Foul-Mouthed Blogger Ted Dziuba Tells Why Most Startups Fail (2007)

TD: What I'm seeing now with a lot of these Web 2.0 companies is that they're not based on technology, but on a dog-and-pony show. Under the surface, there's nothing noteworthy going on. The majority of them are just rolling the dice, and they know it. These are the people who will go to parties just to suck up to Arrington and say, "Hey come look at my startup. Please plug me." For these guys TechCrunch is going to make or break the company. If you look at a company's traffic graph on Alexa when it hits TechCrunch, there's a huge spike that day and then a month later it's down to almost nothing. In this world it's all about creating the buzz. It doesn't matter about revenues or profits. It's just about how many users you can get.

Of course, he later had a very successful exit with Milo, so he still gets the last laugh.

Funnily enough, after all the startups he's mocked, the one he really liked ended up failing.