January 24, 2002

Had to share this... Questia Media down to 28 workers. - "Another round of layoffs at online library and academic research firm Questia Media has reduced the company to a skeleton crew of about 28 workers, just enough to maintain its Web site. About 40 workers were laid off last week without severance pay, sources say, when it became clear plans for another round of investment cash wouldn't materialize. The company previously raised more than $135 million and at one time employed over 300 workers, but has had several rounds of layoffs beginning last spring." (link from Library Stuff) How could such a venture fail so spectacularly when "Questia had the financial backing of major venture-capital firms and business people, including Compaq Computer Corp. co-founder Rod Canion and Enron Chief Executive Officer Ken Lay?"... Oops! Just answered my own question!

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