How a Hot $100 Million Design Startup Collapsed Overnight

Nobody talks about failure in Silicon Valley, yet 90% of startups fail. Why? 3 yrs ago, @neerajberry and I shut down @Sprig, which raised $60M from @GreylockVC + @socialcapital & grew to $20m revenue. Then, it all fell apart. For an honest story about failure, **Read on**

Ultimately, Proenza’s fortunes unravelled for many of the same reasons so many of its peers are no longer in business: misallocation of funds, disagreements with investors, seismic shifts in the industry at large, and a fashion ecosystem that did a poor job of preparing young designers for the realities of entrepreneurship.