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Tuesday, December 05, 2023 12:43:58 PM
As far as execution, Foote has been a complete failure but he keeps generating stories. He's never going to throw in the towel as long as investors keep paying him by buying up all of the dilution, any more than any bad employee will quit his job as long as his employer keeps paying him well. It has been three years and Foote has demonstrated his incompetence at every stage. He sits around with his app team and comes up with ideas for apps. He sells his app idea to investors by press releases and then the apps invariably fail to get hardly any users, let alone revenues or profitability. Then he rinses and repeats.
It's up to each individual investor to figure out when to fire Foote and his team or whether to keep believing in him while paying him $300k per month.
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