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Hard to see how this passed anybody's internal alarm that warns them of impropriety and conflict of interest. As a developer living in Hawaii that dreams of bui

Hard to see how this passed anybody's internal alarm that warns them of impropriety and conflict of interest. As a developer living in Hawaii that dreams of building my own company one day (and dreams of building that company in Hawaii), this doesn't look good for our ecosystem. Cached version here: http://www.alohastartups.com/2014/07/12/wtf-mblooms-first-investment-is-themselves/ http://www.alohastartups.com/2014/07/12/wtf-mblooms-first-in... Other writeups on this issue: http://www.hawaiiweblog.com/2014/07/10/mbloom-funds-mbloom http://www.hawaiiweblog.com/2014/07/10/mbloom-funds-mbloom http://www.civilbeat.com/2014/07/civil-bytes-is-there-a-conflict-of-interest-in-hawaiis-startup-world/ http://www.civilbeat.com/2014/07/civil-bytes-is-there-a-conf...

jpgvm 12y ago
Yeah, no way to destroy good-will like corruption. :(
manachar 12y ago
Ugh. I live on Maui and wish there was a better tech eco system on the island for many reasons. I often get the feeling that this sort of self-serving entrepreneurship seems somewhat standard on the island. Some of it is just the "small town" and insular nature of the business scene here, but sometimes I wonder if there's something more malicious to it.
- ChuckMcM 12y ago
  What would a better Tech eco system look like? Prototype manufacturing plants need a source of material having to fly things in automatically makes them more expensive. Software companies need engineers but engineers typically go to where the jobs are. So until there are jobs, there are few engineers. Infrastructure companies need startup companies that are being created to keep the gear around so that they can help build infrastructure. Entrepreneurs need a source of capital that understands both the opportunity and the risks. They need banks that also understand the opportunity and the risks. What is the current connectivity solution for Maui? Is there 10gbit connectivity back to the mainland? At what cost per Mb? Any local data centers? What are the minimum taxes on a business in Hawaii? What are the minimum compliance regulations? Is there an advocacy group, something like the Chamber of Commerce which has a whitepaper (should have answers to some of these questions in it)
  - sterlingross 12y ago
    This is about as technologically advanced as we get here on Maui: http://www.htdc.org/incubation-techcenter-mrtc.html http://www.htdc.org/incubation-techcenter-mrtc.html
  - manachar 12y ago
    Great questions that hit on many of the key challenges here. Maui and Hawaii certainly have some intrinsic difficulties inherent to having a lower population base located 3000 miles from just about anything, but all in all I'd say there's more movement towards helping create a better tech eco system here. Part of what makes this sort of dubious investment so unfortunate is this clearly was part of that drive to provide some startup fuel to companies here.
  - samstave 12y ago
    I just spent the last week-and-a-half on Maui for vacation. I was thinking about how I could get to work from there for ~3 months out of the year... I came to the conclusion, in my own little thoughts about it, that Maui s best suited for remote dev/sysad/ops work if anything. While I wa just thinking for myself - it could be expanded to a contract support/ops/development company that lures talent there via the fact that it is maui.... I don't know anything about the housing costs - but food was pretty expensive.
- alphonse23 12y ago
  Local Mauian, born and raised, moved to the mainland, and now working as developer in Los Angeles -- I know that place first hand -- nobody there is looking for change -- you can't fight the culture there (probably more there than other small towns), no manner how hard you want it to change.
  - sterlingross 12y ago
    Born and raised here also. Have you been back recently? They amount of new development land and business is a bit unsettling. I am surviving well as a developer, living off the grid, with a satellite internet connection.
    - shuzchen 12y ago
      We're making some progress. Oahu has a very prominent and active makerspace (hicapacity.org) and co-working space (www.theboxjelly.com) around which a whole host of tech events, talks, and meetups are orbiting. Maui has a pretty active makerspace as well (www.mauimakers.com). This is a very good time to be a developer in Hawaii, at least in terms of connecting to talented peers. What we're still lacking is good jobs, and access to VC funding for companies we want to build. mbloom is not the fund that we need to grow our tech industry, if anything it's looking like it'll poison the waters.
    - alphonse23 12y ago
      Haven't been back in a couple of years. I think I'll be visiting in a few months though. What's your secret to finding work and paying rent, isn't it expensive there?
  - manachar 12y ago
    When were you last here? Maybe it's because I tend towards optimism, but I see a lot of hunger for change. Maui is changing fast. There's quite a bit of construction going on, and wonderfully it isn't all dedicated to resorts and condos. Tourism will probably always be part of the local equation but some businesses are starting to use those tourist dollars to build more sustainable businesses (e.g. Maui Brewing Company, Ocean Vodka, Maui Built, etc.). What I hope to have happen is to have that growth channeled into making Maui more friendly to developers such as yourself. Things such as more banking geared to handle businesses, more/better funding of schools, some "affordable" housing that isn't surrounded by timeshares, co-working spaces, more knowledge sharing opportunities (conferences, informal networks, etc), and of course attracting talented people who can leverage all of this to build some great stuff.
samstave 12y ago
They are BOTH registed as oficers of Flikdate: Officers NAME sort OFFICE sorted help DATE sort BICANIC,NIKOLA P/D Mar 6, 2014 KRYEZIU,ARBEN S/D Mar 6, 2014 Also, both Ozolio and Flikdate have their registered offices in the same building. So these crooks were able to fund their crappy startups with 700K out of the fund, giving them selves 7% overall of the fund. Lets see what they spend that money on.
- hisabness 12y ago
  isn't it possible they received the money from the state with the understanding that a portion of it would be invested in startups of which they were owners?
  - samstave 12y ago
    Sure, but so is it possible that they are shady opportunists. Also, am I correct in reading that they gave their companies 350k each, but the fund states it only gives out up to 250k investments?

