Re: Funding

["Lloyd R. Prentice" <pai@xxxxxxxx>]

Luis Commins wrote:
> 
> I would like to propose/announce the formal setting up of some sort of
> funding programme to aid Jeff in his endeavours at UltraTechnology. I know
> this may not be the best place to set this out but if anyone is interested
> or has any ideas (or rich uncles....) please let me know. 

I strongly agree that Jeff and the technology that he, Chuck and others
have been developing deserve support -- materially, technically, and
intellectually. Jeff, for one, has certainly put his own money and life
behind his
convictions. 

It seems to me that many funding/support models are possible, but that
underlying assumptions, goals and legalities need to be thought through
and implemented very carefully to avoid adverse outcomes. What do I mean
by adverse outcomes? I can think of at least four that are not
necessarily mutually exclusive: 1) Jeff fails to benefit fairly from the
fruits of his investment and labors while others do; 2) the technology
gets buried under litigation -- greedy squables over who owns what; 3)
the technology gets buried under corporate machinations as may have
happened at iTV; 4) the technology comes to market but in a form or at a
price that prevents wide dissemination.

It's easy to be atruistic and fair-minded during the early phases of a
venture. But what happens when people have made substantial time, money
and ego commitments and, suddenly,  mega profits loom? More than one
promising venture has self-destructed at this phase; and more than one
founder or early investor has gone away deeply bruised or wounded awhile
others walk away with the spoils. A sound legal structure created
at the beginning would minimize the chances of such things happening.

At base, I think the initiative has to come from Jeff. He has to make
clear what he wants to achieve and what he feels comfortable with. In
turn,
those of us who believe in him have to put our creative and
material resources to work in a format that we feel comfortable with.

Beyond that, I heartily endorse your proposal, Luis.

Incidently, from the few postings I've seen from Jeff since he went on
"vacation," I have the feeling that he's not drinking Pina Coladas. He
still seems to be hard at work. 


Lloyd R. Prentice