What wonderful questions you ask!
Why would someone invest in ActM despite knowing all four of your points to be true?
A) Ken does not have to be an EE. He just has to provide strategic planning, and organize the whole thing and hire the guy with the EE.
B) What is so bad about outsourcing chip design? Many companies outsource product design, to specialty houses. It does not matter who does the actual chip design. What matters is that it gets done and that the chip designers do it for us and do not share their work with any other company. IN fact, outsourcing this work is a good business decision better than doing the work in house or hiring engineers in house to do it.
C) Well, yes, Ken needed some editing help, and D) is related, big deal, so he is not the best writer. At least Ken is smart enough to realize that he had to get a PR guy in place who could write.
Here is the way I look at it: Ken just has to have the skills to make deals, organize other people to do the work and be the product manager. He just has to have the vision and the energy and will to get everyone he hires to get the job done. He does not have to do it himself. The mere fact that Ken is willing to organize a board/advisory committee proves that.
Whatever skills Ken has or doesn't have, the proof is whether or not he will have finished mining rigs up and running and ready to sell by some established future date.
At this time, I believe that Ken is able to do that and that is the reason I have invested in AMC and then Active Mining.
Also, of all the mining companies, he is the only CEO who has been accessible and has spoken with me at length. That alone leads me to have confidence in him and ActM.
How is Active Miner not bASIC
[1] 2.0? Here are some red flags that both have in common:
- Ken isn't an EE/other related field
- Chip design/hardware design is being entirely outsourced
- Ken's "the businessman" but is a very poor one - see the original prospectus, financial statements
- Despite being a native speaker Ken has poor English skills.
That last point isn't meant as a jab, it's an important part of business. Communication is important and I hope I don't have to sell you on that. So is hubris - if you know you aren't good at communicating why aren't you mitigating your weakness in some way? College-level English is an important way to demonstrate that you perform at a college level in other areas.
I'm posting this here because I'd like to hear from the AM investors their explanation as to how AM will be more successful than bASIC and how the two differ.
[1] I mean the company started by cablepair (IIRC) around this time last year and collapsed in January or February of this year, not the company that mines with Avalons or whatever
