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I think the fact that at it sounds like you weren't getting the accounts (at least cash flow and bank balances) so that you could see the lack of runway coming
by josephlord 12y ago
I think the fact that at it sounds like you weren't getting the accounts (at least cash flow and bank balances) so that you could see the lack of runway coming is quite alarming and the top lesson I would want to learn from your experience would be to demand such information.
- oncletom 12y agoRead that comment (https://news.ycombinator.com/item?id=7701017 https://news.ycombinator.com/item?id=7701017), it gives more insights on why it was "impossible" to get access to them. I agree this should be a core principle: no access, no involvement. Except that when it has been decided not to give access to them, the company configuration prevented any action against the will of the CEO. I should have resigned. This would have led to the resignation of the other engineers and the death of the project. I did not want that at first.
- josephlord 12y agoIt sounded from your original article like you were a director, in the UK I believe directors have personal legal responsibilities to ensure that the company is solvent. Without access to the accounts I would resign as a director even if I stayed as a technical lead or at least would get individual legal advice. I'm sure that you will much wiser next time, I just want to help you maximise the benefit and was focused on an unambiguous red flag rather than the harder to spot issue of convincing people who shouldn't be trusted (and/or are out of their depth).