Here’s a post from my favorite VC Peter Rip for many a VC / founder to take heart from. Look at the way he gallantly admits mistakes made by the Teqlo team and how they’ve chosen to rewire it all over again. He has masked the specifics Teqlo is working on for good reason, but the narrative is all candor. Excerpts –
“I figure the only authentic thing to do is to talk about this again, even when it is in an ambiguous period of re-birth. This ugly period is a re-tooling of the premise of the business to give it more clarity of purpose. It’s not fun being in the sausage phase.
First, let me admit we went down a mashup rat hole. We have a general technology for snapping together web services. “Because they can” is an insufficient answer to “why do people want to create mashups?” We failed to commit to solve a specific problem for a specific market, preferring instead the broad appeal of generality. This has changed.”