Shutting it down

It's gonna be long thread. I have been working as lead engineer in a early stage startup since last one year. Founder (20 years exp in Product Management) raised some money from friends & family to start it and but company was running negative from February and he put his money to pay employees salary for March & April and We were hoping for some investment in April but that didn't happen. During May & June, he was looking for funding more aggressively and even after having a good background in academics & top tech work experience in product management, no investor got convinced to invest in it. Our salary for March & April was delayed from actual payroll date by 7 days and 21 days respectively and We were expecting our May salary to be delayed by same period and our company was about to complete one year in first week of July so we had some one year benefits associated as well. But Boom, he invited everyone on call and tells that company will shutting it's operation from next day itself. And he will help us find our new jobs and he doesn't any clarity on pending salary. Although we knew, our company is not in good shape so salary cut or something might be happening soon but didn't expect this. Now, we have to find other jobs and also be unemployed while searching for job and also get exploited by other companies because we will be desperate to find jobs to pay our bills. I think, he did this just before 5-6 days of our one year anniversary just because he doesn't get legally bound to pay our one year benefits. I for sure, not gonna join any early stage in future who doesn't have enough funding. Just wanted to put this story out of my mind. Open for any suggestions you have for me Thank you

Absolutely sad to see the state of the startups, most of them. I am a founder myself, and this is a post with equal disappointment with myself as much as it is for anyone else who relates. Look at all these companies that have raised shit tons of capital, and now make a fraction of money that has been invested in them. The raised money is spent on outsized, non business sense making acquisition costs, only to keep repeating it till the tap runs dry. Then when all stakeholders get bored, the service quality plummets, the employees are fired and whole sectors are admonished as being bad. But, my question is, which sector where large sums of money was invested in early days have come out with flying colours. Fucking nothing ! Edtech, proptech, agritech, ecommerce etc. etc. etc. kuch bhi nahi. Is there any sector where a startup which has raised in the 100s of millions in the first 5 years have actually built a sustainable business at any scale ? Then scaling down, isse acha, scale slowly. The worst part of this whole drama, is pushing the innovation wheel backward and destroying customer sentiment. Isse acha, raise less money inititally, build slowly, and only scale when the market is ready. Artifical growth makes no sense, unless you have a treasure chest that shall never run out. Even in that case, spend the money on assets and not on random acquisition costs, direct or indirect. As founders, let's do better, nahi ?

Hey guys, I have built a personal finance management app to help you manage your bank accounts, mutual funds, stocks and everything all in one place. Don’t have to open a new bank account to have great features like Jupiter/Fi has. Not selling credit cards or loans. The app has a great user experience with haptics and animations. I am trying to manage everything slowly and steadily so launching it in an invite only for now but please do download. Unlike other startups, I am trying to launch as soon as possible while supporting as many banks as possible. Download Now => https://pocketmoney.onelink.me/BrmM/26jxjtk3

If you know anyone please help!!

Thow me any relevant information about raising angel investment from him. The communication is in place and I am sceptical. I wish I could do it bootstrap. The freebie team is not good to build, and looking to raise to hire developers to build fast and iterate. Does anyone know him? What kind of person is he in real life? Is he really supportive? Could you help me with other Angel names, incase needed?

Hi folks, I got laid off today from a YC-backed startup (W23) citing a shift in product focus. Was part of the core team since Oct '21, initially as an intern then later converted to FTE in '22. Got a decent (30%+) increment this year. I was leading the mobile platform but currently, I'm on a notice period. CTO is supportive and helping me via their network. I'm a recent graduate and this is my first time experiencing a layoff. What should I do now? What things should I keep in mind looking for the next opportunity? Also, if you are hiring and looking for a full-stack engineer, do reach out via https://t.me/GrimBeard75

Thanks for all the support you guys have shown for my projects from the ideation stage to development. I have launched Pocket on both Android & iOS and will be sharing the invites as soon as possible just scaling the backend. Download Now => https://getpocket.money Also thanks for the love even for my side project, AdSpace aggregator for popular mobile apps, where I will help marketers to promote their apps on apps like PhonePe, Paytm & Swiggy. Check here => https://adspace.gallery Ask me anything around design and development today, also I will help you out if I can on your project. At the end thanks guys. I am applying for YC and hope to get in. Party for all of if I do get in ❤️🤩

Hey guys, I am building a personal finance management, essentially FinTech in India  to give users, a smart banking experience without any neobanking bullshit . Don’t have to open a new bank account to have great features like a Jupiter has. Not selling credits. And great user experience. The best part to track and manage your finances, I don’t ask for your gmail access or do any SMS scraping so what do you think? 

After securing $66.4 million across seven funding rounds. koo Shuts down 🙂👏