Xero or Zero Mobile?

Back in February, Andy had pointed me to yet another MVNO, called Xero Mobile. Well, now Mike over at Tech Dirt has dug up some serious dirt on these guys.
Apparently some of the guys running this company worked at Gizmondo, a company that was going to be famous for its gaming device, and instead became infamous for a its CEO Stefan Eriksson totaling a million dollar Ferrari. (Sigh, if only cars could pick their drivers…..)
The Register says that former Gizmondo CEO Carl Freer has helped company raise money – by some estimates nearly $300 million. Gizmondo Europe as you might remember is in liquidation, as the Brits would say. A while ago I had remarked that MVNOs are the new CLECs. I am even more convinced – this and most other MVNOS are going to end-up costing people a lot of money.
Photo: LA Times