I researched Lorsch's fascinating background. I think EZ and his pals just hoped they could ride along with another of his deals. Lorsch apparently did make a ton of money from about 1995 to 1998 with a telephone calling card stock called Smartalk which is a perfect example of why I shun low-tier NASADAQ stocks.
Smartalk had a market cap of about $700 million very briefly around 1997 when it disintegrated amid a storm of accounting restatements and lawsuits. It had virtually no substance. But that says more about Dot Com era investors than it does about Lorsch. He was in the very best place (a tech stock) at the very best time (late 90s). Perfect timing, but probably just dumb luck. Lorsch even says he was a poor student in high school and he never went to college.
The patent troll part came later...
Lorsch's day has come and gone. MMRF couldn't support his lifestyle or that of his new porn actress wife. Likely, his end will be ugly.
What's especially interesting is Lorsch's menagerie of acquaintances. He seems to know every Mercedes-driving scumbag in LA, and that's a lot of people.
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Because the Good Life is Just a Pump or Two Away
AI
