If you really think you can: pitch. Don't just complain that other people are getting the money.
Maybe the point was that there are a lot cooler ways to piss away 41m than taking 5 photos at WWDC. Perhaps few of them would sound interesting to a VC though.
I'd much rather bootstrap than take VC money – but that’s beside the point.
If Color ends up burning through $41M doing another failed social service (which seems likely), no one wins, and stories like these cast doubt on the whole startup economy.
The question is; why can't/aren't they? What are they using the money for?
MVP out the door and in the hands of us early adopty-type folks and then work to make a much "better" (whatever this means in your mind) product? It's what I would do.
To be fair this is what Color thinks their MVP is....