4 ms·
Oh wow, another startup has to lay people off. Why should we care every time a volatile organization realizes that they're not making money and can't afford to
by thatmiddleway 13y ago
Oh wow, another startup has to lay people off. Why should we care every time a volatile organization realizes that they're not making money and can't afford to pay people? Isn't that the nature of working at startups?
- vladimirralev 13y agoThese guys wasted a lot of money that could have been used to fund 100s of other companies. This should make the headlines as a case study, what went wrong and how to avoid it in the future. When a high profile well-funded startup goes south, there is a lesson to be learned for many people.
- pbreit 13y agoIt would probably take over $100m to fund "100s of other companies". The company is not going south. It brought in top-tier talent (Barry McCarthy ex-Netflix, namely) who reasonably concluded the company wasn't structured properly from a personnel standpoint. This doesn't appear to be another Color considering the company has plenty of cash, some quality executives and a functional product in a huge, well-known category (payments).
- kloncks 13y agoPerhaps he was talking about examples like YC funding "100s of companies" (500? 600?) with less than half of what Clinkle has raised.
- pbreit 13y agoThen that's a total mis-understanding of what YC is and how it compares to venture capital. And no one has really come very close to replicating YC despite quite a few attempts.