I remember attending a Startup School talk wherein Max Levchin explained that Slide wasn't a "pimp my MySpace" company, but rather a data mining company using MySpace widgets as the trojan horse. So, Nguyen isn't the first serial entrepreneur to receive loads of funding based on his reputation and attempt to exploit the trend du jour to mine data from the masses.

We all saw how well that worked out for Slide. My guess is that Color will see a similar fate. It's unlikely you'll build a great social photo sharing application if that's not your primary focus.