In late July, augmented reality startup Skully ceased operations. How did it go from the most successful wearable tech Indiegogo campaign to defunct in less than two years? Its investors threw out its founders.
The nature of VC funding always creates the possibility for an investor coup. I have seen this play out first-hand when a tech company founder pursued an acquisition strategy without fully briefing his own executive team or board to ensure internal buy-in. That backfired. His executive team made an end-run to the board to oust him from the company, which they ultimately did.
