The latter reminds me of an example of a London based startup where the CEO wasted millions of dollars on holidays and personal luxuries while trying to market

The latter reminds me of an example of a London based startup where the CEO wasted millions of dollars on holidays and personal luxuries while trying to market an app with no mainstream audience. But hey, his dad was in the banking industry and could get him millions from investors he knew, so hey a non viable company got funded.