The Funded Founder(s) To Unveil Themselves Tonight (Updated)
Michael Arrington
36 comments »
Mark this one down as a major PR stunt, but they certainly have our attention: The founder (or more likely, founders) of venture capital gossip site TheFunded, who have been keeping their names anonymous since March when the site launched, will spill the beans tonight and announce themselves.
Staying anonymous was probably smart, since more than a few VC’s have been miffed at all the negative feedback they’ve received from startups who’ve pitched them.
But tonight the group says they’ll be announcing themselves at an event at Stanford. The exact time of the announcement? 6:45 pm.
Clearly Jason Calacanis and Philip Kaplan are either part of it or know who is. Both are now at Stanford, and neither will take my calls.
Both Calacanis and Kaplan are currently at Sequoia-backed startups, by the way. Calacanis at Mahalo, Kapan at Adbrite.
As it’s announced, we’ll update.
Update: The man, “Ted”, behind “The Funded” is Adeo Ressi. Ressi founded and sold casual gaming site Game Trust to RealNetworks this September for around $20 million. He also serves on the board of the X Prize Foundation, best known by their cash prize for civilian space exploration. He was apparently screwed by a number of VCs in the past, which gave him the idea for the site.
Update 2: Apparently Wired was pre-briefed, has a picture and lots of background.
After this stunt, Calacanis should start a School of Stunts. He has more closet fans than he knows.
“So much for the value of friendship.”
Ouch, don’t be too bitter Mike. Friendship is overrated.
I’m guessing it is somebody whose company has already been acquired (and closed) and will never need another dime from a VC.
Though the DNA smells like Kaplan….what would Iggy say to that?
Their website has too much green in it. It looks like wallpaper from the 70’s. =)
“He was apparently screwed by a number of VCs in the past, which gave him the idea for the site.”
Payback’s a bitch…good site.
Let me guess… they’ll use this publicity to launch some other product?
Do you think that Paul Graham is an honest man?
Can I trust him?
I just saw the site and went through. I actually had some good laughs based on the reviews I read on some of these VC’s. It is really like http://www.ripoffreport.com/ except with a little twist and on VCs only.
A really cool product/service that may bring some of these VCs down from cloud nine.
There should be a simpler way to attract VCs without having to do a live demo like some auction or submit a snap shot and have them buy into the plan without even showing them the whole plan.
The way I see it, if you can say it in a few words and they are pros they should know just after a few sentences if it is a gold mine or not. That is the way I see it at least. 1-2 slides tops.
PUP,
MEET ME AT 14TH AND MINNA: D/N/T!
N_S_B,
WEATHERFORD BMW
i like that site, but the green is a bit much
Oh shi*t!!! Adeo Rossi - this guy is the biggest f*cking self consumed prick around. I was at a number of casual game conferences over the past couple of year and it was humerous how this ass would brag about himself and how his gametrust site was the biggest multi-player game site on the Internet. I would log on and there would less than 10 people online.
He was well known as making a big scene at conferences just to get attention. Screw him.
By the way - Adeo Rossi was “screwed” by VC’s because he can’t build a successful company. The Real Networks “sale” was a rescue for the VC’s. Rossi hardly saw anything.
“this guy is the biggest f*cking self consumed prick around” I could not help but laugh as I guess you have to be a pretty big prick to self consume it.
The site is very informative and very creative. Yes the green/eco thing is I guess his way of saying it is my site and I can do whatever I want with the design. I really do not like so much green though, then again more green for some means more cash flow.
I think it is a super concept to read about what people have to say about real live VC people. For an outsider it can be quite funny tor read stuff about people that may or may not be true but makes you sit up and say hmmm.
Will it be abused? That is the big question. What if some dude really had it in for person “X” and would not stop at anything. I mean VCs have the right to reject or accept without even saying thank you.
After all they did not send for your plan you sent it to them. Not to validate any bad behavior either but they do get 1,000s of plans seeking funding.
