Re:Sell your startup for half a billion and get nothing (2021)
by slavetologic on Tuesday March 05, 2024 @01:01PM
(#39606987)
Sometimes they get sidelined by vcs, but you can't see it from lower levels. Other times they started something else, and have insider information that the company will not work
I suspect these founders find some way to extract as much as possible from their company after raising funds.
Without naming names, I've seen a startup go boom (raise huge money and be valued at 3x that huge money), then all the senior leadership disappear: moved out of state, only show up for pre-recorded town halls (that used to be live), no longer a part of engineering meetings, cancelling department meetings, etc.
That went on for a couple years until the founder minimized their position in the company.
I don't understand how that could happen unless that founder extracted what they wanted and were just riding the ride rather than marching towards IPO.