Original report now removed as events have long since proved me wrong - we're all looking for the next ASOS.  After Jabil's initial commitment the boiler business model appeared serious, and scalable.  Sadly, all wasn't what it seemed.  FWIW, my key takeaways:

Meeting management of pre-commercial entities is unnecessary, even dangerous as dissemblance knows no bounds, as proved the case here.   Lack of meaningful financial performance involves taking a lot on trust.  Without an insider's advantage, early stage investing is, IMO, best avoided. Should also be noted that when a CEO of a fledgling business gets rewarded with a large bonus, as Tony Stiff did, before cash self-sufficiency is achieved then beware.   At the time Stiff's (initial) bonus appeared to have some justification due to the deal he secured with Jabil.  Lastly, and most importantly of all , however well-researched, never act decisively on someone else's judgment. 

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