There's an interesting article today by Sarah Lacy in Pando Daily. In it, she analyzes why there seem to have been a lot of high-profile failures among "celebrity" startups that had raised tons of money, and were being touted as doing very well by their boards and investors up to the point at which they failed. In addition, she laments the fact that, in today's environment with the growing cult of the celebrity entrepreneur, boards seem willing to let "celebrity" startups spend all their money despite the obvious fact that the business is going to fail. Here's what she wrote:
I'd argue that there is a 3rd prize; a healthy income on the 2% mgmt fee...
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