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Busted Tech: Shyp It Yo Own Damn Self!

The ubiquitous Uber-for-X designation doesn't seem so ubiquitous anymore. That's because a lot of those companies have failed or are failing. Take Shyp, for instance, an on-demand logistics/shipping service where couriers came to your home, packaged your wares (Ebay anyone?) and shipped them for you. "Came" being the operative word. The company announced that it's retrenching back to SF, abandoning service in Chicago/LA/NYC. Choice quote (after getting $50mm in venture capital from Kleiner Perkins), "'Investors are looking to put capital into businesses that are cash-flow positive." Funny how that works. With so much "tourist capital" (read: sovereign wealth funds, pension funds, Fidelity Investments in the case of Snapchat ($SNAP)) flowing through venture capital, expect a lot more coverage of "busted tech" to come.