Ever worked for a startup? This is what "move fast, break things" does.

This happens at established firms as often as startups.

I have but only at competent ones. Nothing this flagrantly bad.

I’ve seen not quite this bad but definitely in the same order of magnitude

I disagree, incompetance is rampant. I worked for a healthcare company who kept it's data at a Dell security center. One of their people ran a SQL script that deleted millions of billing records. They informed us later that they could not recover the data because every 24 hours they were writing over the one backup they kept. We had missed the window by a few hours.

You take shortcuts. Saying you’ll fix it later. Which never happens because you’re busy on the next feature that is riddled with the next set of shortcuts.

It happens.

Let me introduce you to every early stage startup in the world. Plenty of mature companies also have completely abysmal security practices

I wish I could disclose some of the incompetence I’ve encountered to persuade you otherwise. The reason there aren’t breaches like this of nearly all systems isn’t because most systems are better protected, it’s because no one’s interest (or they’re not interested for the purposes of sharing).

You'd be surprised how incompetent people can be when it comes to security. Nothing i have heard so far would really surprise me for a small startup with very rapid growth.

A career in looking at the guts of companies later I can assure that is very much possible.