COLOR got $41MM for having an all-star team, not because their investors could see the future...
In any case it shows that not only money isn't everything, but that whole "invest in the team" mantra is flawed as well, just look at Instagram: it was made by a guy who wasn't an engineer and learned to code in his spare time!
The idea matters, the market matters, throwing money at a previously successful team isn't the be-all and end-all of startup strategy.
In any case it shows that not only money isn't everything, but that whole "invest in the team" mantra is flawed as well, just look at Instagram: it was made by a guy who wasn't an engineer and learned to code in his spare time!
The idea matters, the market matters, throwing money at a previously successful team isn't the be-all and end-all of startup strategy.