[2016-01-22] Start-Up Investors Want Their Money Back as They Watch It Burn

[crossabdd]

Clinkle’s pile of ashes pale in comparison to the embers left by Bitcoin when an influential developer of the online currency set it aflame last week, calling it a failure and saying he had cashed out all his coins in a blog post on Medium.

“Bitcoin is an experiment and like all experiments, it can fail. So don’t invest what you can’t afford to lose,” he wrote. “But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards.”
http://www.vanityfair.com/news/2016/01/clinkle-investors-want-money-back

[aso118]

Clinkle’s pile of ashes pale in comparison to the embers left by Bitcoin when an influential developer of the online currency set it aflame last week, calling it a failure and saying he had cashed out all his coins in a blog post on Medium.

“Bitcoin is an experiment and like all experiments, it can fail. So don’t invest what you can’t afford to lose,” he wrote. “But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards.”
http://www.vanityfair.com/news/2016/01/clinkle-investors-want-money-back

This article talks about the investors of a particular start up (Clinkle) wanting their money back. Nothing surprising about that.
Less than half of start-ups survive. 

[gentlemand]

I think we're going to see rather more stories of this nature as time goes on. VCs chuck as much shit at the wall as possible and hope that something sticks. I don't think many will. The average grandma in the street could peruse fundamentals and figures and tell them it would all turn to shit.