DD,
re: shepherding a young tech company to profitability is a slower process than many investors seem to think it is
As a survivor of a couple of new ventures, I agree with you. Conversely, screwing a young tech company into the ground can be a very slow, painful process as well. I am not addressing this at Transmeta per se, but at new ventures in general.
The same can also be said of more established firms who have lost their way.