$120M in VC for juice you could squeeze by hand. Peak Silicon Valley.
A $699 Wi-Fi-connected juice press backed by $120 million in venture capital from Google Ventures, Kleiner Perkins, and others. It squeezed proprietary DRM-locked fruit packs that cost $5-8 each. Then Bloomberg reporters discovered you could squeeze the packs by hand and get the same amount of juice. The company shut down five months later. Juicero is now the universal symbol for Silicon Valley solving problems that don't exist with money that shouldn't have been spent.
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