

CNET Founder Minor Files for Bankruptcy After Selling Art - witek
http://www.bloomberg.com/news/2013-05-30/cnet-founder-minor-files-for-bankruptcy-after-selling-art.html

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witek
From the courageous beginnings, in vogue with what is usually advocated by the
startup culture:

"Minor had at least one brush with bankruptcy early on. It was the early
1990s, and he was trying to get CNET off the ground, Businessweek reported
then. He had maxed out his credit cards, expenses were piling up “and he was
$40,000 in the hole,” according to the magazine."

To:

"How do you sell the technology company you founded for $1.8 billion and five
years later file for personal bankruptcy?"

How he portrays it:

“A case might have been made that I should never have strayed from
technology,” Minor said in the e-mail, according to the Daily Progress.
“However, I like doing things outside my comfort zone, and I believe that
willingness in part accounts for my tech successes.”

How others may have seen it:

"Minor had a falling out with fellow backers of 12 Entrepreneuring Inc., a
business incubator he started in 2000 with Internet veteran Eric Greenberg,
amid allegations of lavish spending as startup investing began falling out of
favor. (...) Conway led a revolt to recoup the investor group’s money, raising
questions over $45 million in office-lease commitments and $13 million on
furnishings and technology equipment"

