[ScottWhigham]

I love that saying. However, don't forget that a lot of really, really smart people put money into Homejoy because they felt Homejoy had solved the market (i.e. there was a market in the gap). It's not enough to just say, in retrospect, "... they may not have spent time thinking about the second (or didn't research..."). That's just clearly not the case here - they spent plenty of time on that as did their investors. Sometimes it comes down to the fact that they left out key components, the founders weren't capable, the market didn't react as anticipated, etc.