After an upgrade from 2.1.4 to 3 item does not start up and cannot start up after that.

Required information for bugs. I probably can't help you unless you include this:

• iTerm2 version 2.1.4
• OS version El-Capitan
• Attach ~/Library/Preferences/com.googlecode.iterm2.plist here <== does not exist
• Attach a debug log (https://iterm2.com/debuglog)