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ning’s greed might for once work in their interest as well. He called both his nephew and Sean Parker and got their proxies. Parker had moved, then lost his lease and was staying at Shawn’s house, and the two friends hashed through the possibilities until 5 A.M. Already angry that Barry would sell them out, they were incensed by a new rumor: that a key point in the negotiations was Barry’s request for a clause from Bertelsmann protecting him and John Hummer from personal liability. Barry confirmed that personal indemnification was an issue in the talks, but he said he had reason to be nervous: Hilary Rosen had hinted that Hummer Winblad or its partners would be the next to be sued. Once, Barry told others, Rosen had warned him: “We know you have a nice house on Tasso Street, and we’re looking forward to having it.” (Rosen denied making so personal a threat.) As they counted votes the day before the Napster board would meet to vote on Bertelsmann’s offer to end Napster’s independence, Fanning and his allies figured they had a good chance.

One problem was Ron Conway at Angel Investors. As the value of his portfolio plummeted, the quick-dealing Conway had done the unthinkable and sworn off investing in new companies. Instead, he told his limited partners, he would dedicate himself to salvaging what could be salvaged. The glad-hander of old had been replaced by a new Conway, one who had already forced the liquidation of one Internet incubator. “I’m a mortician,” he complained to one entrepreneur. Because one of Conway’s multiple investments in Napster had come alongside Hummer Winblad’s, he stood to get some of his money back however the millions were divided. Anything at all would exceed his expectations: A confidential year-end rundown of Angel Investors’s portfolio, given to the fund’s limited partners, had marked the Napster stock down to zero. Now Conway was afraid that the last-minute shenanigans would drive Bertelsmann away, leaving him and many others who had believed in the firm with nothing. Conway didn’t expect good behavior from Fanning, but he fired off an angry e-mail to Amram, the professional who was supposed to know better. “I cannot believe that you are working with John Fanning when he has not invested a dollar in Napster and in fact has already profited from selling shares when you and I invested real money in this company,” Conway wrote. (To be more precise, Fanning had invested a grand total of $7,000, according to statements in court.)

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