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Description
The generated index.html contains the following lines in its header:
<script src="../../bower_components/webcomponentsjs/webcomponents-lite.js"></script>
<link rel="import" href="../../elements/codelab.html">
These files are not present in the output directory, and the relative URLs point outside of it, so they generate 404 errors and the page does not render. These should either be present in the output directory (preferable) or be replaced by a full external URL. I worked around the problem by manually changing these lines to the following:
<script src="//cdnjs.cloudflare.com/ajax/libs/webcomponentsjs/2.2.6/webcomponents-bundle.js"></script>
<link rel="import" href="//codelabs.developers.google.com/elements/codelab.html">