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 Labs, of the Color mobile photo sharing app, has lost Chief Product Officer DJ Patil. TechCrunch reports that Patil resigned from Color after working for them for about 5 months, and was previously LinkedIn’s chief scientist. Patil will remain an advisor to Color, but the transition is definitely a hit to the company, which lost cofounder Peter Pham last month.