Take a Minnesota-raised dreamer that started up a string of failed chiropractic clinics, have him run away to San Francisco and give him hundreds of millions to burn through for a tech startup, and sprinkle in some cocaine and it’s not just an Oscar contender. It’s John Rogers’ life story.
John Rogers is most well known as the founder and CEO of a company called Pay By Touch, where the vision was to setup devices in supermarkets across the country that would take payment with the validation of just your thumb print. Beginning in 2003, after moving to San Francisco, Rogers was able to convince a variety of wealthy and influential to believe in his dream, from the likes of Gordon Getty to supermarket tycoon Ron Burkle, and even gotten San Francisco mayor Gavin Newsom’s dad to advise the company. All told, Roger’s Pay By Touch was able to get $340 millions — an impressive feat given that it was prior to the Web 2.0 bubble in 2006. But as quickly as he was able to get he spent it all and gotten the startup bankrupt with 750 people losing their jobs.
In trying to decipher who’s really at fault it just seems like everyone was complicit. From the investment bankers at UBS that solicited NFL players to the Gettys to Ron Burkle to creditors. Everyone was charmed and wanted involved in what seemed like a billion dollar idea without doing their due dilligence in finding out Rogers’ past brushups with the law over narcotics charges, his charges by former girlfriends over assault and destruction of property.
Since the collapse of Pay By Touch, Rogers filed for bankruptcy in late 2007. Amongst his court documents he claims to have needed $2,000.00 a month on electricity and heating fuel, $1,000 for water and sewer, and $1,000 for his telephone line, and yes, $1,000 for clothing — all the while owing American Express $68,272.67.
Well now John Rogers has made his way south of Silicon Valley to start a new startup. Valleywag is saying they heard Rogers is driving a Mercedes Benz G-class SUV and roosting in the fancy blü apartment complex in Beverly Hills. How fancy? Check out their exclusive cheese and wine tasting.
All this champagne and mugging for the cameras is just par for the course in glitzy Los Angeles. John Rogers has always been an elaborate bullshitter. LA has always been the place where it doesn’t quite matter who you were — even if it was Barbara Streisand’s hairdresser. But take heed, if some guy comes up to you while partying at the Edison saying he’s entrepreneur that know Gordon Getty: run.
(Banner and inset photo by NYCAuthor)
