Webmind Inc.

From: Ben Goertzel (ben@webmind.com)
Date: Fri Apr 13 2001 - 07:12:09 MDT

Just a brief update on the situation with Webmind Inc., which is in flux and
not definite

It seems likely that we will file for bankruptcy next week...

At the same time, we are aggressively proceeding with plans for "Webmind 2",
involving the same codebase and many of the same people

One possible option is that "Webmind 2" will be entirely based in Brazil,
which is where most of our engineers have been for some time. An all- or
mostly- Brazilian operation would have a significantly lower burn rate. If
this goes through, then in a few months I may be e-mailing you guys from
Belo Horizonte. (I happen to be a Brazilian citizen, but I haven't lived
there since I was 1.5 years old).

I posted a message on here a few weeks ago mentioning that we were seeking
investment money. Well, we still are, for Webmind 2, but due to the
scaled-down cost of the proposed new operation, smaller sums of money are
interesting to us. So we'll see what happens. Anyway about 30 of us are
currently working for free, about 10 full-time and 20 part-time.

A side note: the hedge fund involving our Market Predictor software is off
the ground; it's independent of Webmind 2 and is for the moment a closed
effort not accepting investments.

-- Ben

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