IPhoto can't start at all

Question

iPhoto doesn’t start at all. After clicking the icon, I directly get the problem report.
Starting with alt-cmd pressed also does not help.
In ‘pictures’ dir there is no iPhoto library.
Re-installing didn’t help at all…
Here the top part of the report.
Process:         iPhoto [2239]
Path: /Applications/iPhoto.app/Contents/MacOS/iPhoto
Identifier:      com.apple.iPhoto
Version:         9.3.2 (9.3.2)
Build Info:      iPhotoProject-670063000000000~2
App Item ID:     408981381
App External ID: 9487287
Code Type:       X86 (Native)
Parent Process:  launchd [151]
User ID:         501
Date/Time:       2012-08-21 09:45:28.869 +0200
OS Version:      Mac OS X 10.8 (12A269)
Report Version:  10
Interval Since Last Report:          178178 sec
Crashes Since Last Report:           43
Per-App Interval Since Last Report:  22 sec
Per-App Crashes Since Last Report:   39
Anonymous UUID:                      3AC6F0C9-0790-475A-BE21-AF7D632358E0
Crashed Thread:  0 Dispatch queue: com.apple.main-thread
Exception Type:  EXC_BAD_ACCESS (SIGBUS)
Exception Codes: KERN_PROTECTION_FAILURE at 0x00000000ac801000
VM Regions Near 0xac801000:
    __OBJC 00000000ac800000-00000000ac801000 [ 4K] rw-/rwx SM=PRV /usr/lib/libobjc.A.dylib
--> Submap 00000000ac801000-00000000ac802000          r-x/rwx process-only submap
    __IMPORT               00000000ac801000-00000000ac802000 [    4K] rw-/rw- SM=COW  /usr/lib/libobjc.A.dylib
Thread 0 Crashed:: Dispatch queue: com.apple.main-thread
0   ???                                  0xac801000 objc_assign_ivar + 0
1   libobjc.A.dylib                0x96a31d47 object_setIvar + 353
2   libobjc.A.dylib                0x96a31bda object_setInstanceVariable + 80
3   com.apple.AppKit                     0x91464461 -[NSNibOutletConnector establishConnection] + 486
4   com.apple.AppKit                     0x9143615f -[NSIBObjectData nibInstantiateWithOwner:topLevelObjects:] + 1002
5   com.apple.AppKit                     0x91414762 loadNib + 373
6   com.apple.AppKit                     0x91413d84 +[NSBundle(NSNibLoading) _loadNibFile:nameTable:withZone:ownerBundle:] + 819
7   com.apple.AppKit                     0x9141395f -[NSBundle(NSNibLoading) loadNibNamed:owner:topLevelObjects:] + 256
8   com.apple.AppKit                     0x914136ec +[NSBundle(NSNibLoading) loadNibNamed:owner:] + 418
9   com.apple.AppKit                     0x9140f688 NSApplicationMain + 447
10  com.apple.iPhoto                     0x00010f40 0x1000 + 65344
11  com.apple.iPhoto                     0x00010409 0x1000 + 62473

Answer 1

Fortunately, Google Chrome crashes in exactly the same way, and the geniuses at Google have devised a solution that does not require reinstalling the entire operating system.  The same steps that they recommend also work for fixing iPhoto.
Be sure that you are logged in as a user with administrative privileges (System Preferences → Users & Groups → Current User → ☑ Allow user to administer this computer).
Launch the Terminal application.
Inside the Terminal, run sudo update_dyld_shared_cache -force
When prompted, enter your password.
After the command completes (in about a minute), restart the computer.