The Times has written up an excellent chronology of the whole Gizmondo mess, which tells the tale of dot-com excesses, foolish businessmen, and greed. Great stuff.
Not to be a douche, but we always said Gizmondo was doomed. There was just something not quite right about that company—their hubris, their lackluster product, their inability to deliver on anything, ever. The resulting crash, both literally and figuratively, made it abundantly clear Gizmondo was rotten to the core. Take this little tid-bit, for example: