3 ms·
This is going to be used as a case study of why not to let founders take cash off the table in early rounds for years to come.
by nedwin 11y ago
This is going to be used as a case study of why not to let founders take cash off the table in early rounds for years to come.
- tommoor 11y agoI believe it was highly criticized even at the time...
- dguaraglia 11y agoTo be honest, the investors knew what they were signing at the time. If they didn't do their due diligence to figure out how the application was going to make any money, they deserve what they had coming for them. That's the kind of shitty "let's throw money out the window, in case we hit one successful startup" attitude that'll get us in a bubble.
- Frondo 11y agoFounders acting in their own self-interest? That sounds like capitalism in action to me.
- CPLX 11y agoThis is hardly unprecedented, it has happened for oversubscribed companies that subsequently imploded multiple times in the last few years.