He had started a company that was profitable for a time, but things eventually slowed down.While it may not have been a huge financial success, he was able to provide jobs for a good number of people for a couple of years.
Before shutting down the company, he did everything in his power to make sure every employee he had landed on their feet. Including using his network to help one of his employees get a job at a competitor.
I respect the heck out of him for doing that. There's this misguided notion in the American working world that you have to be loyal to companies... I think instead you should be loyal to people. Whenever he calls, I always help however I can.