My 2006 article titled My Very Bad Euclid Discoveries Experience struck a nerve when it was published, and like a shuffling zombie, it just won’t die. After receiving 635 comments, I’m blocking any more discussion on the article.
I’m not doing this to stifle dissent or anything like that - it’s just that the web page plus comments are so long that it is becoming impractical to read. Every try to scroll down to the bottom of that page on an iPhone? Not so fun. So new comments can come in on this page, for at least a few years.
Unfortunately for Euclid Investors, 2010 still looks pretty much like 2006. The company still says it is in the process of selling their IP, there are no public demos or information, and the vast majority of LLC owners seem to be completely in the dark and frustrated.
The people who care about this have split into two camps. The first, which includes me, sees Euclid as a non-viable entity, for one of several possible reasons. Reasons include the market window for their technology having closed years ago, or perhaps more likely the technical team promised something that they couldn’t deliver. And there are people who think it was just a sham from day one.
In any case, the people in the first camp believe the company is hanging on mostly so management can continue drawing salaries and living a nice lifestyle, perhaps overlapping with the startup of their next venture, Corista. The idea is that they will continue burning cash as long as it lasts, even if nothing of real value is being done with the shareholders money.
The people in the second camp believe in the eventual success of the Euclid team, or at least believe the team deserves some more time to deliver. They have reasonable explanations for the things that bother the first camp, such as the company’s invisible public profile, its failure to demo an IP, its failure to sell out in 2006, and so on.
So which camp are you in? And since you are posting anonymously, why not add one key piece of info: do you own shares directly in ED? Or do you own shares in an LLC that was constructed for the purpose of buying units of ED? I’d like to know.
If you are in the second camp, you have to be assuming that this is the year ED will finally put a bow on the thing and wrap it up. The meeting in February with the investment bankers hasn’t produced any public news, but surely something should be coming of it soon. What will you do if we ring in the new year of 2011 and things are still the same?
- Mark