Dear Balance Community,
I took 3 months off last year to recover & reset. Balance as a company was not growing revenue fast enough. I could not raise more capital for the company & so I poured huge sums of my personal savings into it to keep it alive. I was also failing my team as a CEO. They got tired of my management style, which was erratic & irritating. My team forked away the open source code to start a new company called Rainbow.
All of you have supported Balance in different ways. Some of you paid for our products. Some of you retweeted my Tweets. Some of you invested in our crowdfunding campaign.
I feel an enormous sense of gratitude towards this community of people who have backed me with their time, energy & money.
I owe you all. A lot.
A quick refresher:
2014: I helped out Ethereum for a couple months on some user interface concepts.
2015: I was paid a little bit of Ether from the foundation for the design work I did.
2016: I started Balance, a macOS app company with two friends on a pirate ship.
2017: The price of Ether sky-rocketed & I got sucked down the rabbit hole.
2018: Balance shipped 4 major releases & moved over $20,000,000+ on Ethereum.
2019: I lost both of my grandmothers, the faith of my team & the love of my partner.
Please read this Twitter thread about why I shut down Balance’s products:
While Balance has not been a commercial success, the things it has taught me will contribute massively to my future financial success. It gave me:
Access to the United States
A huge presence on Twitter
Time to study how Ethereum works
Early access to incredible investments
Offers to join the advisory boards of companies
Access to huge amounts of confidential information
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.
Follow me on Twitter: http://twitter.com/ricburton