Internet Archaeology: How One Person Lost Over 3 Million in a Year
The year was 2015, and the main issues were:
1. Neither the boss nor the product manager had a clear direction for the product, leading to multiple rounds of redesigns. The final release was delayed by nearly eight months, and what came out was barely presentable.
2. The boss never figured out how to make money, so the later stages of operations and promotion lacked a clear strategy. There was little progress in securing external partnerships, which made it nearly impossible to generate revenue.
3. The team was unstable with high turnover, causing specialists to frequently be reassigned to tasks outside their expertise and further delaying progress.
In the end, over 3 million RMB was spent on salaries alone, and nothing lasting was left behind.
This is a case showing that even when riding the wave of mobile internet and targeting the right markets—such as pre-installed apps and education—it still doesn't work if you're led by incapable and immature management.