Weekly update 9.11


#47

Its because we have the power to make or break this company… prime example is to look at oneplus, however we can spread news or issues more effectively than the entire marketing budget the company has. So it pays to keep ur community happy.


#48

A lawsuit doesn’t help if the company has no money.


#49

In most of the agreements I have dealt with in years past, there usually is an out for investors. Of course they don’t want to put money into a venture where people get refunds and then continually bad mouth the company, especially in these days of social media. I’m sure this investor had the same thing, or I would have seriously suggest they do if I was representing them in a potential investment. And with everything said on here and maybe elsewhere on the net, they were probably biding their time to see what happened. And with mostly vitriol posted here, they have probably decided to take their way out and bail. And eve can’t sue for anything. I’m not necessarily blaming people here, but if I was advising this potential investor in no way would I recommend they put a dime into it. So if you guys thought threatening and/or constantly badgering was going to get you your refund, I’d forget it. I hope I will get my V and not have just spent my money so that the manufacturer can have some of his inventory paid for which he will then sell off to someone else making him a tidy profit. But I don’t know what to think anymore. I watched an idea that I believed was really a great one go from great to sad for many different reasons. If the investor pulls out, will they be able to get another? I do not know, but Konstantinos’ verbiage has me concerned. When my wife gets done with me, I doubt I will be able to sit down for 6 months! LOL


#50

Of course an investor would want to understand what is going on in the community, but:
A. No investor would assume its all hunky-dory here, when folks that paid for a
premium device did not receive it past legal shipping timelines or past payback request timelines…
B. For an investor the community does not really matter, he analyzes the finances and possible gain, thats it.

This is going on for months, an investor would want to restart things asap and not stall, each lost day diminishes the success of the company…
With Eve it is not as much about what they say, but about what they dont.
I would not be surprised if what we know as investors were attempts to get a loan from a bank.
We dont know much, but since they declared they did run out of funds just after they had a flash sale and delivered IGG, its red flags after red flags.
The money were spent, eaten away probably by operational costs like travel and by silly decisions about premium packaging and shipping worldwide and by the amount of service requests.
You guys all paid for the product in advance, that money alone should be enough to pay for manufacturing the product and giving a good margin to Eve.

Any attempt of blaming the community for an investor making up his mind is completely laughable.


#51

That sounds like fun.


#52

if the core idea of the company they invested in is community designed hardware they should care about that community. but the actual situation here is not the reality. lots of good people with lot of knowledge in design and hardware are waiting until the development of new devices will begin… they don’t want to deal with the negative people here…


#53

If things work, people come back, its about a crowd not this specific crowd about any crowd…
The community did not design - voting decided the specs from available options. Some of the decisions of the community were clever some less, it is a mixed bag, overall positive.
The final product did not deliver as advertised in several aspects, and of course waiting 1 year is ridiculous.
The main selling point of the V was pricing, only a tiny fragment cares about the pyramid flipper attitude (which honestly, was apparently flushed in the toiled once Eve was short on money and they behaved like a regular crappy company and risked customer money from the flash sale).

And again implying that whoever is not satisfied is negative and is to blame?
Honestly, if the bubble blows and people loose their money, what will you say to them as possibly many made their decisions to wait past the charge-back period based on the misleading claims and the supporting army of positive trolling posts?

I hope people get their money back, and whoever mismanaged will pay the debts himself.


#54

You all have good points (@jsrail @Tomas_Ulicny @dibadibadu).
I still hold to the primary problem being communication and honesty. I think if @eve-tech had continued to communicate and be honest about the situation and what was going on the community would have stayed behind them (I’ll exclude the group I talked about in the last update as we even received replies from some of them that they are not “community”).
Had the community continued to have been kept involved (I don’t know if some developers/creators were) about where everything was at, even financial mistakes (they happen, especially to a new company), I think we would have probably tried to find an investor. If it came down to it and the community felt the company could continue and succeed with the injected funds. The key point here, V - first ever crowd developed computer.

(@Wickedly your point was good to, just off topic ; )


#55

Dear @Konstantinos

I am pretty freaking sure that investor will answer you sooner then on Friday and you will update us on Monday/Tuesday.

It doesn’t take long to contact him.

I am just tired of managers trying to defend this bull***t because if you got the investor and money transfer than it should be on the way.

Like for real, let’s together stop this and either receive devices or money back.

It’s not a shame to officially say that you have nothing and at least return us half of price after a year guys !


#56

What do you mean by:

I hope you are not suggesting to refund half what we paid for…that’s a lot of money lost.


