When it comes to launching a startup, it sometimes turns out that the idea with the grandest buildup results in an equally spectacular collapse. Just take the now-defunct Israeli electric automobile manufacturer, Better Place.
Better Place’s founder, Shai Agassi, promised he would sell millions of electric vehicles, end oil dependence and completely change the world by 2020. His bold idea was heralded by many renowned investors, and everyone involved was optimistic.
Then, as one former employee put it, “Everything we needed to go right went wrong.”
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The company was hit from every angle, with problems ranging from overspending to poor marketing and hiring decisions to dubious director oversight. Perhaps the most problematic issue was a company culture of hubris fueled by Agassi himself, saying things such as “If we go down, we’ll make a lot of noise.”
