I could not have said it better myself.
People, like me, who also point these things out, are constantly told I am "living in the past", but just as these people who accuse me of living in the past cannot understand where I come from, so I cannot understand how they keep on saying 'but this time is different' every time the company announces something new.
Anyway, I did not start out as a critic of Moller's business practices. In fact, I was arguably his biggest fan at one stage of my life. I defended him when people said he was a crook. I got excited when he announced test flights and deals. I bought stock, but never because I thought it would make me rich. All I wanted was to own a very small part of what I thought was the future of aviation and transportation. I wrote letters to Dr Moller congratulating and supporting him. I bought (and still own) the toy models that was available at a time. But I got disappointed one too many times.
Actually, it was e-mail messages between me and Bruce Calkins which pushed me to the 'dark side'. Those e-mails made it clear to me that many of the promises Moller announced stopped with making the announcement and that no actual planning went into it and no intention was ever made to honor said promises. It was all done with the eye on baiting potential investors. And by investors I don't mean Joe Soap buying a couple of bucks worth of stock, I mean big guys willing to put up the cash to perhaps sponsor a test flight.
Actually, if I was living in the past I would have been here defending Moller like I did at one time...
I remember Jeff, myself and another guy fronting attacks on Moller just after I joined the Yahoo group. I became disillusioned first, then the other guy. I cannot remember his name. We were also both asked to leave the facebook group after the $480 million "China Deal" fell through. A potential deal that actually had me a little excited, but I used the spike in SP to offload my shares. Good move on my part there.
AI
