Mr. Nguyen said the company had taken the criticism to heart and charted a new course. He fired Color’s president, Peter Pham, and its engineers are building a new version of the app to be released later this summer.
I'm guessing Peter and Bill aren't exactly best friends right now.
Even though I don't agree with raising $41 million for a "concept", you've got to give them credit where credit is due. Admitting all of your failures in a NYTimes article is a very brave thing to do.
I think Color is a lesson for any entrepreneur, just because you can raise a lot of money doesn't mean that your product will be successful. You really need to work on it and test it with real people to see if it's viable.
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[ 2.8 ms ] story [ 16.9 ms ] threadI'm guessing Peter and Bill aren't exactly best friends right now.
I think Color is a lesson for any entrepreneur, just because you can raise a lot of money doesn't mean that your product will be successful. You really need to work on it and test it with real people to see if it's viable.