Business Insider provides a great breakdown and plenty of insider gossip on how Dan Wagner built and destroyed UK payment startup, Powa.
Powa Technologies collapsed in February after blowing through more than $200 million of investor money. Insiders claim its flagship product was a "basket case" and company was plagued with management dysfunction. Former staff recall wild Christmas parties with bottomless champagne and topless dancers. Deal that valued Powa at $2.7 billion was a "dud" according to insiders. CEO surrounded himself with "yes men" and allegedly wouldn’t listen to criticism. Rumours that CEO could have saved the company if he’d stepped aside, but refused.