Its never too late to stand up and admit your mistakes.

Indeed. Normally when a person or company makes a highly visible mistake they make sure it doesn't happen again. I think that Danny's defensiveness was a lot of what fueled the bad PR, since it drove expectations that this could happen again. An explicit commitment that it won't is a big improvement and exactly what was needed.

True, though the impact is somewhat tempered when only done to save your own skin.

Too True, and the apology was professionally written/reviewed by a PR expert with crisis management experience. Anyone wanting to start a business here is so naive they can't discern fact from fiction. Given the young age and limited experience of most of the entrepreneurs this is like fishing in a barrel. Be smart, act on facts, not fiction.