Kaboum business reality hits, thousands of young so called entrepreneurs, many who had no knowledge whatsoever in programing, have been launching in the last few years startups, and getting millions of dollars in funding from Angel investors! mostly thanks to wannabe journalist bloggers, that have little knowledge about business journalism and most importantly are biased.
The end result thousands of startups with ideas that already exist on the market or that have no chance to succeed, got millions of dollars, created teams and wasting rapidly the angel investors money, while thousands of companies and startups with real experience can not get any funding due to this huge amount of false positive created mainly by blogs like Techcrunch …
The level of absurdity was so high, to a level that all you needed is an idea, a Stanford degree (or lack of it – dropouts) , and a connection to the tech scene, mainly the mighty Arringhton, this assured that you will presenting your idea in a sexy way for angel investors, who many are wannabe investors to begin with!
ReadWrite have witten an excellent article on this subject: link