Responses to Lawrence Meyers Questions
UPDATE — In December 2021, the Securities and Exchange Commission (SEC) formally charged Lawrence Meyers with fraud and illegal touting in connection with work he performed in 2015 and 2016. Read more here: Our Troll is Charged with Fraud
Lawrence Myers is not an investor in Legion M, but an extremely vocal critic of the company. Since we first encountered him in December of 2018 he’s made hundreds of posts attacking Legion M across our socials, funding platform, email, and press articles. He’s gone to such great lengths (and used such questionable tactics) that we began to question his motives.
In 2019 we did some research and found a number of troubling facts about Mr. Meyers, including a background utilizing “guerilla PR tactics” (a direct quote from his former website) to take advantage of the "looser journalistic standards" of new media to launch "attacks designed to introduce multiple layers of risk to your opponent and consume their time" (also direct quotes). If you’d like to read more about that (and see the research that backs it up), please check out this blog post. If you’d like to see those tactics on display, just check out our Wefunder feed.
As a rule we try to respond to just about every question we get asked. In Mr. Meyer’s case, he posts and reposts so frequently, in so many places, and using so many different screen-names, that in June of 2021 we created this blog post so we could start consolidating our responses in one place.
RESPONSES TO COMMENTS FROM LAWRENCE MYERS
[Comment] Legion M and WeFunder repeatedly blocked me within the first week of my asking legitimate questions, in order to suppress inquiry. Fake names had to be used because they would repeatedly block questions.
[Legion M Response] This is untrue. Neither Legion M nor Wefunder has ever blocked anyone to “suppress inquiry”. If you look through our Wefunder feed you’ll see nearly 1,000 answered questions — good, bad and ugly. The only accounts that have ever been blocked from this page are a handful of people posting spam links and a bunch of fake accounts (including “Steph Rochmaster”, “Will O’Conner”, “Jodee Robertson”, “Jacky Johnson”, and “Jacky Johnson II”) created by “Larry M”.
So to be clear, “Larry M” didn’t create fake names because he was blocked on Wefunder — he was blocked from Wefunder because he came in on day 1 using multiple fake names. And, the fake accounts he was using were doing more than “asking legitimate questions” — some were harassing other potential investors, or leaving diatribes like this:
Screenshot of a post from one of Lawrence Meyer’s fake accounts. This post goes on for another 14 paragraphs…
[Comment] No “cease and desist” notice was sent. What Jeff tried to do was bully me into silence by threatening litigation – a violation of anti-SLAPP statutes.
[Legion M Response] In 2019, after learning some troubling facts about Larry M and his potential motives for harassing us, we sent him an email asking him to Cease and Desist. We encourage you to read it here, then decide for yourself who’s trying to be a bully.
[Comment] When I raised all these issues to WeFunder, which is required under FINRA and SEC regs to halt offerings, they refused to respond to me and instead sent my report to Jeff and Paul.
[Legion M Response] In 2019, "Larry M" sent a 148-page document to Wefunder (our funding portal) in an effort to get us delisted. It was full of the same baseless accusations and arguments he is posting today. Wefunder reviewed his claims — as they are required to do by law — and dismissed them for lack of merit.
[Comment] Legion’s real business appears to be selling more stock, not running a “studio.”
[Legion M Response] Legion M's business includes a diversified array of models, including development, financing, marketing, merchandising, licensing, and producing film, TV, virtual reality, comic books and more. You can read all about this in our SEC filings or our “How We Make Money” blog post.
Even though we are still fairly early in our development, our revenue is growing rapidly:
2018 revenue: $179,589
2019 revenue: $645,565
2020 revenue: $925,232
As a startup, we also sell stock in our company. Selling stock is not a "business" -- it's the way startups raise the capital required to build a business. Money raised from selling stock is not considered revenue, nor is it included on the P&L.
To date, Legion M has raised about $12 million in capital from investors. While this is a lot of money, it's just a drop in the bucket when starting a business -- particularly in a capital intensive industry like entertainment. To give you an example, in 2019 the median company raised $146 million from investors prior to their IPO. Uber alone raised over $20 billion before theirs. That means even if we raise 10X the amount of money we’ve raised so far, we’ll still be well below the median for a pre-IPO company.
Link to stats on investments in pre-IPO companies
Link to Legion M’s SEC filings
[Comment] They spend ~40% of capital to raise more capital, 25% on salaries for the managers, and barely over 10% on actual content.
[Legion M Response] There are multiple issues with this statement.
