Startups Die From Overfunding
Sramana Mitra
Founder and CEO of One Million by the One Million (1Mby1M) Global Virtual Accelerator
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Funding = Success, right? I wish it did. But entrepreneurial tracks are littered with carcasses of dead startups that were very well funded, some to the tune of hundreds of millions. As a case in point, watch this 2 minutes 31 second video: Death By Overfunding.
If you prefer to read instead of watching, read the Nasty Gal story here:
And, here are more stories of entrepreneurs whose startups have died because of their addiction to venture capital.
Each started with a promising business.
Then each went overboard in their quest for hyper growth without paying attention to fundamentals.
Collectively, these companies have flushed billions down the drain, and then gone out of business.
It’s painful to watch.
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