So he is missing a Wozniak, I guess.

No, he's missing a Wozniak and a Jobs.

But there was nothing in the article that gives me the feeling he is anything like Steve Jobs. He's just phenomenal at the flip, and that says a lot about what the Silicon Valley VC's that invested in Color are after.

He flips companies. That's nice and everything, but it's not innovation. He's essentially a parasite.

"Parasite" is unfair. You still need guys like him to agitate, to unsettle and disrupt the marketplace. Color was a pretty innovative idea, it was just terribly executed both in technology and marketing.

Yeah, that's unfair...I retract that. But I wouldn't suggest for a second that you don't need "guys like him" i.e. great salespeople who can sell ice to eskimos. That's why I find his arrogance so over the top insofar as he compares himself to Jobs and other innovators.

This is still a valuable skill. Not the only one but a valuable one. Who wants to tie their money or career to someone who can't get you paid on the other side?

Absolutely true. However the article leans toward framing him as a visionary capable of superhuman feats:

  "IBM didn't survive the PC, none of the PC guys survived
  the web, and I don't think any of the web guys will 
  survive the post-PC world,"

Bill Nguyen is implying that Color.com will do what IBM, Microsoft, and Facebook can't, and survive the post-pc world. And there is no evidence he is capable of this since he flipped every company he started.

No, he is implying some startup will do what IBM, Microsoft and Facebook can't. Historically speaking, this is a decent analogy. After all, Facebook did what Microsoft and Google couldn't. Apple did what IBM couldn't.

Why even mention it if he doesn't think that Color could be the disruptive company that can make that leap?

I doubt he's saying "Yeah a bunch of companies are going to fail at this, including Color, but hey throw cash at us anyway". That doesn't make for a good sell at all.

Isn't the job of spinster to imply that? :-)