31–40 of 41 posts
How on earth did it take over 3 hours for someone at Color or Sequoia to confirm the company is in-fact not dead? You'd think employees/founders/investors would have been tweeting like crazy to deny the rumor.
I'm still trying to figure out how a company who has $41 million in funding and over 400K users can't seem to come up with a business plan that generates revenue. Is this another example of buyer beware when you invest in these kinds of companies?
400K users? total registered users? surely that can't be active users.
I don't really like Color just because its just not my thing but I don't quite get why everyone here hates them so much. There's a lot of vitriol spraying all over the place around here. Is it because they're super hyped and overvalued? I hate to break it to everyone if it is but most startups we read about here are overhyped and over valued. I don't get it. Seriously, I mean I get why people don't like Color but why does it seem everyone just hates them pretty severely around here?
Earlier quoted context omitted.
Because people have work to do, rather than sitting around checking Twitter, HN, and TC all day long? It's not like something's going to happen if they don't respond ASAP. As long as they'd gotten something out by the end of they day, they'd've been fine.
Yeah, people have work to do... like the PR people whose job is to handle bad news about the company. And yes, part of their job is to monitor tech news sites like the Verge.
theoretically, could it have happened way faster? yes, but who knows how hard it was to get a hold of everybody and make sure whatever information they had was accurate. 3 hours isnt that big of a deal.
Assuming Color's statement wasn't a lie that's some pretty shitty reporting by Venture Beat. Reporting a companies board has voted to shut it down is pretty big news and should require much more verification that one single email. Tech 'journalists' need to do a better job when reporting this sort of thing.
EDIT: not somebody. It's Venture Beat that owes the explanation. Either they stand by the story even if they're willing to do that without full verification, or they must apologize for jumping the gun.
How on earth did it take over 3 hours for someone at Color or Sequoia to confirm the company is in-fact not dead? You'd think employees/founders/investors would have been tweeting like crazy to deny the rumor.
August 17, 2012 > OnLive lays off all employees, assets sold to new company [0]
5:20 PM - August 17, 2012 > OnLive Denies It's Shutting Down, Won't Comment on Layoffs [1]
08/20/2012 10:11:33 AM PDT > Game company OnLive reveals new details of restructuring [2]
Winding down a business might mean they are trying to orchestrate a merger or aq-hire. Or a whole host of other things. For which you would not want your name in the news (sensitive negotiations, or wat-ever).
______________________
“We don’t respond to rumors, but the service is not shutting down,” OnLive said. [3]
______________________
[0] http://www.gamasutra.com/view/news/176180/OnLive_lays_off_al...
[1] http://www.tomshardware.com/news/OnLive-Shutting-Down-Layoff...
[2] http://www.mercurynews.com/entertainment/ci_21351760/game-co...
[3] "Just a short while ago reports emerged that the gaming and virtual-desktop software start-up had issued pink slips to all of its employees and was effectively shutting down the service. The first part, we’re told by an OnLive spokesperson, is not the case." http://allthingsd.com/20120817/onlive-denies-reports-that-it...
Unfortunately, not giving up and willing yourself to success isn't enough to overcome an nonexistent business model.
Color is the pets.com of the current bubble
Earlier quoted context omitted.
Because the last thing you want to do is have employees (even execs) shooting their mouths off in the heat of the moment and saying something stupid. You want to regroup, figure out WTF is going on and how the rumor started, and figure out a sensible statement that is going to calm this down instead of rile it up some more.
> saying something stupid What kind of stupid thing could you say? The company is either dissolving or it is not. Seems pretty easy to figure out.