So, as promised, here’s an update on what I’m doing next. It’s pretty exciting. [Update: so exciting, in fact, that while I was writing this post, Henry Blodgetscooped me on my own news.]

I’m starting a new company, with financial backing from Tony Hsieh (Zappos,Delivering Happiness) and Michael Arrington’s CrunchFund. We’re not ready to say too much about the specifics right now but — spoiler alert! — it will directly address an issue I’ve written passionately about for both TechCrunch and the Guardian.

It should be an interesting adventure, given I literally wrote the book on start-up failure. With that in mind, I’m going to be writing a start-up diary about the creation of the company. It will appear weekly on The Guardian, with more regular updates here on the blog (and of course on Twitter).

Some other details…

The company will be based in Las Vegas, in support of Tony’s “Downtown Project” which aims to attract innovative and creative companies to downtown LV. Since writing my month-long Vegas diary for the HuffPost, I’ve become addicted to the city and fascinated by Tony’s plans to redevelop/reinvigorate the downtown area. Simply put, I can’t think of a more exciting place in America to start a company.

Having Michael’s backing through CrunchFund is awesome for two reasons. First, I love working with him and am really happy to have the opportunity to do so again so soon after the whole TechCrunch/AOL debacle. And second, half of the money in the CrunchFund comes from AOL. I mean — ha! AOL! I asked Mike if he wanted to comment for this post. He wrote…

“Paul has managed to be successful at failing in almost everything he’s done professionally. It is my sincere hope that his experience, his passion, or just dumb luck will lead him to fail to fail this time.”

Certainly over the past few years I’ve spent a lot of time examining my previous failures, repairing various character flaws (particularly those related to alcohol) and generally trying to figure out how not to be such a total fucking dick. As such, this adventure will either be the culmination of all that work and self-examination, or the final nail in my coffin.

Let’s find out together, shall we?

Wish me luck.