“Show me the money”. “Follow the money”.
WHAT ELSE IS NEW?
This is an instructive tale, but I am shocked that Steve Blank did not recognize the “fiduciary responsibility” of his VC partners, RIGHT FROM THE START!
Big error, BUT NOT THE KEY ERROR.
I noticed the absence in the “Lessons Learned” summary of this lesson:
Don’t start ventures in business areas you know little or nothing about.