Tech Dream Turns Into Toxic Web
The story of now-defunct Spatial View is real-life Hollywood drama. The Canadian firm aspired to commercialize apparently-legitimate 3D technology. Its pre-IPO vibe was compelling, if not contagious. The problem was that it did not have enough capital to move the business forward. Its Brussels-based chairman — who committed suicide — appears to have conned his colleagues into dumping voluminous amounts of cash into a black hole. You can add bank fraud to the mix, not to mention an alleged capital infusion from the Dubai royal family. This saga is worth spotlighting precisely because it is not the traditional Silicon Valley success story. Among other missteps, investors did not press forward with hard accountability questions. Mind the lessons in this narrative. Startup-gone-bad is one thing; personal tragedy is another.
Learn more at the Toronto Star.
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