4 ms·
That article reveals a story that's one facepalm after another. An example of the worst "rockstar founder" attitude backed by apparently clueless investors. >
by Twirrim 11y ago
That article reveals a story that's one facepalm after another. An example of the worst "rockstar founder" attitude backed by apparently clueless investors.
> Powa occupied two floors of the prestigious Heron Tower at the heart of the city of London, and had equally lavish accommodation in Hong Kong, New York and across Europe.
Before having established proper cash flow?! When all their "sales" were just "letters of intent". How were investors even remotely convinced it was a good deal?
> One of the more printable comments is this: "You don't employ intelligent, highly experienced people to treat them like something unpleasant under your shoe by telling them to forget everything they know, as your way isn't working"
I wonder what the staff turnover was like? The only time I worked for a CEO who treated his employees with that little respect, they had a 90%/2 years turnover. No one was prepared to stick around and support someone who would send motivational emails saying "Ask not what your company can do for you, ask what you can do for the company" as the CEO was screwing up sales deals. I always wondered if he'd ever figure it out. Even burned my bridge there trying to help him understand what was going on during the exit interview.
> According to several former employees, at one Christmas bash in Mayfair, strippers were hired to perform, to the discomfort of many present.
Grew up idolising the worst aspects of Yuppie culture?
> "While the company was going under, he's fooling around in a photography studio pretending to be Ziggy Stardust. The guy is a narcissistic idiot."
Certainly sounds like it...
- rm_-rf_slash 11y agoJust curious, how did things end up at the company you worked at? I had a similar experience with a startup out of college. On reflection, I should have noticed that among all the photos on the "mentioned in the news" billboard, the only familiar faces were the founders...
- Twirrim 11y agoStill trundling along in a dead end race-to-the-bottom market. New CEO now, not sure what happened to the old one given he was also the founder, presumably he's in more of a board role or something. Unsurprisingly given the high turnover rate, I soon had no contacts left in the company and stopped paying attention. Without exception, everyone I knew has moved on to better things.
- rm_-rf_slash 11y agoSounds eeriely similar to my own situation, without the CEO turnover. Godspeed.
- rasz_pl 11y agowow, Mr Wagner is a real life The IT Crowd Douglas Reynholm https://youtu.be/oye9AmOdsZc?t=5m https://youtu.be/oye9AmOdsZc?t=5m
- TheJCExperience 11y agospot on, https://www.youtube.com/watch?list=PLx7Rlmjo3yfMU_VIx2wSk4TylfWllxE-z&v=sWhI5YK-_No https://www.youtube.com/watch?list=PLx7Rlmjo3yfMU_VIx2wSk4Ty...
- jacquesm 11y ago> The only time I worked for a CEO who treated his employees with that little respect, they had a 90%/2 years turnover. I know of one company that did better than that, 100% in one year. And they're of course blaming the employees for that, lack of loyalty and so on. Fairly incredible.
- klenwell 11y agoFooling around in photography studio pretending to be Ziggy Stardust? I had to RTFA just to see this. Was not disappointed. The caption is delivered with perfect English understatement: > One member of staff described Mr Wagner as an "idiot"
- derptron 11y agoGetting strippers is the worst aspect of Yuppie culture? Are the SJWs invading HN now?