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2.
1) Making claims that are so unrealistic and unbelievably stupid that no is surprised when you fall massively short. Usually occurs to those of limited cognitive abilities i.e. Tucker Max

2) Blowing $12 million of someone else's money
"I borrowed £12 million to make a film that turned out to be the worst comedy in history. The script I wrote was especially poor."

"That's a Tucker Max Fail"
by boatman_eric October 29, 2009
 
1.
Promising a groundbreaking innovative genre changing product; and then having to admit that nobody bought it, or was interested in it. An epic fail Characterized by constantly changing your story, denying that you said something you posted online only a few months before; and responding to substantive criticism by simply claiming that the critic is a loser.
Man, Windows Vista is a total Tucker Max fail!
by mcbeerlovin July 30, 2009