Startup.com is a documentary of the
extraordinary rise and fall of a company during the mid-late 1990's
while the newly developing internet was flooding the market with new
industry and investors were pouring out money hand over fist without
necessarily fully understanding the internet and these new dot com
businesses. The documentary follows the major business developments
of GovWorks.com through the eyes of its three original founders
(although primarily through Kaleil Isaza Tuzman and Tom Herman's
perspective as the third founder is largely absent from the film and
eventually bought out of the organization). Long story short, the
three founders invested relatively small amounts of personal assets
(maybe $20k each) and with the company kicking off around 8 employees
their growth to over 233 employees and investments skyrocketing over
$70 million they found themselves outclass and outgunned in a market
with competitors producing superior products, and experienced
management and leadership causing significant internal
destabilization leading to an eventual demise of the company.  |
| Tom Herman & Kaleil Isaza Tuzman |
The
two remaining founders declared bankruptcy in 2001 noting assets of
$8 million and liabilities of around $40 million, the CEO's basically getting nothing.
It seemed Tuzman was capable of securing the finances for the
company but Herman was clearly not qualified to run the technical
aspects of the company which may have ultimately led to the demise of
GovWorks.com. In the end, the friendship between high school friends
Tom and Kaleil was clearly scarred, possibly festering a resentment
between the two for the rest of their lives, the business was a
failure and collapsed, and hundreds of people lost their jobs.
On
the bright side, Dora got a dog.
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