Here’s your mid-week fix of tech news:
1. The founders of now-failed music streaming startup Guvera reportedly paid themselves $260,000+ salaries while the business made no revenue. The company’s nine-year history, which saw it attract $185 million from private investors, seems to be one of great salesmanship but poor sales. Read more on where all the money went.
2. Launceston just became Australia’s first gigabit city. Local retailer Launtel is offering a new 1000Mbps plan through the NBN, which is 10 times faster than what most of us can get. And it’s 100 times faster than the national average. But the speed comes at a hefty price, read more on how much it costs here.
3. Meanwhile, there’s remarkably few people who want to upgrade their NBN connections. If you’re unhappy with the amount of slow copper lines that the NBN has left you by default, you can get a quote to have it upgraded to fibre-to-the-premises at your expense. Now iTnews has found only one in ten users that received a quote end up enacting it.
4. Telstra’s superannuation fund has dipped its toes into the innovation sector. TelstraSuper announced on Tuesday that it’s put $35 million in to a UK incubator and VC that works with Australian universities to commercialise their IP into viable startups. Read more here.
5. Never say these five things to an angel investor. Sydney Angels committee member David Jackon has written a guest column for the AFR that lists the things that he never, ever wants to hear from a startup entrepreneur.