> This thing looks like a turd to me. Now, maybe I’m the idiot and the joke’s on me and Color is going to be a huge hit. But my figurative money says that the investors who funded these guys just flushed $41 million in literal money down the toilet.

So the first half of his prediction was correct, color the product was a turd. Actually, a double-turd since their pivot seemed to change the product from manure to guano.

He simply didn't predict what may be a seller's market for strategic patents and their role within it. Which is why he's a journalist and not a VC. His brain isn't devious enough (an neither is mine!).