First of all, the math “Larry M” uses to calculate his numbers is wrong. For example, if you take the time to pull numbers from our public filings over the last 5 years, you'll see that during that time, approximately 36% of our expenses come from “Sales and Marketing.” “Sales and Marketing” is a broad category that encompasses many activities including (a) marketing the company (e.g. growing the Legion), (b) marketing our projects (e.g. Mandy, Jay and Silent Bob Reboot, etc) and (c) marketing our products (merch, tickets, etc). Breaking down marketing costs is beyond the scope of SEC filings, but given the fact that the sum of all our marketing expenses is less than 40%, it should be clear that the subset of expenses attributable to growing the Legion is substantially less than the amount claimed by “Larry M.”
Aside from that, growing the Legion is about much more than simply “raising capital.” The whole premise of the company is that we can unite 1 million fans as shareholders to generate sustainable competitive advantages in a multi-trillion dollar global industry. We’ve seen first-hand that the larger we get, the more powerful we become. As such, we believe that making wise investments in marketing that allow us to grow the Legion is money very well spent. For more information, check out our SEC filings or our Secret Master Plan.
Finally the analysis "Larry M" uses in calculating the amount of money we invest in content is flawed. He's neglecting the fact that most of the business models Legion M employs rely on labor rather than capital. For example, development (where we attempt to package and sell movies/shows to studios, networks and streamers), merchandising/licensing (where we build consumer product revenue streams for our titles), marketing (where we get paid for our marketing services), "in-kind investments" (where the company earns a stake in a project by providing "sweat equity") and producing (where the company earns producers fees and backend equity in exchange for producing a project) are all labor intensive activities that typically require little to no capital investment. In these cases our financial investment in a project is effectively the salaries of the employees that do the work.
Even in the cases where we use business models that rely on capital (e.g. when we invest by writing a check), we almost always diversify and/or cross-collateralize our deals with labor-centric models like marketing engagements and merchandising.
The fact is, MOST of the money we spend as a company is either directly or indirectly related to our projects.
[Comment] They likely spend multiples more “marketing the Legion” than promoting their own content.
[Legion M Response] I'm not sure where this data is coming from, nor the point of this statement. As discussed above, we spend marketing money to grow the Legion, to promote our projects, and to promote the products we sell. Much of the marketing we do accomplishes multiple objectives at the same time.
Ultimately, the true measure of marketing isn't how much you spend, but what you get in exchange for the money you spend. We're willing to spend significant amounts of money marketing, but only when the economics make sense.
[Comment] Neither Jeff nor Paul are “invested alongside you.” They did not invest their own money according to SEC filings. Management should be aligned with your interests on both RISK and reward. They carry no risk (don’t give me nonsense about careers and reputations). Only you do.
[Legion M Response] Paul and Jeff are risking hundreds of thousands of dollars (an amount that grows every day) by working for salaries that are a fraction of what they would make elsewhere. To give you an idea, as the two highest paid employees at Legion M, Paul and Jeff make $20,000 per year LESS than the average manager of an In-N-Out Burger.
Why do they do this? The same reason as our investors -- the value of the stock. If Legion M fails, they will have left hundreds of thousands of dollars on the table (not to mention 5+ years of their lives), but if Legion M succeeds, they have the chance to make 10X, 100X or 1000X that amount in return. And since their stock has the exact same financial terms as Legion M’s shareholders, everyone’s interests are 100% aligned.
If you'd like to see the hard evidence and links to back up these claims, we’ve provided it in a previous response to “Larry M,” which can be found here.
[Comment] They just grant themselves stock.
[Legion M Response] Paul and I haven’t granted ourselves a single share of stock since the company was founded -- in fact the opposite is true. On day 1, we owned 100% of the stock, and ever since then our % of ownership has diminished each year as we bring on new investors. That’s how startups work.
[Comment] One of their first acts was to use $33,000 in shareholder money to buy the New York Rock Exchange Cadillac from Jeff. IMHO, this demonstrates contempt for shareholders and the use of capital, and the optics are sleazy. That should tell you right away who they are. They’ll make an excuse about it being an “investment.” Then why not just give the car to Legion for $1 and forego the cash to show it was Jeff’s investment?
[Legion M Response] It is correct that Legion M bought Marilyn (as the Legion M branded 1959 Cadillac is affectionately known) as one of our first acts. It’s also worth pointing out that this occurred before Legion M had raised any money from the public. The shareholders “Larry M” says we showed “contempt for” were our seed investors, none of which had any issue with the purchase or the way the transaction was handled.
