I'll admit, I hadn't thought of this perspective until reading this post, and I've been in the game for too many years.
There are challenges when bringing any start-up to life. The first one is potentially competitors.
This start-up, Storied, entered a market with competitors that were well backed, had many customers, and are making big names for themselves.
Why did Stephen think Storied could compete in this space? Never in the post did I hear why Storied would be able to compete, what was it's point of difference?
That's like trying to perform CPR on a body with an elephant sitting on it's chest. Unless you can get some leverage to get the elephant off the patient, you 're not going to be able to make a difference.
I may write a blog post examining this thread further if it's of interest to people.