eevRANT: Lily Drones Folds. A $45M FAIL!

The Lily Drone company has folded, admitted defeat, and will not deliver after 3 years, $30M in pre-sales plus $15M in VC funding.
What a spectacular FAIL!
https://www.lily.camera/adventure-comes-end/

IMPORTANT:
This video clearly falls under the category of "Nominative use" a.k.a "Trademark Fair Use" under the (1992) U.S. Court of Appeals for the Ninth Circuit.
There is no other way to report the news without using the company name. And there was no suggestion of endorsement
or sponsorship.

UPDATE: Lawsuit from the District Attorney:
https://techcrunch.com/2017/01/12/sf-district-attorney-lawsuit-against-lily-may-have-prompted-refund/
And refunds might not happen, they owe the bank:
https://www.suasnews.com/2017/01/the-people-vs-lily-robotics/

Forum: http://www.eevblog.com/forum/blog/eevrant-lily-drones-folds-after-$30m-in-pre-sales/

EEVblog Main Web Site: http://www.eevblog.com
The 2nd EEVblog Channel: http://www.youtube.com/EEVblog2

Support the EEVblog through Patreon!
http://www.patreon.com/eevblog

EEVblog Amazon Store (Dave gets a cut):
http://astore.amazon.com/eevblogstore-20

T-Shirts: http://teespring.com/stores/eevblog
💗 Likecoin – Coins for Likes: https://likecoin.pro/@eevblog/dil9/hcq3