I think the pivotal point when this started to fail was the enforced data retention laws implemented by the government.
The main reason people use a VPN are:
- To mask their identity and conduct nefarious activities online.
- To prevent the government from spying on them in some dystopian Orwellian future.
- To encrypt and secure their connection while they browse online.
Unfortunately, the Wangle VPN only caters to the last instance, which I believe is a very small subset of the global non-enterprise VPN market.
The VPN as it stands is not a marketable product. Couple that with the fact that the revolutionary speed benefits and data savings were eradicated after they had to rewrite the app. I have my doubts that the groundbreaking compression algorithm ever worked in the real world, outside of a test vacuum.
This was then spun off into Family Insights. While I think this solution is quite intuitive and innovative. The families that need this are probably not willing to put in the time and effort to use the app. They would prefer a blocking app, like that offered by Family Zone.
The bonus structure that was setup for Sean Smith was deeply disturbing and bordering on criminal in my opinion. How can a CEO achieve ALL bonuses when the company is making no money?
I work in IT and have seen the exorbitant amounts consultants get paid. The millions spent on app development could have been done for a fraction of the cost by bringing in internal talent into the corporation. This whole company has been used an as ATM by management and external consultants.
This company has offered nothing but smoke and mirrors:
- What happened to the micro-chip?
- What happened to the enterprise VPN solution?
- What happened to the Windows and Apple desktop VPN solutions?
- What is the actual sign up numbers for each of the products?
How about they start treating the shareholders with some respect. Give us a real outlook on the company going forward. Not something filled with sunshine and rainbows (Lies and omissions).
All the deals made by this mob, have been of zero commercial value. Yet every announcement starts with the phrase – “We are pleased to announce”…
The 50:1 share consolidation is just another kick in the guts for already battered investors.
