NeTw0rK News


Crazed ex-dot com CEO gives away his money

Promises Silicon Valley residents 50 cents an hour for doing nothing

Picture of Andy Richards PALO ALTO, CA (NeTw0rK) -- Andy Richards, former CEO of, announced on Monday that he will give every resident of Silicon Valley fifty cents per hour. His plan did not list any requirements for getting paid, other than living between roughly San Francisco and San Jose, California.

The mentally unstable Richards was once a CEO of a dot-com company that specialized in paying people for doing virtually nothing. Apparently, it was during this time that his psychiatrist put him on medication for a personality disorder.

Richards' plan would cost him millions of dollars per day. "I don't know what the doctors gave him, but he refused to take it," said a friend, who didn't want to be identified. "I think around that time, [Richards] got locked into this cycle of giving away money, and now he can't get out of it., a Palo Alto based company, gave money to people who surfed the internet. The dot-com crunch in late 2000 caused the company to fold along with many similar companies.

Richards doesn't want to say how much money he has. However, with the current population of Silicon Valley at an all time high, Richards' plan would end up costing him millions of dollars every day.

Richards did not explain his reasoning for distributing the money. However, he did make the following statement: "The rules have changed -- it pays to live in Silicon Valley!"

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