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Wow, they're really clutching at straws. The legal fees were presumably spent setting up a Canadian corporation. What use is that to the founders now? Similarly
by reitzensteinm 17y ago
Wow, they're really clutching at straws. The legal fees were presumably spent setting up a Canadian corporation. What use is that to the founders now? Similarly, the rent being paid - the cost of throwing all your stuff out (and presumably having to buy it again later) will be for most people way higher than a few months worth of rent.
It's often too easy to jump to the wrong conclusion... but I'm struggling to see a decent explanation for this. And anything less than a full apology is a huge red flag.
- gonepostal 17y agoCorrect me if I am reading too much into their response. But it sounds like they were at the tail end of closing a round of financing. The investors didn't like some of the startups in the current cohort so they made it a requirement that Bootup cut them from the program before the new round closed. So instead of honoring their word they choose to take the money. Very poor business practice IMO.
- reitzensteinm 17y agoI should clarify that by "decent explanation" I meant one that would make me think, "oh, that's reasonable", not merely one that fits the evidence!
- realitycheques 17y ago"closing a round" could be code for didn't have the money when the intake offer was made and couldn't raise the money for all the startups... so picked and kicked to stay afloat.
- dustingetz 17y agoseems if they didn't take the money, everyone loses