The media and startup community had a ball last week bashing Juicero, a company I have some familiarity with. On the face of it, they seem to have overtired, overbuilt, and overengineered a fairly simple juice business, representing the excess that can and has occurred in SV when money pours in.
After reviewing the Plastc closure note and subsequent blog posts across the tech web, it's clear that folks are angry that Plastc was not able to deliver on their promise, despite nearly $9M raised via Kickstarter (and subsequent investors). I'm not going to even begin to address the issue of meeting investor/kickstarter supporter expectations, nor do I know the specific details of the failure at Plastc, but I can share some quick thoughts on what I've seen here and why this was such a difficult problem to address.
Like many of you, i watched Billions this week on Showtime and was privy to one of the better take downs / straight talk moments in evaluating a startup business. The moment came when Bobby Axelrod was analyzing his wife's meetings with investors for her small 'healthcare' business, and he was being pushed to tell her why she wasn't ready for funding.