Prior to Legion M, the Cadillac was owned by Underground Labs, Inc, a company for which Jeff was the CEO and Paul was on the board of directors. That company also had shareholders, which were all private accredited investors. Because Paul and Jeff had fiduciary responsibilities to the shareholders of both companies the sale of the Caddy is considered a “related party transaction,” and as such was publicly disclosed in every SEC filing we made for the first 3 or 4 years of Legion M's existence.
To ensure an arm’s-length transaction, we used the fair market price ($33K) of the vehicle from Hagerty.com, which is a leading source of pricing for classic cars (just like Kelly Blue Book is for modern cars). The deal terms were arranged by Legion M’s finance director at the time (an individual who owned shares in Legion M, but had no interest in Underground Labs). Everything about the deal was transparent and done by the book, and as mentioned above none of our shareholders had any problem with it.
“Marilyn” parked next to the Legion M booth at the L.A. Comic Con, 2016
We bought the car because we knew from experience with the New York Rock Exchange what an effective marketing asset it was. In fact, it’s probably one of the smartest marketing investments we've ever made. Aside from being the perfect tool for marketing Legion M at Comic Cons and Film Festivals (where the car often gets us free or heavily discounted booth space since it’s so much cooler than a typical trade show booth), it’s also the only marketing asset we've ever owned with potential to APPRECIATE over time. Most marketing materials (i.e. banners, booths, window clings, etc) end up as landfill, but if Legion M was forced to sell the Cadillac today the company would probably get its money back -- maybe even more.
[Comment] You [Jeff] were the single shareholder of the company [Underground Labs] that sold the car.
[Legion M Response] Underground Labs was a Delaware C Corp with about 50 shareholders, including founders, investors, advisors and employees.
[Comment] You have publicly admitted, right here on the WeFunder pages, that you have no way to measure actual attendance or revenue from any Legion event or revenue opportunity.
[Legion M Response] This is not only untrue, but also a completely absurd argument. “Larry M” posted the following question on Wefunder:
“Does Legion M Entertainment have specific data on exactly how many Members (fans/investors) attended theatrical releases, and rented or purchased DVDs or streaming copies of its content? If so, please provide that data. If not, please explain why.”
Our response:
The data we have access to differs for each of our projects, but generally speaking we don't have access to and/or don't report the data you are asking for.
While our access to data varies significantly with each project, some of the data Larry is asking for simply doesn’t exist (e.g. when Walmart sells a DVD they don’t ask “are you a Legion M member?”). The data we do have access to (including internal polling, sales data from our store, traffic data from our website and FILM SCOUT app, data from our partners, data from 3rd parties, etc) is generally confidential, and not something we publicly report.
If you’d like to see the data we do report, please check our SEC filings.
[Comment] My and other third-parties estimate that only 2% of fans actually support the content with their money.
[Legion M Response] “Larry M” and the “third-party” he is referring to (a person claiming to be an anonymous journalist but who is almost certainly a fake account managed by “Larry M”) arrived at their estimates by counting the number of people in Facebook photos from events that happened a couple years ago. Based on that, he claims to have “proven” our model won’t work.
[Comment] It’s a business model that has not worked, cannot work, and that you admit you have no way to even measure its success.
[Legion M Response] This statement illustrates the difference between us and "Larry M."
First off -- what we're doing has never been done before, so nobody can "prove" or "disprove" it will work. We’ve laid out our vision in extensive detail and are working night and day to try and fulfill it. When we succeed, we'll have proven it works.
Second -- as entrepreneurs we focus on what COULD BE POSSIBLE and risk everything to make that dream a reality. "Larry M" -- who's not even willing to risk his full name -- instead devotes his time and energy to throwing rocks from the sidelines.
To be clear, there's nothing wrong with being skeptical -- if you don't believe in a company or its vision, you shouldn't invest. But to say that you've analyzed the photos on our Facebook feed and “proven” that a fan-owned company won’t work is absurd. Most people thought human flight was impossible ... until the Wright Brothers did it. People laughed at the idea of an electric car company ... until Tesla became one of the most valuable companies in the world. History is littered with those who spend their time arguing “this cannot be done!” instead of asking “what if?”
Paul and I know this because we’ve been here before. Our previous company (MobiTV) was one of the first in the world to launch TV on mobile phones. At the time (2003), a lot of people told us it wouldn't work. "Nobody is going to watch TV on their phone," they said. A big Hollywood exec told us "this is the dumbest thing I've ever seen."
