Tim Burrowes, writing this week over at Aussie marketing/media website mUmBRELLA expressed this thought common to journalists everywhere:
The substance behind the Photon gossip
by Tim Burrowes June 17th, 2010
One of the perks – and frustrations – of being a journalist is that you often get to hear interesting gossip.
Perk because it’s nice to hear these things first. Frustrating because you often can’t stand up for publication what you’ve heard. …
Read on here
Ain’t that the truth, Tim? Well said.
Photon, if the name rings a bell, is the company which bought the now-infamous Geekversity er, enterprise … then shut it down at a big loss amid legal threats and a clamour for refunds. Browsing mUmBRELLA’s archives, it transpires there’s a lawsuit going on, apparently. It’s just one of the current woes beleaguering Photon.
Shaun Stenning, you may recall, was the ‘face’ of Geekversity, telling Australians and Kiwis he could turn ordinary mums and dads with ‘little or no computer experience’ into money-making internet marketing entrepreneurs. These “big claims” as one enthusiastic interviewer put it, turned out to be vapour. Watch the video.
Geekversity affiliates Dean Letfus and Steve Goodey gushingly promoted the short-lived Geekversity, uh, operation in New Zealand in effervescent terms until …
Geekversity/Geekdom crashed to a huge loss and refunded millions(?) [It's not clear] to avoid legal action by disappointed, oversold, aggrieved customers.
It turned out these “students” were not the only group who were disgruntled, apparently. According to the original report in the Sydney Morning Herald:
Former director sues Photon for $4.4m
by Julian Lee | SMH 29 Jan 2010
Just weeks after washing its hands of the controversial Geekversity internet get-rich-quick scheme, Photon Group is being sued for more than $4 million by a former director of one of its internet companies.
Late last year the listed marketing services company narrowly avoided a court action after aggrieved ”students” of the scheme, which charged people up to $21,000 to learn how to make money from internet traffic, demanded their money back.
Now a former director and principal shareholder of iMega, which at its peak generated monthly earnings of $750,000, is suing Photon for allegedly failing to pay $4.4 million in earn-out fees.
That’s interesting, I thought. Then there’s this from the same article which is fascinating: Continue reading →