Part of the problem is that an MBA can be a lot of different things even within a schools. I, for one, am working on learning how to solve problems that startups face, problems that can't be solved by code.

I'm not saying that hiring an MBA would have been a magic fix for Everpix, but when looking at the business as a whole, the product looked great (despite its lack of support for non-JPEG formats, but that's more of a personal nitpick) and there was engineering talent to continue building the product. However, the part of the article I quoted above indicates that the team lacked the business talent to successfully find a market for the product (or to identify that there wasn't a market and pivot while they still had cash left).