You have a team. You have funding. You have a product. And you have a celebrity backing your company. What could go wrong? Lots, apparently. A lot of things can go wrong.
We know this because the list of failed startups that either had celebrity cash or endorsements is pretty damn long. It’s not exhaustive — having someone that people want to take pictures with on board won’t automatically up your burn, but at the same time, damn. It isn’t a stretch to presume that if you attach a bit of glamour, and a free fanbase to your product, your chances of survival might kick up a notch. Not always.
There are some exceptions to the rule, such as Jessica Alba, a founder of the Honest Company. It’s worth nearly $1 billion. Jared Leto has made a smart investment or two. But for every positive example we could find, we found a few more to the contrary. Let’s take a look.