- MICHAEL BLUM: FOUNDER, PRESIDENT AND CHIEF OPERATING OFFICER OF UNDERGROUND SEX
The first lesson that every person should learn when joining the business world is who to get into bed with. Society doesn’t care whether you’re a good person, as long as your business partner is involved in a scandal, you’re treated like them.
Michael Blum just cost Xcor its reputation after joining forces with another technology company that’s mostly funded by porn hubs. The society is questioning his integrity, and doubting whether he walked into this unknowingly, or his secret just got out.
Xcor’s operation has slowed down, with a lot of resources being spent on clearing the company’s name. Some investors have opted out as they don’t want to be associated with the scandal.
Fund withdrawals have significantly affected the financial sustainability of the organization. According to Michael Blum, Xcor can hardly pay its bills. The few investors who are still funding the firm, have reduced their contributions because they’re hardly making any money.
Michael Blum has been interviewing potential investors, but none has committed yet. In his last interview, he said that investors are just waiting for an opportune time to get the best possible deal.
One wrong move or association can ruin a company’s reputation and significantly affect its finances. The only way Xcor might recover from this blow is by letting Blum pay for his mistakes letting him go. The board of directors needs to make the decision fast as the clock is ticking.
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