ArsDigita Founder Responds to Closing
An anonymous reader sent in: "Net celebrity and ArsDigita founder Eve Andersson has written a brief history of the firm, documenting its downfall from her point of view. Fascinating reading, and yet another example of how a good thing can go so wrong."
Eve's story was an interesting read, and it's quite similar to the history posted by Greenspun. To make a long story short, greedy VCs drove an otherwise good company straight into the ground. Greenspun's account of the action has been removed, but a cached copy is at archive.org.
If you want to know what really happened, I'd say that a combination of the two journals is likely a good start.
Anyone with an interest in Greenspun's ideas or the ACS should come over to OpenACS.org http://openacs.org where the FULLY GPL OpenACS 3.x and the (currently in late alpha) 4.x are developed and maintained by a talented global developer community and several companies.
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