This inevitable outcome of the herd mentality of investors. Just one look at the history books should have told potential investors what they needed to know to nix this deal.
When investments like these go bad it's bad news for everyone, not just the investors.
On the bright side, the David Bowie tribute is priceless.
It was one of Britain's brightest tech start-ups, praised by David Cameron, and a rare British "unicorn" - a company valued at over $1bn (£694m) before floating on a stock market. Its dynamic founder Dan Wagner claimed last year that his business was worth $2.7bn (£1.9bn) and had signed a deal in China with "limitless" potential. But last month Powa Technologies collapsed into administration - and it rapidly became clear that it was more akin to a lame old donkey than a unicorn. Its demise has raised questions about the health of London's much vaunted fintech (financial technology) sector, and about the wisdom of sky-high valuations for unproven businesses.