The sordid tale of Gizmondo is one of my favorite tales of excess from the industry. They managed to blow through £160,000,000 (which is almost...Dr. Evil Voice...three hundred MILLION dollars according to one currency converter I consulted) in 18 months.
I know reading British papers instantly marks me as pretentious--which I am--but I was skimming the Times and found this article covering the rise and fall of the company. It's something right out of the 80s, glorious in its excesses.