Pressgram announced they were shutting down today.
There’s always something to be learned when another entrepreneur “fails.” That’s in quotes because I don’t really consider Pressgram a failure, because I’m sure the lessons John learned from this are invaluable.
The strange thing is that they have had more media, exposure, and users than any company I’ve started. So when they shut down I’m not sure if I should feel good about my own business (still here), or if it is a portent of doom (maybe I will fail?)
It’s also strange when someone announces the demise of one venture along with a preview of their next business. John announced that he is working on a new desktop publishing project called Desk.
I think I’ll skip that one.
Entrepreneurs tend to be overly optimistic about their “next” project, you almost have to be. But what about the people that invested in this one, with time or money?
Shutting down a startup comes with consequences. You lose something. You lose trust.
It reminds me of Adii, who has had some very public ups and downs in his career.
After launching Public Beta, he shut it down for personal reasons, only to reopen it again. He’s also had a few other smaller projects that he sold off after a very short time.
I’m not super excited to sign up for the next project, because it might have the same fate as the last one. I’ve also lost some trust for the founder, because I went along for the ride and it hit a dead end.
I understand that startups fail, and I appreciate the public honesty of guys like John and Adii. I wish them only the best.
Startup failure is an inevitability, I just want to remember that the founder is not the only one who loses when it happens.