Former Douglas & Gordon executive director and Viewber founder Ed Mead has posted a video asking the industry to understand the stresses and strains that that anyone starting up a business can come under.
His comments follow last week’s news that online-only lettings agency Upad has shut up shop in part, Mead says, because of health issues suffered by its founder James Davis.
Mead says he understands the pressure that property businesses come under and that he also had to visit the doctor after suffering heart palpitations during the early days of Viewber.
Mead was told they were due to stress and drinking too much coffee as he went from meeting to meeting, drumming up new clients.
Davis has reported that health complications, including suffering a suspected heart attack, led him to throw in the towel with Upad which, after over ten years in business, had yet to make a significant profit.
“James is a nice guy but the stress he’s been under is indicative of proptech,” says Mead.
“Any new business you start up is quite stressful and my heart goes out to James and I know there’s been a lot of support for him; although you may or may not approve of what Upad and the online estate agents are doing, it takes a long time for the businesses – sometimes – to become profitable.
“Being in business at the moment within the property world in the current economic environment is stressful at the moment.”