup / They have no understanding of cryptocurrency.
This is not the way to communicate to understandingly upset investors from a CEO that all but admitted he really didn't have a game-plan from the beginning and was hopelessly out of his depth in strategy and leadership.
Not everyone is cut out to be a CEO and I applaud your intention to attempt to give some funds/resources etc back to your investors. However if a company fails the first thing an investor wants to know is "where did the money go?" - and becoming increasingly defensive and rude on being asked to share audits etc does not chime with your intention to be as transparent as possible!
I've been a part of and invested in several start-ups - some successful, others not - so the loss of my investment is unimportant and part of the game.
It seems you didn't read the comments on WeFunder. I would say that most people were rude to you and for the right reasons. You announced that Balance failed, that you failed.
But then after a series of tweets that, you ended: "I am working on a way to give back to the people who have given so much to me. I will share more with you later this year."
Well, this is just poor communication. You should have waited to post until you could tell people EXACTLY how would you make things right for them.
And then, when people ask, you are also very vague: "It is not dead. It is transferring to a new entity.
Again, poor communication. If you do an update, do it right, tell people EXACTLY what is going on. What is this new entity? Will the investors be shareholders on this new entity? If not, then you MUST provide certificates of dissolution on the company people invested in.
What do you expect if you are not actually telling anything, and your answers are obscure and vague? People get concerned. Again: poor communication that backfires on you.
I'm not the only one to think the lack of communication throughout "Balance's" lifespan was despicable.
Obviously most startups fail. That's fine.
Obviously most crowd investors don't understand this. That's a given.
It's not about that.
Real entrepreneurs and decent people update their investors and their supporters throughout the process. They are resourceful. You are clearly not. It was obvious within ~6 months that Balance would fail because or your piss poor communication and attitude. Many saw this.
All the best startups communicate openly about progress and iterate and collaborate with their people. Not the case here. Such a blatant failure of transparency.
And on top of ALL of that, you have this obnoxious, entitled, teenage response to your supporters and investors. It's absolutely mind blowing.
Of course you also haven't at all communicated this "new opportunity" you're dangling in front of everyone without any details. What is it, "Rainbow" or some shit? Where the hell is the post talking about this in detail and asking people if they even WANT to opt-into this after your childish behavior? At least let people get the docs for a tax write-off.
This is some rag tag, phony nonsense. You should be exposed to the crypto community for what you are. They only see you on Twitter with your generic clout posts. They should all see your comments on WeFunder and here to see what kind of toxic person you are.
You're one of those fake "I got ETH rich" people (even though you still mostly get supported by your daddy) and it's the precise cliche of an entitled millennial.
You'll be exposed soon enough.
Please rethink your increasingly binary statements. Essentially, if an investor complains about losing money in Balance then according to you; They have never started a business / They have never invested in a startup / They have no understanding of cryptocurrency.
This is not the way to communicate to understandingly upset investors from a CEO that all but admitted he really didn't have a game-plan from the beginning and was hopelessly out of his depth in strategy and leadership.
Not everyone is cut out to be a CEO and I applaud your intention to attempt to give some funds/resources etc back to your investors. However if a company fails the first thing an investor wants to know is "where did the money go?" - and becoming increasingly defensive and rude on being asked to share audits etc does not chime with your intention to be as transparent as possible!
I've been a part of and invested in several start-ups - some successful, others not - so the loss of my investment is unimportant and part of the game.
It seems you didn't read the comments on WeFunder. I would say that most people were rude to you and for the right reasons. You announced that Balance failed, that you failed.
But then after a series of tweets that, you ended: "I am working on a way to give back to the people who have given so much to me. I will share more with you later this year."
Well, this is just poor communication. You should have waited to post until you could tell people EXACTLY how would you make things right for them.
And then, when people ask, you are also very vague: "It is not dead. It is transferring to a new entity.
Again, poor communication. If you do an update, do it right, tell people EXACTLY what is going on. What is this new entity? Will the investors be shareholders on this new entity? If not, then you MUST provide certificates of dissolution on the company people invested in.
What do you expect if you are not actually telling anything, and your answers are obscure and vague? People get concerned. Again: poor communication that backfires on you.