Steve Perlman Manages To Stay On As OnLive CEO After Buyout, Despite The Fact He Killed The Original Company

| August 24, 2012 | Reply

This makes absolutely no sense. Steve Perlman was the CEO of OnLive when they suddenly shut the doors and fired every employee last week. He took sole responsibility for running the company into $30-$40 million in debt when he met with employees to let them know they no longer had jobs. He told the employees¬† “I’m the one that brought you here. I’m the one that ultimately made decisions. And I’m the one that ultimately takes responsibility. So I am sorry, and it didn’t end up exactly as we’d hoped”. A company called Lauder Partners has stepped up and taken the rights to the company and wants everyone to know there is plenty of financial backing. Lauder Partners also said in a letter that Perlman is staying on as CEO this week.¬† According to Lauder, Perlman has gotten no stock in the company and received no pay to turn the company over to Lauder. But heres what he did get: All of his over $30 in debt paid off and a high paying job. It sounds like he got in over his head and decided the best thing to do was save his own ass while cutting the jobs of everyone at the company. In fairness, half of those employees have been brought back to OnLive under Lauder’s control.

Via: Joystiq

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