Silicon Alley Insider posted a great post mortem on well funded start up called Monitor110. A few of the key insights for me was that the company received too much money initially and management team was not focused. It is very difficult to find candid stories about failed start ups, so learn as much as you can from other peoples’ failures.

http://www.alleyinsider.com/2008/7/monitor110-a-post-mortem#slide_4