

Start-Up Blows Through $300 Million In VC Cash - drm237
http://www.latimes.com/business/la-fi-paybytouch6dec06,1,6344497.story

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drm237
Sorry for the poor url. Go to the following for the full story:

[http://www.latimes.com/business/la-fi-
paybytouch6dec06,1,634...](http://www.latimes.com/business/la-fi-
paybytouch6dec06,1,6344497.story)

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jsmcgd
"The Pay by Touch saga is a cautionary tale about what can happen when
investors allow an entrepreneur to have too much control, experts said."

I would say its more a cautionary tale about investors giving an entrepreneur
too much money. 600 employees before turning a profit!

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mrtron
Impressive. I actually know someone that started something similar to it in
Toronto, and it resulted in a flop as well. <http://www.dexit.com/> It is
basically toast from what I understand.

On the other hand, MC's paypass seems to be excelling.

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dbrush
How not to not not start a startup...

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gscott
He bought like CardService International that is a good one to own, he should
have just chucked the whole fingerprint scanning idea and improved the
companies he bought with the investor cash... if he wasn't so unstable.

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PStamatiou
grr @ account-required news sites

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icky
Slice off the ?parameters from the article URL. :)