#57

Since reading weekly updates I have still a little rest of good hope left that that trouble will end soon. But with every news, every money transfer problem, every “investor” who can not say what time that will happen it is decreasing…
However this story goes out, I am not sure that I will spend money for future projects at the moment. And when, then only in the savest way to get fast refound…
Very very sad, my hope was that this project brings some new wind into a business basically taken by huge brands like MS or Apple…


#58

Like others said, the only critical downfall Eve had always had issue with is managing the business side. This has always been reflected through several major delays when Eve was being produced in 2016/2017–e.g. the dispute with trusting a certain manufacturer (which was their choice) but in the end got delays.

This whole over-dependence on third party has cost a lot of issue. In theory, cutting the middlemen was: crowd’s money + marketing free production + mass community feedback on device = affordable product.

Crowd’s funding alone/money from flash-sale customers, as others said, should’ve covered it. Idk, what extra-business/route Eve has done to make Eve so dire in need of an investor to cover current production…

Perhaps from R&D/prototypes, cancelled accessories, over-production (because some might fail, etc…)… Which could be normal for mistakes from such a young company with their 1st gen product, and 1st (or 2nd if you count the Eve T1) gen sales.

I found it weird that this had happened… The IGG campgaign and flash-sale was already limited, and done pre-order style (similar to how Massdrop does with it’s exclusive). We might never know the exact issue if the CEO aren’t open about this side of the story.

Currently @Konsta , been repeating this “investor delay for over 3 weeks now”, and is probably so next week (if not for some miracle, which everybody hopes so). Each with less news of basically how nothing happened, so we can’t do anything…

You know perhaps an explanation over why this debacle is happening (not revealing anything about the investors/NDAs), would lighten things up.


#59

This has been explained in the community. Frozen payments caused production issues as they didn’t have enough working capital to cover them.

The processor freezes funds as they see too much risk, and they only release them when the product has shipped. So you have no choice but to seek investment. It’s an impossible scenario to be in and you have no real way out of it, and it only gets worse when customers start to cancel, put in charge backs and disputes.

Obviously, these delays are terrible now for all involved. So no surprises the community has dissolved into negativity and complaints :frowning: if you are currently Eve less then it’s near impossible to have a good word to say about the company.

Who knows what is happening with the investment, but they are notoriously difficult to get over the line with all the due diligence involved. I guess the Eve team just have to keep going and try to get things sorted. I still think they are investable even with all the issues, as none of them are really caused by a shit product, just things a little beyond their control.


#60

“Please know that our team is working hard to issue the refunds as soon as possible and we are almost done with a major investment round that will help accelerate the refunds”
Very curious to hear about this in the next update


#61

I dont know, the Paypal isssue is what? 18, 20 or so months old, should we really believe its ongoing and without a good reason? + they still continued using Paypal, why not switch to someone else?

They had funds in advance which i dont think Intel would pay to a paypal account :stuck_out_tongue:
And if funds are frozen by Paypal for suspicious activity why would Paypal not release them back to the customers per Eves request-as many customers are waiting for this to happen.
And if it really is only about frozen funds, then no risk for an investor, right ? He pays now, and can be paid back when funds get unfrozen.
And if a certain amount of funds can be released after the corresponding units are shipped then its a constant flow = you have 100k frozen and cant deliver, you have a flash sale of new funds getting in - 50k, you deliver old orders for that new 50k and paypal can unfreeze 50k from the old 100k and so on… - thats what they implied it works, so where is the issue…?


#62

will they still be selling stuff to get 50k though
one thing which has always struck me as odd is that I ordered win 10 pro in the flash sale, but due got an email saying they had shipped home (?) version due to licence errors, and that they would refund me £50. Maybe they needed money that bad that they needed that extra £50 per unit right at the start?

I have to say, overall, I am still very pleased with my Eve and wish them all the best. If even 1/2 of what they say is true (and I think it is), they must be under incredible stress


#63

If you get 100k frozen. How do you fund the orders in the first place with not enough working capital?

If you do a new flash sale and get 50k in, you now have 150k frozen. Nothing is released as you haven’t produced the products.


#64

They’ve claimed to have shipped 65% of the orders, right? So does that mean that 65% of the funds were released? I’m guessing it wasn’t enough of a stream of money to continue shipping the devices, but PayPal shouldn’t have all of the money at this point.


#65

The agreement between Eve absolutely PayPal was (according to old updates) that funds get piecewise unfrozen whenever Eve ships Vs.

After people didn’t get their device in time they requested a refund via PayPal which triggered some anti fraud mechanisms at PayPal which in turn (I suppose) meant that PayPal released less funds per batch, making it impossible for Eve to keep producing devices / pay the manufacturer.


#66

Wouldn’t have hurt hearing this from @Konstantinosor the team. Might have stopped some people from requesting those refunds. Now with the negativity is just going to come across as half baked excuses. They royally screwed up any good will their customers had with the lack of any meaningful progress and broken promises.