> The founder is very good. He builds a plan that, on paper, is flawless and airtight: manufacture a more efficient oven using new technology. Selling it is easy. Want to work more efficiently? Buy our oven. End of pitch.

Are you kidding me? Here's my business plan: manufacture faster computer chips than anyone else ever has before using new technology. Selling it is easy. Want faster computers? Buy our chips. End of pitch.

Here's my execution strategy: I'm going to hire the person who comments the most on Hackers News discussions about new chips and let him loose, then come back with a million new requirements because I never bothered to understand anything about how people want to use computer chips or how they're sold today.

My company eventually loses its only customer when it turns out that we don't know how to build faster computer chips at all.

The founder is not "very good", he's a moron who doesn't make a single good decision in the entire story. His failure is absolutely predictable because he doesn't add any value for anyone else at any point in the story, he doesn't understand his customers, he doesn't understand the market, and he doesn't understand his employees and their motivations. The only thing he ever does is raise money, and he's able to do that because his investors also know nothing about the customers, the market, or the potential employees.

Great business parable! This matches how reality works 100%, including the delusion that guys like this are "really smart".