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Other than the Reid relationship it's a pass...


On Wed, Feb 12, 2014 at 10:18 AM, Neil Callahan (Rosemont Seneca) <
ncallahan@rosemontseneca.com> wrote:

> Hey guys,
>
> I met with Mark James yesterday. He's the founder/CEO/funder of an Uber
> like app, but has a more of a "comes from industry" and
> compliance/regulatory angle. Basically helping all the taxi and limo
> commissions "enforce" their regulations (they won and RFP form the City of
> San Francisco, and will be part of the "Green cabs" in NYC - 4 outer boro
> taxis) - seems weak to me, the taxi and limo commissions seem to be
> political machine types and is type of inefficiency the internet/technology
> is trying to blow up - taking that rent out of the system benefiting
> consumers and entrepreneurs (i.e., drivers). His company is called
> Integrity Vehicle Solutions and he is launching an Uber like app call
> "RideGenie" in March - already 5 months late from his plan.
>
> He mentioned he is very good friends with Sen Reid. Mark James served in
> the Nevada State Senate, friends with the Governor whom he serviced with.
> He made $100m+ by taking over a family business in Las Vegas which is the
> largest cab/for hire car company in Las Vegas. He's already put $8m of his
> own money in the company, and it seems he's scrambling to find outside
> money
> because he will have to keep funding it out of his pocket for the
> foreseeable future to keep it going.
>
> His idea is flawed in that he's on the wrong side of history - the internet
> wipes out incumbent businesses, all the fat cat car fleet owners will get
> crushed or have to pivot to stay alive. And with Google getting behind
> Uber, that's a tough bus to stand in front of. So I think his industry
> based approach is not a great investment. But he is open to evolving his
> model and idea. And he has spent way too much money - way too many
> employees and he's getting ripped off by way too many technology
> contractors
> - he's put $4m into the business in the last 3 months!! So I am not sure
> his management approach makes sense.
>
> Just wanted to run his name and relationship by you - if this is something
> that could be important, we could help him. Maybe the regulators will shut
> Uber down, but not sure that a fight worth fighting, who really cares about
> the taxi and limo commissions beside the fleet owners. Need your POV here
> on how to proceed.
>
> LMK.
>
> Best,
>
> Neil
>
>
> Neil Callahan
> Rosemont Seneca Partners
> 401 Greenwich Street, Suite 300
> New York, New York 10013
> 917-945-9516 (m)
> 866-749-8879 (f)
> www.rosemontsenecatech.com
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> -----Original Message-----
> From: Sebastian Momtazi [mailto:smomtazi@rosemontseneca.com]
> Sent: Tuesday, February 11, 2014 10:00 AM
> To: Neil Callahan
> Subject: FW: Devon Meet CEO Mark in NY Tue: RideIntegrity: Disrupts the
> Disruptors in the For-Hire Vehicle Shared Economy
>
>
> >the office in the am.
> >________________________________________
> >From: Dan McClory [mcclory.dj@gmail.com]
> >Sent: Wednesday, February 05, 2014 10:08 PM
> >To: Devon Archer
> >Subject: Meet CEO Mark in NY Sun-Tue?: RideIntegrity: Disrupts the
> >Disruptors in the For-Hire Vehicle Shared Economy
> >
> >Hi Devon-I know you and your SF team from RSTP heard the management
> >pitch on IVSC and passed, but I'd like to get you and Founder/CEO Mark
> >James together
> >when he is in NY this weekend-Tues to meet with Mayor DeBlasio. IVSC is
> >going to launch in NYC with the Green Taxis in the underserved boroughs.
> >Mark is one of my friends and you may recall that he has put $8 million
> >of his own money into building the infrastructure software to allow
> >taxi fleets, app companies like Uber, and ridesharing firms including
> >SideCar, to come together under a common regulatory framework, with
> >massive big data implications. He has run a $300 million taxi and
> >transportation company and seen firsthand the opportunities and
> >challenges of the shared economy.
> >Here
> >again are the highlights:
> >
> > * Integrity Vehicle Solutions (IVSC) in Las Vegas is the Company
> > * IVSC has already licensed its infrastructure software RideIntegrityT
> >to
> >the San Francisco Municipal Transportation Agency
> > * Ride-hailing apps (Uber, SideCar, Lyft, etc.) and taxi fleets will
> >soon
> >be operating within the IVSC environment in SF
> > * RideIntegrityT to be introduced in the State of Nevada next
> > * IVSC's consumer e-hailing app RideGenieT to launch in New York City's
> >underserved boroughs with Green Taxis, as well as in DC and Miami
> >Devon, IVSC is carving out valuable land rights in key transportation
> >corridors across the US, and I thought you would be interested to take
> >part in the pre-build through the Company's first external capital
> >raise.
> >We're
> >ready to meet with select investors who share the IVSC vision of
> >infrastructure software converging with the shared economy, to
> >facilitate, regulate, and optimize the for-hire vehicle industry and its
> riders'
> >experiences through RideIntegrityT and RideGenieT.
> >
> >The RideIntegrityT cloud-based data collection and analytics system
> >provides an innovative solution to challenges facing passengers,
> >drivers, fleets and regulators, including: price gouging, safe cars and
> >drivers, surges/demand for rides, fair licensing, regulatory
> >compliance, fair rates/fair profit, dispatch control, and technology
> >adoption/integration.
> >
> >Attached is an updated executive summary ppt. Please let me know when
> >you could spend 30 minutes with Mark. We can confirm availability for
> >Sunday, Monday or Tuesday.
> >
> >Thanks,
> >
> >Dan McClory
> >949 233 7869<tel:949%20233%207869>
> >
>
>
>