Scott Rogowsky, the former host of HQ Trivia on Jan. 28, 2019. Photo: Dominik Bindl/Getty Images

The death of the company behind HQ Trivia is a reminder of just how hard it is to win in the hit-driven games business.

Why it matters: Those seeking to invest in or value game startups would be wise to remember this the next time a company based upon a single premise turns briefly red-hot.

  • HQ announced Friday it was shutting down, laying off its remaining 25 employees.

Flashback: HQ Trivia was once the talk of mobile games, drawing hundreds of thousands of people to its nightly contests, luring celebrity hosts and sponsors and raising $15 million in a funding round that valued the company at $100 million.

Yes, but: The premise of a live game show with cash prizes was initially alluring. But people found victory brought only small-change rewards, and the novelty playing live wore off before the company could come up with another big hit.

  • The company suffered another blow when CEO (and co-founder of both HQ and Vine) Colin Kroll died in December 2018, at age 35, of an apparent drug overdose.

Our thought bubble: It's hard to turn a hit into a franchise, and harder still to turn a franchise into a sustainable company.

Go deeper: Digital game spending hit a record $109 billion in 2019

Go deeper

Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,393,591 — Total deaths: 950,344— Total recoveries: 20,679,272Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,722,699 — Total deaths: 198,484 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.