This new site keeps track of failed startups and why they flopped
businessinsider.in
businessinsider.in
I am deeply concerned by the wild enthusiasm for startups these days. Just because a company has venture funding doesn't mean it's still going to be in business five years from now.
While there are some VCs that I have quite a lot of respect for, I regard the vast majority of them as idiots if not downright criminal. Consider that Knowmed Systems, an electronic records startup, was required by its VC to change its name to "iKnowmed" so wall street would get the idea that it had something to do with the internet.
Based on my own personal experience with venture-funded startups I wrote "The Valley is a Harsh Mistress" at http://www.warplife.com/tips/business/stock/venture/capital/...
The richest people I have ever personally met made their own fortunes without obtaining investment from anyone else.