That is hindsight bias. Put yourself in Andrew's shoes in 2010. Daily deals space was exploding and it seemed he made wise decision. Nobody knows future. But I appreciate Andrew for sticking to his guns and declining the offer.
The startup CEO has to be a cheerleader and biggest believer. And at the same time, the biggest realist, the most aware of the downside risks. There are times when you have to push the kool-aid aside.
"Nobody knows future."
History is littered with startups that didn't exit in frothy markets, then cratered. Timing is everything. Andrew's advisors should have been aware of the downside risks, should have had some experience with previous business cycles. IMHO they gave bad advice.
