This is a good article from Harvard Business Review on the hubris of courting too much media attention too early on in a startup. Somewhat relevant as only this weekend I was clearing out dead LastPass accounts and Ello was one of those that got axed. One of the biggest reasons for this media seeking attention is to make funding so much easier.
I am always amused at how the validation from a fresh-faced 20 something ‘journalist’ republishing a polished up press release can make the difference in millions of venture funding.
Ello’s story shows what can happen when a startup achieves media success that outpaces its progress in other areas. While some founders suffer from a naïve “If you build it, they will come” attitude, many others swing to the opposite extreme. Tempted by the allure of media exposure, they seek it out before they’re ready. Case in point: Elizabeth Holmes at Theranos, who chased TED talks, New Yorker profiles, and Fortune covers before her company’s core technology even worked