3 ms·

And yet, it's as simple as money ran out. They never turned a profit, investors ran out, the last round of funding was a loan with strings attached that led to

And yet, it's as simple as money ran out. They never turned a profit, investors ran out, the last round of funding was a loan with strings attached that led to a bunch of cost cutting and other poor decisions that explain the poor service quality. A few staff guessed it might close 3 weeks ago at best though everything was very uncertain, but most of the accountants probably didn't see this coming either. source: I know a few former employees.

toomuchtodo 2y ago
There’s an accountant shortage, so I imagine it wasn’t hard for those folks to prepare to bail, if they did.
bryanrasmussen 2y ago
>but most of the accountants probably didn't see this coming either. I would expect this was the kind of thing an accountant should see coming though.
- BehindBlueEyes 2y ago
  Not sure if sarcasm, but in case it is not: in theory accountants could see this coming but most benchmates were junior book keepers, with no visibility into their employer's financials.
  - datavirtue 2y ago
    If I can't see the books I move on. The only reason people hide books is because they are bad. You can't expect a bunch of mushrooms to help you grow a company. Employees deserve to keep tabs on the financial health of the company. Last company I was at was an ESOP. Talk about a scam. They are under no obligation to let employees monitor the health of their "retirement plan." It's a tax shelter for business owners who want to retire. Coming from a company that had open books I had assumed that ESOP members would have some rights, nope. Having left that shit show for a startup I'm getting regular financial health and funding updates constantly. Don't be a mushroom.
    - cutemonster 2y ago
      > If I can't see the books I move on Are you saying that as a software developer, or you work with other things?

3 ms·

And yet, it's as simple as money ran out. They never turned a profit, investors ran out, the last round of funding was a loan with strings attached that led to

by BehindBlueEyes 2y ago

toomuchtodo 2y ago
There’s an accountant shortage, so I imagine it wasn’t hard for those folks to prepare to bail, if they did.
bryanrasmussen 2y ago
>but most of the accountants probably didn't see this coming either. I would expect this was the kind of thing an accountant should see coming though.
- BehindBlueEyes 2y ago
  Not sure if sarcasm, but in case it is not: in theory accountants could see this coming but most benchmates were junior book keepers, with no visibility into their employer's financials.
  - datavirtue 2y ago
    If I can't see the books I move on. The only reason people hide books is because they are bad. You can't expect a bunch of mushrooms to help you grow a company. Employees deserve to keep tabs on the financial health of the company. Last company I was at was an ESOP. Talk about a scam. They are under no obligation to let employees monitor the health of their "retirement plan." It's a tax shelter for business owners who want to retire. Coming from a company that had open books I had assumed that ESOP members would have some rights, nope. Having left that shit show for a startup I'm getting regular financial health and funding updates constantly. Don't be a mushroom.
    - cutemonster 2y ago
      > If I can't see the books I move on Are you saying that as a software developer, or you work with other things?