Tech investors said Viddy, an Instagram clone with video, was worth $370 million. The tech press parroted the "Instagram for video" line until their lips chapped, assuming it was true—since when is app hype wrong? Turns out it was! The startup just sold itself for an itty bitty percentage of that figure, because no one used it.

"Jelly" has been a closely guarded secret since it was first teased by Twitter co-founder Biz Stone on April Fools Day. It's managed to pull in hugely prominent investors and awed press, based on literally nothing more than the word "Jelly." Now, it has revealed itself. It's a way to ask your friends questions.

Before Kno, an education startup, was sold for chump change yesterday, it was on its way to the top. Don't take my word for it: just look at all the "smart" "tech" "experts" who poured $100 million and thousands of fawning words into the turkey.