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On average, it took most companies almost 6 years to exit, however, the length of time it took a company to exit had no impact on exit value.

If Twitter had a full-time CEO, he or she would have come to this conclusion in half the time. Twitter doesn’t have the scale to compete on an ad model, and their ad tools are substandard. However, they are unwittingly starching their hat blue and could acquire several of the remaining independent media properties (Lee, McClatchy, Condé Nast,... See more

We saw the labor market in general, but specifically, the freelancing market, which is even to this day very old-fashioned. It’s based on word-of-mouth recommendations from friends. You meet the freelancer at Starbucks. It’s like a date, right? It takes a lot of time and then you need to start negotiating a deal, figuring out if you want to work... See more

The board likely shares half of the blame, speculates Steve Blank, an adjunct professor of entrepreneurship at Stanford University. “Where were they?” he asks. “It seems like a toxic combination of a board not paying attention and a first-time founder in crisis.”