Not exactly true. They had a good team lined up, and a founder who had previously started and sold some companies. The idea was sound. Fortunately for all, TA m

Not exactly true. They had a good team lined up, and a founder who had previously started and sold some companies. The idea was sound. Fortunately for all, TA made sufficient progress between Day0 and funding to tell his investors that, in fact, it was not as good as it sounded. In today's environment, many founders (by the looks of it) would choose to do otherwise - burn money until it's all gone, knowing full well their business is vaporware. That might work today, and one might even be able to pivot their way out, but that's not the greatest idea ever. IMO