Alas, poor Erlich!  We knew him; ‘a fellow of infinite jest, of most excellent fancy; he hath borne us on his back a thousand times; and now,’ as Jared poetically recounts, “Erlich’s Bachmanity boondoggle has led to his being unceremoniously bucked off the Pied Piper unicorn, [lock-] stock-and-Board-seat-wise.”  Unfortunately, Erlich’s lavish over-spending of Bachmanity’s capital, combined with his personal liability for Bachmanity’s debts, have brought Erlich to the brink of bankruptcy.  He’s so desperate for funding he’s willing to sell his Pied Piper shares to dig himself out of his hole.  But yet again, the “onerous terms” that Richard accepted when he took Russ Hanneman’s investment rear their ugly head.  Previously these terms enabled Raviga to take control of Pied Piper’s board and fire Richard.  Now Laurie uses the terms to block Erlich from selling half his shares to Russ for $5 million, and forces Erlich to sell all his shares to Raviga Capital for the exact amount of Erlich’s debts ($713,000).  This leaves Erlich with nothing except extreme public ridicule.
Continue Reading …And The Unicorn You Rode In On (Silicon Valley – Episode 26)