Why the High Turnover Rate at Clinkle?

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April 1 (Bloomberg) -- Adam Satariano reports on layoffs and turnover rate at Clinkle on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

You wrote about the problems and now another executive leaving.

What is going on?

After the raised money from a list investors around silicon valley, they have been tripping around.

A lot of staff departures, delays in getting the product out, a security breach.

We read a lot about the start ups as they go out the door and getting a billion dollar acquisition.

This is the other side of the spectrum of a country -- company really struggling.

The failure is the difficulty of a small company with a couple 10 million and backing is mildly interesting but i feel like this is emblematic of the era we're are in.

Reminiscent of thedot dot com era and then big funding that seems so silly.

Is there more to this than silly ? there is an element of easy money moment in silicon valley where this guy has an idea out of sanford and goes around to silicon valley pitching it to people like peter teal and richard branson and andreessen horowitz and everyone does -- throws money out of it and a little bit of fear of missing out.

Everyone gives a little bit of money in hopes it will end up being like whatsapp.

How did he get the meetings?

Did he have any kind of track record?

I can understand it is something like color.

It sold eight companies before that company.

It did not work out, but i understand.

What is so great?

He came out of stanford and his advisor was the president of the school, john hennessy.

He was in the computer science department.

He was attacking a big problem, the idea of making payments with the smartphone is a compelling idea and a lot of big companies going after it.

My reporting is peter teal was interesting and after he invested he cofounded paypal.

Other investors thought it.

I would like to see the investors convincing people to write checks.

We do have the statement about andy leaving.

They say we are adding users by the week and remain focused on adding products and engineering and wish him the best at future endeavors.

It is not available to the public.

These are beta testers they have.

Until they can get a product on the market, maybe we will see it but right now they are struggling.

We will be right back with more of bloomberg "west" after

This text has been automatically generated. It may not be 100% accurate.

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