Adult Startup Zivity Cuts 1/3 Of Staff

[DannyCox]

Sounds like 1998 all over again with start-up money for Internet companies. We had Zero Knowledge here in Montreal that managed to get over $75 million in investment back then, and blew through it in a year. Of course, the company shareholders (all family) all ended up with huge homes and expensive cars as they bonused themselves most of the money.

One of the brothers lives just down the street from me and is selling his house for $2.1m. It just went up on the market a week or so ago. I have a feeling he finally has blown through all the cash.