jpgvm 12y ago

Yeah, no way to destroy good-will like corruption. :(

manachar 12y ago

Ugh. I live on Maui and wish there was a better tech eco system on the island for many reasons. I often get the feeling that this sort of self-serving entrepreneurship seems somewhat standard on the island. Some of it is just the "small town" and insular nature of the business scene here, but sometimes I wonder if there's something more malicious to it.

ChuckMcM 12y ago
What would a better Tech eco system look like? Prototype manufacturing plants need a source of material having to fly things in automatically makes them more expensive. Software companies need engineers but engineers typically go to where the jobs are. So until there are jobs, there are few engineers. Infrastructure companies need startup companies that are being created to keep the gear around so that they can help build infrastructure. Entrepreneurs need a source of capital that understands both the opportunity and the risks. They need banks that also understand the opportunity and the risks. What is the current connectivity solution for Maui? Is there 10gbit connectivity back to the mainland? At what cost per Mb? Any local data centers? What are the minimum taxes on a business in Hawaii? What are the minimum compliance regulations? Is there an advocacy group, something like the Chamber of Commerce which has a whitepaper (should have answers to some of these questions in it)
- sterlingross 12y ago
  This is about as technologically advanced as we get here on Maui: http://www.htdc.org/incubation-techcenter-mrtc.html http://www.htdc.org/incubation-techcenter-mrtc.html
- manachar 12y ago
  Great questions that hit on many of the key challenges here. Maui and Hawaii certainly have some intrinsic difficulties inherent to having a lower population base located 3000 miles from just about anything, but all in all I'd say there's more movement towards helping create a better tech eco system here. Part of what makes this sort of dubious investment so unfortunate is this clearly was part of that drive to provide some startup fuel to companies here.
- samstave 12y ago
  I just spent the last week-and-a-half on Maui for vacation. I was thinking about how I could get to work from there for ~3 months out of the year... I came to the conclusion, in my own little thoughts about it, that Maui s best suited for remote dev/sysad/ops work if anything. While I wa just thinking for myself - it could be expanded to a contract support/ops/development company that lures talent there via the fact that it is maui.... I don't know anything about the housing costs - but food was pretty expensive.
alphonse23 12y ago
Local Mauian, born and raised, moved to the mainland, and now working as developer in Los Angeles -- I know that place first hand -- nobody there is looking for change -- you can't fight the culture there (probably more there than other small towns), no manner how hard you want it to change.
- sterlingross 12y ago
  Born and raised here also. Have you been back recently? They amount of new development land and business is a bit unsettling. I am surviving well as a developer, living off the grid, with a satellite internet connection.
  - shuzchen 12y ago
    We're making some progress. Oahu has a very prominent and active makerspace (hicapacity.org) and co-working space (www.theboxjelly.com) around which a whole host of tech events, talks, and meetups are orbiting. Maui has a pretty active makerspace as well (www.mauimakers.com). This is a very good time to be a developer in Hawaii, at least in terms of connecting to talented peers. What we're still lacking is good jobs, and access to VC funding for companies we want to build. mbloom is not the fund that we need to grow our tech industry, if anything it's looking like it'll poison the waters.
  - alphonse23 12y ago
    Haven't been back in a couple of years. I think I'll be visiting in a few months though. What's your secret to finding work and paying rent, isn't it expensive there?
- manachar 12y ago
  When were you last here? Maybe it's because I tend towards optimism, but I see a lot of hunger for change. Maui is changing fast. There's quite a bit of construction going on, and wonderfully it isn't all dedicated to resorts and condos. Tourism will probably always be part of the local equation but some businesses are starting to use those tourist dollars to build more sustainable businesses (e.g. Maui Brewing Company, Ocean Vodka, Maui Built, etc.). What I hope to have happen is to have that growth channeled into making Maui more friendly to developers such as yourself. Things such as more banking geared to handle businesses, more/better funding of schools, some "affordable" housing that isn't surrounded by timeshares, co-working spaces, more knowledge sharing opportunities (conferences, informal networks, etc), and of course attracting talented people who can leverage all of this to build some great stuff.

samstave 12y ago

They are BOTH registed as oficers of Flikdate: Officers NAME sort OFFICE sorted help DATE sort BICANIC,NIKOLA P/D Mar 6, 2014 KRYEZIU,ARBEN S/D Mar 6, 2014 Also, both Ozolio and Flikdate have their registered offices in the same building. So these crooks were able to fund their crappy startups with 700K out of the fund, giving them selves 7% overall of the fund. Lets see what they spend that money on.

hisabness 12y ago
isn't it possible they received the money from the state with the understanding that a portion of it would be invested in startups of which they were owners?
- samstave 12y ago
  Sure, but so is it possible that they are shady opportunists. Also, am I correct in reading that they gave their companies 350k each, but the fund states it only gives out up to 250k investments?