March 10, 2006
Amp'd, Virgin
It's fun to hear the latest gossip in the MVNO world. Apparently Virgin is suing Nokia (for their own failings...a strategy that led to huge transshipments last year, and losses). And Amp'd is a hothouse.
Supposedly an email that was sent by the CFO to absolutely everyone associated with Amp'd (including Verizon...VCs...etc)
Subject: Amp'd Mobile Confessions
Hi all,
After much thought and soul searching, I've decided to share
with you some sensitive information about our company and
myself. The reason I am doing this, is because I am
concerned many of our business practices to date have been
highly unethical and in some cases even illegal.
We have misrepresented information to the press, investors
and all of you. And as a result I fear the senior management
of Amp'd Mobile has put the company (all of you) at risk.
First let me begin by confessing that Lyn Tran and I had an
ongoing relationship together while she was employed at the
company. I am guilty of taking advantage of my position and
forcing it upon her to be in an intimate and sexual
relationship with me. I have lied to her, used her,
manipulated her, and threatened her. And I am now done. I
have decided to move on and be with a new girl I met during
my trip to the CES show in Las Vegas, Ana Martires. So I
decided to manipulate and lie to Lyn, which ultimately
resulted in her leaving Amp'd. She is planning a large
lawsuit against Amp'd and myself. Unfortunately, my plan to
be with her did not work out, and that is one of the reasons
I am writing this letter of confession.
Secondly, we have not been equally fair to all of the
investors that we have been working with. We've been
inconsistent with regard to ROI across each investor. There
are so many details, I don't know where to begin. Let's move
on to the important topics though. I can't help but think
that Peter Adderton is getting way too much equity in the
company for his over rated management skills and lack of
strategy and guidance. Clearly his motivation is to cash out
when we sell the company or get bought (as am I). I will be
walking away with a measly $3.8 mill.
That does not nearly satisfy me. Further, Bill Stone's
$400k salary is absurd! As is Adrian Hunter's $160k salary.
Adrian does not deserve that level salary, especially after
having left the company. He went back to Australia to chase
his wife after she discovered he was having an affair with
his best friend's wife! Loser. Larry Mattera is definitely
overpaid for what he contributes to the company. Geoff
Fishman, you really don't deserve to be here! I mean you
can't even close the Best Buy deal by yourself and you call
yourself a Senior Vice President?! Doug Molyneux, why should
I walk across the entire building to see our in house
counsel, when I have a lawyer just a finger and a button
away on my speed dial? I don't think you need to be here.
You are just a waste of space.
Everyone should learn from my mistakes. Including you Julie
Dodd Thomas, what in the world were you thinking when you
asked Chris Houston back to your room in Las Vegas?! You're
married with kids for Christ's sake!
This company is full of lying, deceiving, manipulating, and
womanizing men. I am ashamed that I can relate to all of
that. Not to mention the financial antics... kind of reminds
me of the Enron disaster.
I would like to say it's been a pleasure working with each
and every one of you. And I wish you all the best in the
future, and with any luck we'll get through this.
Derek Andersen
CFO
