OpenRuby.com

01 Aug '12, 4pm

I'm on Reddit for AMA about us being the first #car #manufacturer to accept #bitcoin. -Joe

Aptera took Venture Capital, a few million dollars worth, in exchange for the VC firm having the right to cancel the project and retain all rights and IP if they got cold feet. These terms are common from VC. While we were in the X Prize with them, the VC firm fired the original team of engineers (7 of them I believe) and by contract those engineers are forbidden to work on anything related to the Aptera project or its technology ever again. The original engineers had personal loans that in aggregate were over a million dollars in order to produce the first working prototypes that attracted the VC in the first place, and now those engineers had no job- no way to continue working on their passion and area of expertise, and still had these massive personal loans. the only group that was paid were the VC, which then liquidated the assets of the company (http://www.youtube.com...

Full article: http://www.reddit.com/r/Bitcoin/comments/xig8o/im_joe_jus...

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