First Look Media, a startup funded by eBay founder Pierre Omidyar, has forgotten the primary rule of startups: to be nimble and flexible. Despite a $250 million investment, the company is experiencing internal strife, with many staff members leaving due to dissatisfaction with the management style. The company’s rigid structure is in stark contrast to the flexible, adaptable nature required of startups.

The departure of John Cook, editor-in-chief of The Intercept, one of First Look Media’s digital magazines, is a clear indication of the company’s issues. His exit follows the departure of Matt Taibbi, who left before the launch of his digital magazine, Racket. These exits suggest a lack of faith in the company’s direction and leadership.

First Look Media’s troubles are rooted in its failure to embrace the startup mentality of adaptability and flexibility. Instead, it has clung to a traditional media model. This rigid approach has led to internal discord and high-profile departures, which could potentially harm the company’s reputation and future prospects.

The company’s struggles offer a cautionary tale for other startups: remain flexible, adapt to changes, and listen to your team. Ignoring these principles can lead to internal strife, loss of key personnel, and ultimately, failure.

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