We proved them wrong. A few years later MobiTV was the worldwide leader in streaming mobile television with over $85 million in annual revenue, and an Emmy award for innovation.
Bottom line -- Paul, myself, and the Legion M team are on the front lines seeing all the signals (good and bad) about Legion M every day. For the last 5 years we've gotten up every morning and elected to risk our money, reputations and careers because we believe this company has potential to change the world. We’ve been endorsed by dozens of savvy entertainment insiders ranging from billion dollar franchise producers like Dean Devlin (Independence Day, Stargate, Leverage, The Librarians) and Micheal Uslan (Batman) to pop culture icons like Kevin Smith and Stan Lee. Most importantly, we’ve got the backing of nearly 30,000 fan-investors who believe enough in what we’re doing to invest their money in Legion M. If you would like to join this movement, we'd be honored to have you. If not, that's fine too. Only time will tell if you missed out on something amazing or saved yourself $100
[Comment] All of their film investments appear to be 100% losses, with one exception, but they won’t tell you which or how much revenue it may have generated.
[Legion M Response] This is an example of "Larry M" ignorantly or willfully making false statements. If you read our most recent annual report, you'll see that we break out EXACTLY how much of our revenue comes from contracts related to our projects. In 2019 and 2020 alone that amount is over $1.2 million.
[Comment] They (intentionally, IMHO) refuse to tell you how much money each project has lost, which projects have been partially written down. There is also, IMHO, some questionable accounting on at least two projects, and refuse to answer questions about them.
[Legion M Response] We don't break down our P&L on a project-by-project basis. Nor do other entertainment companies -- even publicly reporting ones. There are a lot of good reasons for this, chief among them is that entertainment is an intensely competitive industry and it would put Legion M at a serious competitive disadvantage (and, in many cases, in breach of confidentiality clauses) if we revealed the financial and contractual terms of our deals. Anybody with experience negotiating deals would understand that.
As for the accounting questions, "Larry M" is welcome to post them.
[Comment] They take your money, manufacture merch, then sell it back to you. That’s the only real revenue the company makes.
[Legion M Response] I’m not sure if “Larry M” realizes this, but this argument completely invalidates his "proof" from an earlier comment (his estimate that only 2% of fans actually support our content with their money).
Consider this -- Last year we had $925K worth of revenue. If that all came from merch sales to investors, then 100% of our 25,000 investors would have needed to have purchased $37 worth of merch that year.
So which argument is “Larry M” going to make? That only 2% of our investors care enough to support the content with their money (thus "proving" a Legion of fans doesn't work)? Or that 100% of our investors are willing to spend $37 a year (which seems like pretty convincing evidence that a Legion of fans does work)?
The fact is, merchandise is a significant source of revenue for Legion M (72% in 2020), but it’s just one of the many revenue streams we have. And our merchandise sales come from a good mix of investors and non-investors alike.
The fact is, merchandising is an extremely valuable revenue stream for entertainment companies. In fact, we believe that Legion M’s success generating merchandise revenue is a prime example of how we can harness the power of a fan-owned company to create competitive advantages. For example:
Knowing we have an established base of investors who will be interested in our products de-risks merchandise investments (e.g. by giving us confidence we can meet the minimum order quantities required for custom products or better pricing) the same way we believe a built-in audience of 1 million fans can de-risk film investments.
Our proven ability to create new revenue streams for consumer products and licensing not only generates additional revenue for Legion M (which comes off the top when the sale is made to the consumer rather than from the bottom of the waterfall after all the other stakeholders have taken a cut) but also makes us a more attractive partner for production companies, distributors, and talent.
Our ability to monetize our development projects (e.g. Girl With No Name, The Emperor’s Blades, etc.) changes development from a cost center (which is how production companies typically view it) into a potential profit center.
Our ability to create products that nurture fandoms (e.g. Funko Pops, Cheddar Goblin Mac and Cheese, Archenemy Space Whiskey, etc.) help keep our movies in the zeitgeist and drive awareness/buzz for our projects and our company.
Bottom line -- it’s no coincidence that companies like Disney and Warner Brothers have massive consumer products divisions. The fact that Legion M has been able to develop significant merchandising revenue streams around small independent films like Mandy (which typically don’t have any merchandise at all) is something that bodes well for the company and all of its shareholders.
[Comment] They control the company. There is no real Board of Directors or VCs to prove oversight for the use of capital and strategic direction of the company. A BoD and VCs provide real accountability. Claims that “we are responsible to shareholders” means nothing when they control the company.
