Canada’s “Disrupted”, eh

Canada’s “Disrupted”, eh

The inaugural post of this blog was a review of Dan Lyon’s “Disrupted”, which put a point to the unicorn economy, where money losing companies crowd out real businesses by sucking up all the oxygen in the space. That bubble hasn’t popped …yet, although it may this year. In the meantime, here is another personal account of life within some VC-darling branding darling, this time up here in Canada. Read it here…

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What went wrong at Social Capital?

What went wrong at Social Capital?

“Social Capital arrived in Silicon Valley seven years ago with a charismatic co-founder, former Facebook executive Chamath Palihapitiya who also owns a piece of the Golden State Warriors. It raised more than $1 billion and made early bets on companies like Slack.” …and then it all went to shit. This Axios article tracks the implosion. (Sometimes I think by building a real company that actually has a real service and a customer base for 20…

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Mad Catz delisted from NYSE, files for Chapter 7 bankruptcy

Mad Catz delisted from NYSE, files for Chapter 7 bankruptcy

Peripheral maker Mad Catz has thrown in the towel after unsuccessfully scouring for (pick one), bank financing, an equity infusion or sale of assets. Apparently after enjoying a fairly solid business as a peripheral and game controller manufacturer during the  Playstation Era, the company tried to expand into publishing with an ill-fated JV with Harmonix to release Rock Band 4. The rest is, as they say, history, but in a more literal and fatalistic sense….

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Answers.com files for Chapter 11 Bankruptcy

Answers.com files for Chapter 11 Bankruptcy

Answer Corp, parent company to Answers.com has filed for Chapter 11 bankruptcy in a maneuver to jettison close to half-a-billion in debt. Top creditors are: Yahoo, Inc. with an unsecured claim of $545,209.34. Taboola, Inc. with an unsecured claim of $411,754.97. Facebook with an unsecured claim of $295,000. Don Morrison, former vice president of Foresee, with a severance claim of $217,000. Amazon Web Services, Inc. with an unsecured claim of $200,000. This on the heels…

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#tangodown Lily Robotics

#tangodown Lily Robotics

After collecting pre-orders from approximately 60,000 customers, autonomous camera drone maker Lily Robotics has declared bankruptcy and is shutting down. The company is looking for a buyer for it’s intellectual property and claims it will refund all pre-orders. Lily Robotics raised $15M in funding and took in over $38M in pre-order cash.

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‘Sup’ is down.

‘Sup’ is down.

The ‘Sup’ app, whose “boil the ocean” mission was to help people figure out which of their friends are nearby, and possibly available to hang with, will be shutting down. Despite being touted as “a really cool app” by the likes of Richard Branson and Steve Wozniak, it’s come up short: “We saw growth but we didn’t see the hockey stick growth that we needed to see to actually make it a viable billion dollar business and…

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Walgreens to pull plug on Drugstore.com, Beauty.com

Walgreens to pull plug on Drugstore.com, Beauty.com

In a cost cutting initiative, Walgreens will shut down drugstore.com and beauty.com by the end of September, proving once again that when placing your faith in “category killing” domains, the only thing you may kill is your own business. Walgreens acquired their fleet of ecommerce sites in 2011 for $429 million. They will incur a charge of $115 million pre-tax as part of the shutdown. Drugstore.com launched in 1999 (of course!) and IPO-ed at $65/share…

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