Startup Founder Blogs His Company's Collapse

man covering his face with his handsIn Silicon Valley, the American Dream is alive and on steroids. Heaping bags of cash are handed to college dropouts with a neat idea, who can then sell that idea for more heaping bags of cash. But less talked about are the start-ups that fail, miserably and painfully. Until now, thanks to one man's intimate blog: "My Startup has 30 Days to Live."

In his first post on Tuesday, the anonymous blogger claims that he spent the past two years building something that he thought truly mattered. But he was suckered into "the startup game," he says, misguided by investors, stretched too thin, and now has no choice but to fire his team and admit defeat. His account is both an indictment of the startup bubble culture and a wrenching real-time obituary of his baby.
"I found myself sitting at my desk, afraid, alone and overwhelmed," he writes.

Tumblr made a big splash in the tech press Tuesday about the blog, hitting a chord in a crash-and-burn world of big dreams and easy cash, and prompting a wild detective hunt for the identity of its mysterious author. But that's what's so compelling about it. If it's true, he could be so many people: According to Mashable, 90 percent of technology startups fail. For venture-backed companies in general, that number is 3 out of every 4, according to Shikhar Josh, a senior lecturer at Harvard Business School. We just don't hear about them. As Josh put it in the The Wall Street Journal, venture capitalists "bury their dead very quietly."

For the enigmatic entrepreneur, it seems that trumpeting his failure is purely therapeutic. "The 20 minutes I've spent doing this each day have been the most calming moments I've had in some time, moments where I can detach and write something that isn't tied to business or content-marketing ploy," he wrote Thursday morning. "This is clarity, or as close to clarity as I've been in recent memory."

You may not follow Silicon Valley, but you probably slow down when you pass a car wreck. And this guy's offering a slow-motion play-by-play of complete annihilation, written like an epilogue to a dream.

Read below the slideshow, "Middle Class Jobs Killed By Technology."

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