For the definition of "wantrepreneur," look no further than the founders of Ustream.tv, a lifecasting Web-video startup you've likely never heard of — probably for lack of nude lesbians. Here's what you should know about Ustream: Twice in its short history, an investor in the company has felt compelled to take over.

Near the end of a Stirr mixer in San Francisco on Tuesday, I ran into Salim Ismail, the head of Yahoo Brickhouse and our newest Silicon Valley Tool, though he'd yet to get the prize for being one of the Bay Area's most annoying executives when we met. I noticed he had the name of his startup, Confabb, on his nametag…

If you think we're tough on Valley wantrepreneurs in New York, you should hear them in L.A. A SoCal tipster writes in: