Normally I try not to be critical with start-up companies because the founders are taking a huge risks and face a lot of pressure. Start-up companies and free enterprise is one of the biggest reasons why this country is the best place to live. The reason I am being critical of Color is because they raised $41 million in funding without even launching a product or gaining any traction first.

For those of you that do not know what Color is, they are a mobile photo social network that was founded by Bill Nguyen. Rumor has it that Google offered them $200 million before their company even launched.

Color.com is a service that came out of nowhere this week and shocked the press. The company has developed an application for smartphones that automatically lets you share photos with the people around you. Essentially they are calling it photo sharing with an “implied social network.”