mirandakatz writes: The Xfund started with a bold idea and ended with one of its founders banished from the country. At Backchannel, Jessi Hempel has the definitive story of what really happened after Patrick Chung and Hugo Van Vuuren went into business together, and how a promising venture went so wrong. It's an incredibly complex story, and no one agrees on the basic facts: As Hempel writes, 'What's clear is that from the start, they had clashing visions for what they were building. The tale of Van Vuuren and Chung's partnership and its demise offers a window into how power really works in Silicon Valley, where personal relationships are the most important currency and, in order to protect capital, investors are more likely to place their bets on people they know and trust.'
Read more of this story at Slashdot.