Yes, probably true. SV outsources some of their development in a russian company called Arcadia.
Last time I´ve checked the postal address in Florida was a “virtual office” building (you pay them for receiving your post mail, and redirect the phone calls to another number).
3 employees (only one of whom is a programmer - an arrogant opinionated one, no less) and no office.
Clarion .Net was completely outsourced to a Russian company and is now dead due to lack of funds to complete it - yet Bob Z keeps stringing people along because he won’t admit he took peoples money in good faith, and screwed them over on an incomplete and totally useless product.
Bob Z is totally clueless as to how to promote Clarion and totally lacking in direction. If it wasn’t for the die-hard Clarionites who are too invested in Clarion to learn something new, it would have died two decades ago. Even third-party developers can afford to hire more employees and rent office space - Bob Z has totally lost the plot and squandered something wonderful.
Some interesting bits from an article on wired.com regarding an SEC case:
More than two years after a Wall Street Journal exposed potential fraud at blood-testing startup Theranos, many of us have forgotten about the company. The Securities and Exchange Commission has not.
“The Theranos story is an important lesson for Silicon Valley,” said Jina Choi, director of the SEC’s San Francisco Regional Office, in a statement. “Innovators who seek to revolutionize and disrupt an industry must tell investors the truth about what their technology can do today, not just what they hope it might do someday.”