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"In 2014, San Francisco tech startup Skully raised hype and money to build a Tony Stark-style digitally augmented motorcycle helmet. Almost $2.5 million later, the company’s shutting down. Now a lawsuit from within the company gives us some hints as to why: founders allegedly blew the R&D money on lap dances and fast cars.", lanesplitter.jalopnik.com
"Lawsuit alleges Skully founders used company as piggy bank Two weeks after board members at a high-tech motorcycle helmet company forced out the startup’s co-founders, a former executive assistant filed a lawsuit against the company and the co-founders, who are brothers, alleging they used company funding as a “personal piggy bank.” In the lawsuit, former executive assistant Isabelle Faithauer alleged that her former bosses, Marcus and Mitchell Weller, spent thousands of the San Francisco company’s dollars on a strip club, sports cars, groceries, paintings from Hawaii and rent for their personal apartment in the city’s Marina neighborhood, among other things. The 1,940 Indiegogo backers hoped to place advance orders for motorcycle helmets that the company claimed would use augmented reality and a rear-view camera to give riders a fuller sense of their surroundings. “At Indiegogo, we are constantly developing new ways to help entrepreneurs bring", www.sfgate.com
"The accusations against the brothers who ran the company until last month say they used some of the $13 million they raised before Skully filed for bankruptcy “in such a fraudulent manner it rendered the corporate entity a sham.”", upstart.bizjournals.com
"It was reported last month that AR motorcycle helmet company Skully was close to shutting down. But despite a botched acquisition deal, the departure of its founders, running out of cash, and failing to complete orders, some executives held out…", www.techspot.com