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Gizmondo's Spectacular Explosion

Posted by ryuzaki0 on from the booom dept.

Over at Wired, Randall Sullivan writes about the spectacular breakup of Gizmondo. The discussion of the short-lived portable console's reign begins, of course, with the well-known car accident: a perfect metaphor for an imploding company. The article goes on to discuss the sordid past of Bo Stefan Eriksson, and how his role with Gizmondo never stopped his collusion with some of society's more sordid elements. From the article: "It wasn't long before Eriksson imported his wingmen from the Uppsala Mafia. Johan Enander, who had served more than two years for crimes including grand theft and extortion, handled security for Gizmondo functions. Peter Uf, who had spent more than five years in prison for fraud, was named a Gizmondo director. The company opened a glass-fronted corporate headquarters next to Farnborough Airport, and expensive Ferraris and McLarens dotted the parking lot. To add to the glitter, in 2004 Gizmondo purchased a 75 percent interest in a London modeling agency called Isis, ensuring that there would be plenty of beautiful young women at its parties and events."

2 of 57 comments (clear)

  1. Re:Ever get cut off by some yuppie jerk by Sponge+Bath · · Score: 2, Funny

    Why do people automatically say that if someone drives a fast, expensive car that they have a small penis?

    That is a particularly disturbing generalization if the driver is a woman.

  2. Re:Where do I apply? by Parafilmus · · Score: 3, Funny

    Since you ask, this is how it went down:

    Foreign Investors: "Hello, nerds. We are buying your studio. Please to create software for our device. We have lots of money."

    Nerds: "This prototype is sweet! This is going to be fun!"

    (several months later)

    Foreign Investors: "We are out of money. Please to close your studio now."

    Nerds: "How is that even possible? We had lots of money!"

    Foreign Investors: "We invested it."

    Nerds: "In what, pray tell, did you invest our entire budget?"

    Foreign Investors: "Fancy cars and models."

    Nerds: "Drat! Oh well, just give us last month's payroll and we'll be out the door."

    Foreign Investors: "We do not have last month's payroll! But we are keeping the million dollar company car."

    Nerds: "Shouldn't karmic retribution be kicking in about now?"

    TV News: "Video game executive wrecks million-dollar Ferrari"

    Nerds: "Hah hah!"