Is it a 'magic box' or a high-tech hoax? Northeast Florida man attracted millions from investors who now say they were scammed.
This is a fascinating story. To really understand it, one would have to have been aware of the mania that took place in the late 1990s.
The guy put a VCR in a computer case and strung a coax cable through the power cord. Then he convinced investors that he discovered a way to pump bits through an ordinary phone line at speeds exceeding fiber cable. As proof, his demo included streaming video. It's sad, when you think about those who lost their investments. It's also rather funny.
Posted by Doug Sauder at May 6, 2002 11:09 PM