I'd hope to take senior members at face value if they're not buttchop but this one seems a little less on the info than it should be. OP should spell it out further for the rest of us.
I'm just baffled at the proposed valuation (of a system that has NO revenue and has NOT proven itself as a strong business model) of almost $50m. Ideas are worth NOTHING and this having not shown itself as a successful business model (meaning it has a high chance of failure) means it's a horrible idea to get involved.
This is the type of thing I could see myself helping to back. But I'll be damned if you think I'm giving it a ludicrous valuation. At MOST, it's worth $10k-20k. Once it brings in revenue, THEN you up the valuation accordingly.
