

Tell HN: Zirtual just announced it is ceasing all operations - jedwhite

Just received this email:<p>Dear Zirtual Clients,<p>It is with an incredibly heavy heart that I have to send this message. As of today, August 10th 2015, Zirtual is pausing all operations.<p>Due to a combination of market circumstances and financial constraints we must re-organize our current structure if we are to successfully serve you in the future.<p>I realize this news comes incredibly fast and I am truly sorry for the Z-shaped hole this will leave in your lives and business.<p>We know that many of you care deeply about your Zirtual Assistants. If you would like to connect with your assistant independently, please reach out to: questions@zirtual.com.<p>Thank you from the very bottom of my heart for the support you’ve shown Zirtual and my deepest apologies for the speed and inconvenience of this announcement. We will communicate further updates as soon as we have them.<p>Best,<p>Maren, Erik, Collin + the Zirtual Team<p>Maren Kate Donovan
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bamazizi
This can't be real!

She was just on 'This Week in Startups' (TWIST) and Jason was drooling at
Zirtual's $11m run rate after only couple of years. (Jason Calacanis is an
investor)

Was she lying throughout the interview? Is Silicon Valley built on
engineered/bought hype and no real substance?

source: [https://youtu.be/Tq_dMxsWe48](https://youtu.be/Tq_dMxsWe48)

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7Figures2Commas
This is expected in markets like the one we're in today. Too much money is
chasing too few opportunities. Angel investors are everywhere, and party
rounds of a dozen-plus investors are common. In many early-stage financings,
particularly the party rounds, a lack of reasonable due diligence is the rule,
not the exception.

This creates an environment in which you have a good number of ambitious
people becoming founders and raising capital even though they don't have the
experience or ability to run a real business.

Markets like the one we're in can be frustrating because there's so much chaff
you have to filter through, but that doesn't mean the _entire_ market is based
on engineered hype.

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greenyoda
See also the earlier discussion here:
[https://news.ycombinator.com/item?id=10033517](https://news.ycombinator.com/item?id=10033517)

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err4nt
I was going to sign up this week! What strange timing :(

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tim333
Bit pricy I guess compared to offshore?

