For years, venture capitalists exuberantly assumed Fab, the online furniture store, could be worth $1 billion, despite mounting evidence that it was difficult to make money off of flash sales. Now TechCrunch reports that Fab may soon be sold to PCH International, an Irish supply chain company, for $15 million "and possibly as much as $50 million."

Fab.com is still fucked. The startup's co-founder Jason Goldberg told TechCrunch that Fab, which once raised $150 million and commanded a $1 billion valuation, was burning $14 million a month before layoffs. Now the decor startup is down to just 25 employees.

There hasn't been a single piece of good news from Fab.com in a very long time. Layoffs, mismanagement, plummeting morale, and executive reshuffles have erased Fab's early rep as a cheery decor startup with tons of money in the bank. Now, the bad can't get much worse: we're hearing Fab is already starting to shut down.

Fab will announce its fourth round of layoffs in 10 months tomorrow. The ecommerce company expects to cut 80 to 90 jobs, all from its headquarters in New York. A spokesperson confirmed the decision after Buzzfeed broke the news of an email from the human resources instructing employees not to come in tomorrow.

When Jerry Maguire sat down in front of his personal computer in 1996 to type out a longform business sext entitled "The Things We Think and Do Not Say: The Future of Our Business," did he know that it would take 18 years for another entrepreneur to replicate that kind of startup straight talk express?

When you've got a proven history of colossal failure as a startup founder, it's best to avoid silly, swaggering videos that make light of this fact—remember, you're playing with someone else's money. But three years ago, Fab.com's creators did exactly that—and with the attitudes you see here, it's no wonder they're failing again.

Reuters reports that Fab.com will lay off "nearly a fifth of its workforce" starting today. The e-commerce company is cutting 101 jobs in total, including 84 people from its New York City headquarters. This is in addition to the 100 employees in Berlin that CEO Jason Goldberg laid off in July.

This isn't how it's supposed to work. If you're Jason Goldberg, with a billion dollar iPhone-case-and-throw-rug company, you get what you want. Don't like coats on the back of chairs? Threaten termination. Want to switch seats in first class? Bribe the person next to you. So why isn't it working?

If you're looking to get into the low-margin, high-turnover world of trendy e-commerce, do we have a large body of copy and pasted text for you: Fab.com is looking for an executive assistant. As long as you don't mind the constant "jokes" from your boss about being fired, you could be perfect.

Yesterday, Bloomberg provided the world with one of the first peeks behind design bauble repository Fab's billion dollar curtains. It looked like, for the people quoted, an occasionally miserable place to work? Now Fab's co-founder has taken to his blog to set things right: he's not a scary boss, just a joker!

Jason Goldberg and Bradford Shellhammer did something rare: they built Fab, a shopping website that's standing out from the other trillion shopping websites. Sales are up, and judging by the pictures they post of their fabulous lives, egos are up too. This is conspicuous consumption at its bubble best.

Looks like a lot of people have been buying wacky stools and canine bow ties: TechCrunch reports that whimsy epicenter Fab.com is taking a new funding round that will put its "value" squarely at one billion dollars.