[Legion M Response] The fact is, between Terri, Paul and myself we have over 60 years of combined experience serving on corporate boards, including (for Paul and me) serving alongside VC’s. The idea that a VC controlled board would be better for investors is crazy, as a VC would almost certainly insist on having stock that gave them preferences (e.g. liquidation preferences, anti-dilution protection, etc.) over small fan-investors. Instead, the shares owned by Terri, Paul and myself have the EXACT SAME financial terms as those owned by every other investor in the company, which means all of our interests are 100% aligned. Win or lose, we are all in the same boat.
[Comment] Hollywood-facing Disney exists whether or not investors buy the stock. It produces goods and services for the public, and generates cash flow as a result.
[Legion M Response] Disney is a mature company that's been around for nearly 100 years. Legion M is pre-IPO -- like Disney was back when it was just starting up.
[Comment] Consumer-facing Legion dies if investors do not buy the stock. It openly admits that it “recruits investors” as opposed to focusing on producing content that will make it cash flow positive. What legit business “recruits investors”?
[Legion M Response] EVERY startup recruits investors. That's because startups rely on investment capital to fund operations until they become profitable. It's as true for Legion M (which has raised about $12 million to date) as it was for Facebook, Tesla, and Uber -- all of which raised hundreds of millions or BILLIONS of dollars from investors before their IPO. The difference is that Legion M is raising money $100 at a time from regular people instead of $100 million at a time from Venture Capitalists. It may take us longer to do it this way, but we're convinced it will be worth it in the end.
[Comment] If you enjoy donating to a club, that’s your option. Just don't ever expect to see a dime in return.
[Legion M Response] “Larry M” has a right to his own opinion, and has made his predictions clear. That said, when finding information online it’s important to consider the source.
Thanks to the help of a Legion M volunteer, we’ve been able to find a vast trove of previous predictions “Larry M” has made about companies with the sort of transformational business models we are attempting to create.
Some examples:
"Netflix is really nothing more than a long con at this point. The business model is not sustainable, and it presents no viable threat to the studios." (Breitbart.com, 2013),
“Tesla stock is not a good long-term investment.” (Investorplace.com, 2014),
"What problem does Facebook solve? None." (TheStreet.com, 2015),
"Uber will indeed Implode" (SeekingAlpha.com, 2015).
To see dozens of other predictions like this from “Larry M,” please check out this post. TBH, given his track record, we're actually quite honored to receive Larry’s endorsement as the latest in a line of great companies he has predicted will fail.
[Comment] I again invite them to respond here, point by point, with FACTS. Hard numbers. Data. Open the books. Answer the questions, directly.
[Legion M Response] Done.
[Comment] You and Paul are not successful.
[Legion M Response] All we can do is state the facts. How you choose to interpret them is up to you.
The facts are that Paul, myself, and one other person co-founded MobiTV in 1999 and led it through a period of growth during which we achieved a number of significant milestones, including raising over $100 million of VC investment, building the company into a worldwide leader in mobile streaming, growing from 3 co-founders to over 300 employees with offices around the world, and winning an Emmy Award for innovation. MobiTV was the first company in the US (and one of the very first in the world) to bring live TV to mobile phones. We also introduced live mobile video streaming for March Madness, the NBA, the Olympics, and UFC, as well as live mobile audio streaming for Major League Baseball. In 2011, the company had $85 million in annual revenue.
If you don't consider that "success," we’re not going to argue with you.
[Comment] Mobi went bankrupt because you couldn’t scale it.
[Legion M Response] I left MobiTV in 2009, and Paul left in 2015. In 2021 -- nearly twenty-two years after we founded the company and ~6/12 years after Paul/I had left -- MobiTV declared bankruptcy, citing COVID as one of the causes. If you want to hold us responsible for events that occurred so long after we left the company (amidst a global pandemic), that's your choice.
[Comment] NYRE failed.
[Legion M Response] For those who aren't familiar, "NYRE" is short for The New York Rock Exchange, which was a product of Underground Labs, a startup I spun out of MobiTV in 2009. The New York Rock Exchange was a fun and unique concept -- essentially a pre-blockchain version of an NFT market where you could buy and sell shares of songs the same way you buy and sell shares of stock. We issued shares for a number of great artists including Testament, Rodney Atkins, Tony! Toni! Toné!, Ballyhoo, The Classic Crime, and Crystal Bowersox, and we had interest from some very big artists including Lady A, KISS, and Universal Music Group (which owns music rights for thousands of artists from Taylor Swift and Kanye West to The Beatles). Unfortunately, the product never achieved escape velocity and we had to shut everything down shortly before we founded Legion M. Timing is everything – I believe if we had launched the New York Rock Exchange in 2020 (instead of 2012), it could have become the “NBA Top Shots” of the music industry and would be minting money now that NFTs are so hot.
