Royal Commission Anyone?

As reported previously, I made an ill-advised attempt to dial into the Olympics broadcast only to be defeated by the feathers disguising the absent meat.

The primary culprit was the endless advertising of banal products targeted at a denominator so low, no body knows.

One such alliterated effort was by the NAB, insinuating their ‘backing’ of a start-up that was developing a bicycle light.

Coincidentally I have such a project underway; 4 engineering students from the UTS are currently beavering away at a spec which can be found buried in this blog.

I can assure you that, if successful, the NAB and it’s compatriots would not give any subsequent company a single cent of risk capital unless personal guarantees were given that would completely cover all subsequent losses.

Fools on both sides the equations, right there. The startup for risking fully owned assets on a speculative business. And the bank for exposing themselves to accusations of rape and pillage.

Investments in risk requires deep knowledge, apprenticeship and experience, something that our banks probably never had.

Promoting their capability in the space to an audience that hardly cares, and that hates them with a passion, for no possible gain just beggars belief.

I can only sigh.

As per below, it can be seen that the NAB simply provided banking services to the company. Of course, if they’d gone with the CBA, Westpac or ANZ for their banking services, they’d have have been totally fooked.

As an aside, I happen to know the bike light company’s CEO. They weren’t exactly a start-up. They were a well established industrial design contracting firm that after 25 years of ripping off the dreamers finally worked up the courage to do their own product, Knog.

Their products have some good points but brightness is not one of them, nor security. It’s an odd niche that buys their products, probably the same one that watches all those NAB ads and buys expensive pushies, only to leave them to rot in the garage.