Just because your definition of skills is limited to writing code does not mean having connections, being good at marketing, PR or selling has no value. It's exactly the same mentality we developers hate when idea-men want to hire us as code-monkeys to implement their perfect vision.
Reading stories on tech blogs does not mean you know how much hard work someone put into their whimsical-seeming startup. Being a celebrity certainly does not automatically imply you don't have to work hard.
And just working really really hard also does not entitle you to success. Life is unfair. Get used to it.
Acquisitions are not a meritocracy. If you don't like it, go into a business where what goes on is more like a meritocracy.
Otherwise most startups that get bought wouldn't get bought, since most of them don't have any revenue (much less profit).
What it does though is translate into a lot of people giving the app a try, that marketing isn't going to have people continue to use something if it isn't any good. Obviously it wasn't good enough to hold peoples attention, user retention or engagement must have been bad for them to shut it down.
half-baked idea got hundreds of thousands of users... That is success.
No it isn't. Success is earning money and staying in business. Oink earned zero dollars and failed, so how does did this failure translate into success for Kevin Rose? Was Oink just something to add to his resume? I don't get it. A lot of developers work really, really hard on their
startups for years bootstrapping, just scraping by, and
being ignored by investors because they're not famous.
Their startups have no users and they are just scraping by because they are terrible at marketing, or at knowing what people want. Achieving a low cost-of-customer-acquisition is a real, quantifiable skill.There are basically zero hot startups that have problems raising money. Getting to "hot" is the hard part, and it is not just making something, but making something people want. Good promotion is just as much of a skill as good UI design.
This is the way the game is played. If you don't like it, play another game. Raging against how the rules aren't fair and people aren't getting what they "deserve" just smacks of denial.
We don't need more B.S. webapps that let people comment on food, people, or anything else. We're all stocked up.
/rant