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Probably worth repeating, Joyent

> In 2004, TextDrive bootstrapped itself as a hosting company through crowd funding: customers were invited to invest money in exchange for free hosting for the lifetime of the company.[39] TextDrive and, later, Joyent repeated the money-raising procedure a number of times in order to avoid the venture capital market.[40][41][42] and began to flounder, suffering from an absence of leadership and plagued by reliability issues, with users leaving for other hosts.[42]

https://en.wikipedia.org/wiki/Joyent

They took money from people and failed to uphold their end of the bargain.