1 - "The service never had a clear business model, just an attitude of “get user adoption and we’ll figure it out later.”"
#%^&*! A site where people post their purchases. Does anyone really believe it would be hard to "monetize" that? If so, you're not cut out to be CEO.
2 - No one wants to share their purchases? Really? Tell that to the women that post youtube videos of the stuff they bought. Or tutorials explaining what make up to buy and how to apply it to look like celebrity X. Buyosphere is making that easier.
I didn't see a trend to people posting their credit card statements online. Making that easier is absurd.
I suspect the real reason is one which is all too common for startups' failure, but is hardly ever mentioned: the founders got bored. I guess it's easier to cite problems with the business model and traction, than to say this is not as exciting as we thought it would be, so we want to do something else.
I'd like to see real evidence of that. Every entrepreneur I've met treated the business like a child. I've never seen one walk away bored (too be clear, I'm talking in anecdotes, which may be wrong, but you'll have to convince me with real evidence).
1 - "The service never had a clear business model, just an attitude of “get user adoption and we’ll figure it out later.”"
#%^&*! A site where people post their purchases. Does anyone really believe it would be hard to "monetize" that? If so, you're not cut out to be CEO.
2 - No one wants to share their purchases? Really? Tell that to the women that post youtube videos of the stuff they bought. Or tutorials explaining what make up to buy and how to apply it to look like celebrity X. Buyosphere is making that easier.
I didn't see a trend to people posting their credit card statements online. Making that easier is absurd.