3 ms·
A few things: - They didn't pay contractors for months of work - They gave no hints to anyone that they were running out of funds - They agreed to stop looki
by yawaramin 9y ago
A few things:
- They didn't pay contractors for months of work
- They gave no hints to anyone that they were running out of funds
- They agreed to stop looking for acquisitions while in discussions, without requiring a bailout penalty clause in exchange
- $45m for a lock? Where the heck did it all go? Elon Musk's initial investment in Tesla was $6m in 2004.
- greglindahl 9y agoI have been a founder at 2 startups that were acquired. In both cases there was a "noshop" with no bailout penalty. But the "noshop" didn't say we couldn't look for additional investors. I don't see anything in this writeup that implies that the noshop was unusual.