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Post on Medial

Anonymous

Stealth • 4m

Startup Shuts Operation on 1 day notice It's gonna be long thread. I have been working as lead engineer in a early stage startup since last one year. Founder (20 years exp in Product Management) raised some money from friends & family to start

Anonymous

Stealth • 4m

Continuing here.. But Boom, he invited everyone on call and tells that company will shutting it's operation from next day itself. And he will help us find our new jobs and he doesn't any clarity on pending salary. Although we knew, our company is not in good shape so salary cut or something might be happening soon but didn't expect this. Now, we have to find other jobs and also be unemployed while searching for job and also get exploited by other companies because we will be desperate to find jobs to pay our bills. I think, he did this just before 5-6 days of our one year anniversary just because he doesn't get legally bound to pay our one year benefits. I for sure, not gonna join any early stage in future who doesn't have enough funding. Just wanted to put this story out of my mind. Open for any suggestions you have for me Thank you

3 replies9 likes

Replies (3)

Shuvam

Stealth • 4m

How much money in the bank would mean a startu has enough funding?

1 replies

Arjun S

Stealth • 4m

Look, when I started my company..I had 3 people working for me. Presently I grew the firm to 24 people between 2021 till date. Helped grow another firm to 250+ people during the same timeline. Managed both profitably as well without any external funding. But just to tell you the reality of it , I was never able to take much in for myself during the first 2 years. Its tough being a founder...But there are some founders out there with cool ideas who are in their early stages...Dont write them off coz one guy messed it up for you. Those founders need a trustworthy team around them...Just give them a chance, even if they dont have funding. Look at the fundamentals of their idea, their business model and finally, their grit to get things done. Decide once you have these things in order.

0 replies2 likes

Anonymous 1

Stealth • 4m

Shit. It’s scary. I’m in an early stage startup right now. And yeah these kinds of things are something that I expect that happen but not this instant. So what is the process like how is the founder helping you guys out to get new jobs?

1 replies1 like

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