In any case, while I'm very proud of the work we did (including generating millions of dollars in revenue during the 6 years Underground Labs was in business), “Larry M” is right that the company ultimately failed. As an entrepreneur, I own that. It’s part of the reason Paul and I work so hard to make sure people understand the risks of investing – even if you’ve got a great idea and great people, the simple fact is that innovation is inherently risky. But if you live your life in fear of failure, you’ll never accomplish anything extraordinary.
One thing worth mentioning: even though The New York Rock Exchange didn’t work out, many of the investors who backed the company are also investors in Legion M. In fact, it was a former Underground Labs’ investor that made the first investment in Legion M, writing a $200K check that provided us with seed funding to start the company. The fact that people who lost money on one venture opted to invest in our next one says a lot about the way Paul and I treat our investors.
[Comment] Terri was VP of Development for a C-level actor whose career went nowhere.
[Legion M Response] You can pick on Paul and me all you want, but Terri (who leads Legion M’s development) is extremely talented, and you are a fool to underestimate her. Eriq La Salle is a lot more than a "C-Level actor" -- he was a 3 time Emmy-nominated star of “ER,” which was the number one series on television for many years. Terri’s job was to run Eriq’s development and help him make the leap from acting to producing/directing. She helped secure him a deal at Paramount/CBS, where Eriq has spent the last 20 years behind the camera as a producer and/or director of shows like Law and Order, The Librarians, Chicago P.D. and CSI: NY.
[Comment] Mandy should dump you guys and move into a big corporation because she’s killing it.
[Legion M Response] At least we can agree on one thing -- Mandy (Legion M’s VP of Licensing and Consumer Products) is a superstar! Mandy actually came from a big corporation (Hot Topic), and the fact that she (along with the rest of the Legion M staff) is risking her time, money, and reputation because she believes so strongly in Legion M is just one of many reasons we think we’re onto something big here.
[Comment] Where is the Stan Lee ticket money and where is it accounted for, specifically?
[Legion M Response] The Stan Lee revenue is in the same place where it's always been, which is in our audited 2017 annual report, which you can find at http://bit.ly/2017-SEC-Annual-Report:
"Our revenues for the twelve months ended December 31, 2017 (“Fiscal 2017”) were $415,372, representing an approximately 1700% increase over the revenues from March 4, 2016 (inception) to December 31, 2016 (“Fiscal 2016”) of $23,096. Our revenue in Fiscal 2017 came from projects (the “Celebrating Stan Lee” event and Colossal), and Legion M merchandise and event sales."
It's worth noting that all the Stan Lee packages we sold to consumers for this event (including those with tickets) were classified as "merchandise" in the breakout we presented in the 2018 annual report. But to be clear, all of the ticket revenue collected for the Stan Lee event was reported in our 2017 financials, which were fully audited and publicly available on the SEC’s website and https://legionm.com/investorrelations.
[EPILOGUE] As mentioned at the outset, this is not our first experience with “Larry M”. While everyone has a right to their own opinion, he’s harassed us so much (and used such questionable tactics) that we began to question his motives. Thanks to the work of a Legion M volunteer researcher, we were able to uncover a number of troubling facts about “Larry M” -- including a previous gig running a company that specialized in stealth media attack campaigns -- that may explain his motives for harassing us. If you are interested, you can read more about that here: http://bit.ly/who-is-larry-m.
In addition, our volunteer researcher found a vast trove of quotes from “Larry M” about other companies with the sort of transformational business models Legion M is attempting to create, including:
“Netflix is really nothing more than a long con at this point. The business model is not sustainable, and it presents no viable threat to the studios." (Breitbart.com, 2013)
“Tesla stock is not a good long-term investment.” (Investorplace.com, 2014)
"What problem does Facebook solve? None." (TheStreet.com, 2015)
"Uber will indeed Implode" (SeekingAlpha.com, 2015).
We’ve compiled dozens of other “Larry M” quotes like this (as well as links to the source articles) at: http://bit.ly/larry-m-quotes. TBH, Given his track record, we're actually quite honored to join the list of companies “Larry M” has predicted will fail.
Have you got questions or information you think is relevant to this discussion? Send mail to team@legionm.com.