Fab.com

Fab.com's collapse from $1 billion valuation to $15 million sale exemplifies startup hype cycles. The design-focused flash sale site grew to $150 million in sales and 14 million members. Founder Jason Goldberg raised $336 million, expanded globally, and launched physical products. When growth slowed, Fab pivoted repeatedly - from flash sales to e-commerce to furniture. Each pivot lost more money. The company that once rejected a $900 million acquisition sold for scraps. Fab demonstrated that growth metrics without unit economics create nothing durable.