Mark Potts knows, but won't say. Or more accurately, the cofounder of the community website network, which burnt $3 million in less than two years before folding this summer, won't give up the good stuff. He's citing "private business matters involved that we've chosen not to discuss." Yet he's happy to post about general lessons learned on his Recovering Journalist blog. A lot of this is boilerplate that could apply to any new business - startups are hard, keep costs down - and some is pretty much Web 2.0 cant at this point - it's a conversation, engage your community - but still worth reading. One promising note for any community-oriented, ad-supported startups out there - Potts says selling ads wasn't really a problem.
But just for argument's sake, if we really are embracing communities here, and we really are in an age of transparency, I look forward to reading postmortems from SAS Investors, Omidyar Networks and other investors who sunk money into the venture. Anyone?