Was it like that? In general it seems so. Many of the “failed” entrepreneurs have quickly returned to their old ways, and sometimes with unusual success. In case of Drew Houston, 34 years old, with a net worth of $1,040 million and who failed with his first startups Bit9 and Accolade. His first project, an automated poker betting program he created while a student at MIT, was a monumental failure; There were programming bugs that caused players to be unable to bet and lose their money. None of this stopped him from founding Dropbox in 2007, a cloud file-sharing service that has 300 million users worldwide and is worth an estimated $10,000 million.
Neither Kevin Ryan he is affected by his failure at Gilt. After leaving his position as the company’s CEO in 2013, he began thinking about new projects, some of which are already underway, such as Nomad Health: a website specializing in providing recruitment services for healthcare professionals is and has already received projects twenty million dollars from investors. In addition, Ryan, who was voted one of the “50 Most Influential People in Business” the year he was forced to step down, is a highly respected figure who has served on the boards of Yale University, ISEAD and the Investment Fund of New York sits city. Of course, while Ryan didn’t have success at Gilt, he did before at other startups: DoubleClick, which he founded (and now Google) and which he sold for $1,100 million; or Business Insider, who also sold the German company Axel Springer for 442 million.
Another ‘error’ in Gilt, Michael Peluso, who was appointed CEO after Ryan’s departure, can’t complain about being sidelined either. In October last year, she was appointed Chief Marketing Officer at IBM. The executive even stated that one of her goals is to bring Gilt’s positive work experience to IBM. Of course Peluso is not a rookie. Before Git, he was Head of Marketing at Citigroup and CEO of Travelocity.
The reality is that investors’ confidence in “their” entrepreneurs can sometimes reach inexplicable extremes. Not even starring the management disaster Parker Conrad at the helm of Zenefits has ended his career as a promoter of new startups. Just months after leaving his position at the company, he announced the launch of Rippling, a service designed to make it easier for companies to onboard new employees. In fact, an industry magazine recently wrote that “rippling investors are very excited about Conrad’s new idea and don’t seem to care what happened to him in the past.” ben lingof Khosla Ventures, stated that “Contrad brings a unique combination of intelligence, determination and flexibility, something that is hard to find.”
It’s just a few cases. The list of failed and recovered entrepreneurs could be almost endless.