That's not entirely true. Definition of failure varies broadly for different people the same way definition of success. I know few entrepreneurs very closely who made their first startup very successful. Sure, it was very challenging along the way, but they made it in the end.
May be the fair statement would be - "Failed in one startup doesn't mean you failed as an entrepreneur. There is still hope that you can make the next one successful."
Yeah, I'll be damned if I let my business fall over. There have been plenty of really hellacious tough times already, but I refuse to give up on it. I have a little trouble understanding how anyone else can build something from scratch and then walk away from it.
If you have to add money to it to keep it running that would be one very good motivation to call it quits, another is that you see bigger opportunities elsewhere but you can't focus on those because of the albatross around your neck.
Sad to see. I had the chance to work with the 12seconds guys a couple years ago, and they were just about the nicest folks you could imagine. I hope they go on to bigger and better things.
I commend the 12Seconds guys for innovating and iterating a good idea as far as it could go.
The public video cam space (ie not Skype/private messaging and not adult stuff) has never gone mainstream despite many people trying hard - and no matter what you might do the fundamental proposition is just not attractive to most people.
Facebook has had a similar feature - most people don't even know it. Seesmic video (the original product there) is not worked on. Chat Roulette is really a meme/joke and no where near a proven business. TinyChat has video but it's still semi-private and certainly not mainstream.
I actually thought with the front facing camera and FaceTime on iPhone we'd see a shift but it still doesn't seem to be happening. Just like next year is the year for video calls, it still hasn't happened.
I wonder why shut down? Is this due to investors? Does it takes a lot of effort and time to maintain or the founders are moving on with their professional lives and having a start-up on the side is looked down upon within large Internet companies?
