Updated May. 1, 2014 at 7:55 a.m.

Premium Lock Why a Triangle tech CEO just said 'No' to CIA investment

Published: 2014-04-30 11:18:00
Updated: 2014-05-01 07:55:04

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Editor's note: If your company was approached by the CIA (through its investment arm called In-Q-Tel) as an investor, would you take the money? Phillip Rhodes, founder and CEO of Fogbeam Labs, didn't even respond to a letter of inquiry. The Chapel Hill firm focuses on parsing data from multiple sources to help clients make better informed business decisions. It's a startup. And startups need funding. But Rhodes refused to even talk to In-Q-Tel. He explains why in this exclusive story provided to WRAL techWire....

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Phil,

You have inspired me to send back my tax refund...oh wait...that is my money...never-mind.
If only people would stop wasting their vote on a (D) or an (R). Then, perhaps, we could some leaders with integrity. Until that day comes we will keep getting the likes of McCrony and company.
Sounds like this VC that represents the CIA didn't do their homework on Fogbeam Labs prior to waving money in the air, another caveat well heeded.
Glad to hear your company is doing it 'right'. I've developed a disregard for larger publicly traded companies, especially after the 'too big to fail' mentality was brought to the forefront. While original Fortune 500 companies like IBM, etc. were founded on good principles and conduct, that has long gone to the wayside in search of quarterly performance and profits. Most major public companies are run by hired CEO's and their 'teams'. These leaders have no real connection to the company and are driven by contract and performance perks. They seem to have little moral compunction to do the 'right' thing and often throw the company and employees under the bus in search of the next quarterly bonus. I wish there was some way to preserve a mega-companies original vision and integrity but hired guns and greedy boards toss them away for a few more dollars.

Keep up the good fight!
It is wonderful that one company will stand up for the citizens of the US (the legal ones!) and not be afraid of Raleigh, Washington or the alphabet of connected agencies, companies, etc. I applaud you to the fullest extent. If we don't take back county, state, and national offices, we are going to be a country of lazy bums that are not going to work for a living as long as those of us who work will give them welfare, unemployment, various food banks, etc. Surely, we all need a helping hand up at times but not a HAND OUT. I am 74, retired at 60 and have never worked as hard as now. I got my PhD and law degree since retiring, and work everyday, mostly pro bono, but at least I feel good about myself and feel like I am making a difference. Thank you again for taking a stand against big government.
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