[bitcartel]

Why not both?

The media are part of the hype machine but they aren't responsible for investing in companies like Summly, holding demo days, running weekend hackathons, acqui-hiring or bringing on board token celebrity investors... are they?

[jakerocheleau]

I just heard of Summly for the first time yesterday, it seems like their recent fame has come greatly as a result of the purchase by Yahoo!

But I can't judge as I haven't been closely following the story. Is there any general consensus on the funding as a good or bad idea?

For the record I really like their promo video. It shows off the product with a bit of witty comedy. I just couldn't find myself using it, and I don't know how it'll fit into Yahoo, but definitely a fun app.

[bitcartel]

Summly discussion over the past few days:

http://news.ycombinator.com/item?id=5442290

http://news.ycombinator.com/item?id=5445159

http://news.ycombinator.com/item?id=5449394

[argonaut]

Are you criticizing the startup scene for its salivation over youth entrepreneurs? Or are you now shifting your criticism to things like acquihires and celebrity investors?

I find nothing wrong with hacakathons and acquihires, personally. As for celebrity investors, if a social media startup feels they need that kind of marketing / media attention, good for them.