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A Chinese backer was supposed to spearhead.5 million round to keep the startup alive, but they dropped out last-minute. Some were wrapped in high-profile controversy and drama, like Elizabeth Holmes Theranos. Despite all the appearances of growth, market awareness was still quite low. Title: Homejoy Shuts Down After Battling Worker Classification Lawsuits Product: Homejoy CEO Adora Cheung said the deciding factor was the four lawsuits it was fighting over whether its workers should be classified as employees or contractors. CEO and co-founder Adam Tilton wouldnt comment on the specific challenges Rithmio faced or why it shut down. Note: Less than a month after the closure announcement, Vasupal was arrested for fraud in a bizarre case involving Stayzilla business dealings. Title: Team Doughbies is moving on Product: Doughbies The team from Doughbies recorded a short video explaining its desire to move on: Ultimately we shut down because our team is ready to move on to something new.

As of Aug 29, Washio will be shutting down its operations. And anyway, Im not convinced in the wisdom of crowds for anything beyond general knowledge. Biggest takeaway: As soon as the data starts to suggest someone might be the wrong hire, dont wait, immediately start recruiting a replacement, and upgrade as soon as possible. We made as many bad decisions as we did good ones with regard to hiring full time, part time, and independent contractors/consultants. Dunworth added that Snapcard was doing very well according to various adoption metrics; however, in regard to the adoption of bitcoin for consumer payments, Dunworth stated, We kind of bet on that, and it didnt work.

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