This does make me wonder how investors pick what to invest in. I expected a little more due diligence form the people who gave him $20 million. I agree that Santos's failure comes from his...
This does make me wonder how investors pick what to invest in. I expected a little more due diligence form the people who gave him $20 million. I agree that Santos's failure comes from his inexperience running a business. What struck me was Santos starting projects and then abandoning them a couple weeks later, since I have done that multiple times (thankfully without much money involved).
One another note: articles like this seem really useful. Is there a book detailing startup failures like this one? I guess I am looking for startup that failed because of actual issues, rather than startups like Theranos, which failed because of outright fraud.
I don't know of any good books on startup failure specifically, but I mentioned Fooled by Randomness in another similar thread and I think it provides an interesting view on what leads to these...
I don't know of any good books on startup failure specifically, but I mentioned Fooled by Randomness in another similar thread and I think it provides an interesting view on what leads to these poor choices - both within the business, and perhaps even more so from the investors as you mention above.
I also found When Genius Failed very interesting. It's essentially a case study of how a single fund managed to cause a global economic panic in the late 90s. It's not really a startup per se, and by definition it can't touch on modern startup culture, but in its way that makes it all the more interesting: the parallels to be drawn are striking even though the company started even before dialup internet access was readily available.
This does make me wonder how investors pick what to invest in. I expected a little more due diligence form the people who gave him $20 million. I agree that Santos's failure comes from his inexperience running a business. What struck me was Santos starting projects and then abandoning them a couple weeks later, since I have done that multiple times (thankfully without much money involved).
One another note: articles like this seem really useful. Is there a book detailing startup failures like this one? I guess I am looking for startup that failed because of actual issues, rather than startups like Theranos, which failed because of outright fraud.
I don't know of any good books on startup failure specifically, but I mentioned Fooled by Randomness in another similar thread and I think it provides an interesting view on what leads to these poor choices - both within the business, and perhaps even more so from the investors as you mention above.
I also found When Genius Failed very interesting. It's essentially a case study of how a single fund managed to cause a global economic panic in the late 90s. It's not really a startup per se, and by definition it can't touch on modern startup culture, but in its way that makes it all the more interesting: the parallels to be drawn are striking even though the company started even before dialup internet access was readily available.
They both look pretty good. Thanks!