Gizmondo's Spectacular Crack-up

**souLLy** · October 4th, 2006, 15:22

The incredible story of the Gizmondo, complete with 200mph car crashes, the mafia, Busta Rhymes, millions of dollars and loaded magnums is being told over at Wired and is a must-read. Who knew the story behind the weak cousin to the GP2x was so exciting?

Originally Posted by Wired

In the early 2000s, Gizmondo rose to prominence as the maker of a handheld gaming device designed to compete with Nintendo's DS and Sony's PlayStation Portable. The company touted its gadget as the next big thing in pocket electronics and, at one point, talked of moving half a million units in just a few months. But critics panned the device, and it failed to entice many customers. A month before Eriksson went off the road, Gizmondo declared bankruptcy, having hemorrhaged nearly $400 million in less than four years.

It might have ended there, another high-flying company with big ambitions and a lousy product. But the crash put a spotlight on Eriksson and raised a series of questions: Who is he? What kind of person drives nearly 200 mph on a coastal highway? The answers led to even more puzzles. In just a few years, it seems, Eriksson went from languishing in a European jail cell to making millions as a tech executive to, even more improbably, becoming deputy commissioner of antiterrorism for an obscure Southern California transit police force. Before *Eriksson lost control of his Ferrari in Malibu, no one in the US really cared about his strange story. But after the supercar came apart, Eriksson would find every inch of his life under scrutiny by the LA County Sheriff's Department, federal law-enforcement officers, and the media. That's when Eriksson and a tangle of cohorts would find out just how large a little bump could loom...

Full story:
http://wired.com/wired/archive/14.10/gizmondo.html