via readwriteweb.com
Imagine this: A startup with a vibrant and successful founder arrives with the vague notion of a good idea. Venture capitalists, knowing the success of this founder, throw a bunch of money at him and his team, even without a tangible product behind it. The startup eventually releases a product that few understand or find useful. The company, reeling from bad publicity, take months to re-imagine its product before releasing a new version that is also uninspired and unloved. A few months later, the company closes for good.
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