4 ms·
These guys wasted a lot of money that could have been used to fund 100s of other companies. This should make the headlines as a case study, what went wrong and
by vladimirralev 13y ago
These guys wasted a lot of money that could have been used to fund 100s of other companies. This should make the headlines as a case study, what went wrong and how to avoid it in the future. When a high profile well-funded startup goes south, there is a lesson to be learned for many people.
- pbreit 13y agoIt would probably take over $100m to fund "100s of other companies". The company is not going south. It brought in top-tier talent (Barry McCarthy ex-Netflix, namely) who reasonably concluded the company wasn't structured properly from a personnel standpoint. This doesn't appear to be another Color considering the company has plenty of cash, some quality executives and a functional product in a huge, well-known category (payments).
- kloncks 13y agoPerhaps he was talking about examples like YC funding "100s of companies" (500? 600?) with less than half of what Clinkle has raised.
- pbreit 13y agoThen that's a total mis-understanding of what YC is and how it compares to venture capital. And no one has really come very close to replicating YC despite quite a few attempts.