The Wired story is DEAD ON. Except, the part where some pro-VC says they bring more to the table than money. HUH! Yes, there are a couple good ones Kleiner, Sequoia but, not many.
Let me just give you my latest experience. The VC’s that came on board with my company should be out of business. The level of arrogance and incompetence has cost the real shareholders (employees and angels) MILLIONS of dollars. I can’t tell you how disgusted I am. The 16 to 18 hour days the founders put in to build a disruptive offering and change the dynamics of a multi billion dollar industry were f*uckig blown because of the lack of understanding of the business and vision - the never ending roadblocks.
As the ex prime minister of the state of Israel said: “Never Again”
I say, when the time is right I’ll EXPOSE these idiots: “Never Forget”
GEEZ!
I looked at the picture and thought that was James Carvelle!
I hate that guy!
http://fakesteveballmer.blogspot.com
Good info on for entrepreneurs. This is a good article http://www.webguild.org/2007/1.....cking.html
Film making not my feifdom, I do some VLOG Videos, But page views too less, But Media and Entertainment is in Boom, and Belive me Friend, Novel Trash is being gobbled at fantastic, astonishing and tantalizing rate.
If you make any good content chances are that return to investment would be more than lenier, In fact I believe it would be exponential.
Instead of concentrating on Technical points which is a given today differentiating factor should be finesse and art.
Did I say too much. Never Mind.
http://tekno-world.blogspot.com
I like Michael Arrington’s casual journalism style by using words like “screwd”. Btw, I watched a wired science on KQED, Adeo apparently had more hair than what appears here, and younger.
hah
Given that his previous deal didn’t pay out for him, this is one way to salvage his assets. The underlying idea isn’t bad.
@16 Fake Steve Balmer
That’s because you grew up in one of those funny southern churches:) lol
@13: You raise an interesting philosophical question. Could God create a prick so large that He Himself could not service it orally?
I think with these sort of things you have to take everything with a pinch of salt. Doesn’t matter whether it’s VCs or something on Amazon. You can’t believe everything you read, because that’s impossible as the reviews always vary. You just have to read them all and then make an educated guess as to where in the middle the truth lies. So comments like “You can’t trust their negative reviews, they’re unaccountable” miss the point.
Mike - VCCrunch? (I’m serious)
#22 it was based on a comment from #11. But I see the humor.
It is amazing that while being paid and funded to run a company, he had the time to start and operate this venture. Any entrepreneur or executive at a startup knows that to be successful you need to give all your time, energy, and focus to building the company. The fact he was doing this on the side is acknowledgment he was cheating the company, the company’s employees, and his investors.
RE:BADADEO - That is the stupidest thing I have read in a long time… Bone to pick?
Like the site. Wish there was a way to check it out without registering.
That guy has some balls! Nice work.
PUP FILL LOVING CUP
DRINK IT UP PUP, DRINK IT UP
TOMB INCONSOLABLE…WAITING IN WING
I worked with Adeo Ressi. He was the worst - repeat worst ceo. Management tried to go to the Board and warn them early on at Game Trust. Adeo fired them all! Anyone that uses the Funded to make a decision on VC is not that smart. If you’re going to get funded you should be doing your due dil on the investors as they do on you. Also, with regard to Adeo - he hit on several female employees, was an ass at conference, and is a manic person with serios mental health issues. Most of the bad posts on the site were prob written by Adeo, and the good posts on this and other blods written by him! Anyone and everyone that has met him, invested in a company he was running, worked for him, or done business with him knows and would never do it again!!!
BEFORE I FORGET: ADEO IS RETARDED. AND ADEO IS A VC!!! DID YOU KNOW THAT??? HE IS A VC!!! HE WROTE ALL OF THE POSTS. THE MEMBERS ARE ALL IN HIS MIND!!!! HE IS THAT CRAZY! SERIOUSLY. I KNOW HIM. I KNOW HIM WELL!!!!!