Wow... Talk about a complete reinvention. I just read this press release and I can only think what a waste of investors' money from the start.
I am talking about Foldera, a company which started as a "developer of web-based organization and collaboration software" and now decided their market is really selling network switches.
I see this as an example of where all this "web-based" craze is going if people keep investing in good ideas with short sighted implementations. Too much money being thrown into companies with no vision, or trying to solve a problem that doesn't exist - or doing it in the wrong way.
I am posting this because I think it's relevant to a topic Ben posted today on "web 2.0 and monetisation".
Want more "fail"? Their new web-site, linked from the press release doesn't even exist yet:
SANTA ANA, Calif.--(BUSINESS WIRE)--Foldera, Inc. (OTCBB: FDRA), today unveiled the Company’s new strategy, management team, market thrust, name and capital structure by issuing the following letter to shareholders.
Dear Shareholder:
We are pleased to announce that Foldera has now successfully transitioned itself from being a developer of web-based organization and collaboration software. We have searched to find the right market, management team and product with which to take the Company forward and we would like to take this opportunity to outline the Company’s future plans.
New Strategic Direction
The Company’s principal market moving forward is with the core network infrastructure of the telephone companies, cable operators and wireless suppliers. The Company has recruited a new management team with a wealth of telecom infrastructure experience and who have already independently completed much of the software development for a High Speed, High Density Carrier Grade Ethernet Switch that will be the Company’s initial product launch. Along with our product development partners, we are continuing to develop the software and hardware in a closely integrated program that will result in timely implementation of the system using components that will exceed all carrier and prospective customer requirements.
There are other players attempting to enter these markets. Cisco Systems (CSCO), Juniper (JNPR), Force10, Alcatel-Lucent (ALA), Huawei, World Wide Packets and Foundry Networks (FDRY) clearly have well-established brand names and large customer bases. However, they also have legacy technologies and cannot re-launch into new markets with products that must be redesigned/re-architected and which would cannibalize their existing product lines. We will compete in the high density, carrier grade 10 Gigabit switch market with a switch that is both extensible and affordably scalable. This will present a ‘new standard’ in the market and the Company will be a ‘first mover’ in this segment.
The Company’s new technology will transform the Ethernet Switching market segment by developing and selling dramatically more cost-effective, scalable solutions for High Speed Ethernet switching with the industry’s first 288 10 Gigabit port Ethernet switch as our initial product launch at the National Association of Broadcasters (NAB) Show in Las Vegas in April 2009.
Corporate Name Change
As is appropriate with this major change in the Company’s direction, we have decided to change the name of the business to CeCors, Inc., an acronym for Carrier Ethernet Core Switch and pronounced ‘SeaCores.’ This will become effective in the coming weeks as the Company’s legal name, registrations, trading symbol and marketing materials are changed.
Expanding Management Expertise
The CeCors executive team brings 100+ years of combined management experience in IT and communications technology, manufacturing, sales and marketing. The team has worked together and successfully led a number of liquidity events, such as mergers and acquisitions, as well as IPO’s.
As of July 18, 2008, Jim Fiedler, an experienced and respected leader in the telecom industry, with vast experience in running early and mid-stage telecom networking and services companies, has become Chairman, President and CEO of CeCors. His experience and contacts within the industry will provide exceptional leadership into the future.
Excuse me while I laugh here. Seriously, I think Ben Kepes should look into this and analyse it further because he's the SaaS guy.
State insurance being dodgy? Or just clever?
Should State insurance offer 'market value' payouts on a set amount policy?
My parents car was recently involved in an accident where their car received significant damage after a truck hit the car. No one was hurt but we got the details, went to the police and got the stuff rolling.
The car is sitting in my driveway, not safe for road use.
Anyway, the insurance policy was insured for a set value rather than market value. The assessor for state insurance (IAG?) has basically offered approximately $5600 for repairs or replacement. This is below the set amount that was insuranced and the assessor only viewing the exterior of the car and not assessing potential damage to the car. The understanding is that anything above ~$5600 would be out of pocket.
When we contacted the assessor for further comment, he advised that this was because the car was only worth a certain amount, a market value and that we are lucky that we got offered that amount. That would be ok if it wasn't insured for a set value.
Clearly state insurance can't have their cake and eat it too? To me it sounds like a scam.
Whats your thoughts?
The Future of Telecommunications - Some Thoughts
“Different methods of communication and of identifying users on communication networks will become irrelevant. I use many different methods of electronic communication, including a home phone, a mobile phone, e-mail, instant messaging, video conferencing, online forums and social networking sites and so on. Why should I have to distinguish between these forms of communication and they way they identify their users – why should I have to have an e-mail address, several phone numbers, several usernames of different services – why can users not just have a single user name or number which can be used to reach them however you like? Why should I have to use multiple devices such as a home phone, a cell phone, a computer and a laptop to communicate – why not have one device that can utilise all methods of communication but that comes in many different shapes and sizes – something desk-sized like a computer, something portable and then something pocket-sized. We need to take the focus out of the “how” and turn it more to the “who” and “what” of communications.”
From the section on the future of telecommunications from my thesis (of sorts). Thoughs/feedback welcome/requested 
Geekzone Jobs: search and forums
A few months ago I created a Jobs forum on Geekzone to allow for some of our readers to exchange job information, post requests for specific skills, etc.
Of course it's no competition for the big job sites around, but it seems to be working ok for our community. We do have some of the job agencies posting some ads there - and why wouldn't they, it's free!
Anyway, after talking to the guys at JobX, New Zealand's newest site for job search, we decided to add a Job Search to Geekzone.
One of the first joint initiatives was their sponsorship at the Geekzone Pizza evening in Christchurch - by chance we selected a pizza place just next to their offices, so that helped too.
The Jobs forum is still active and I expect it to get busier every day, but I think the Job Search will bring an even bigger selection for you.
Good luck!
Hello 'Little Black Book,' Goodbye IPX - Computerworld
I love my new iPhone 3G, but will it blend?
Check this clip to see if the iPhone will blend.
http://www.youtube.com/watch?v=DLxq90xmYUs
Student benifits!
I'm currently doing a Bachelor of Communications and Information Technology at UCOL, Palmerston North.
A few days ago I received an email stating I am registered with the MSDN Academic Alliance: Online Software System. I visited the link included in the email and was very pleased to find out I have access to free downloads which include; Windows Vista Business, Windows 2008 Server, Visual Studio 2008 and many more! This is great, I can download hundreds of dollars worth of software for free.
I think I'll be reaching my monthly download quota very early this month!
http://www.e-academy.com/
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