Has anyone ever whisteblowed to VCs about founders?
Seed stage startup. Have a situation where founders are divided in their time spent between their existing family business and the new startup that was funded by VCs. There was barely anything happening here, minimum R&D budget for maturing our product. Engineers hands are tied, they can barely make a prototype and test. Oh there’s even more. All departments including HR do not have a budget. All cash is under a lock and key by the founders. Oh wait, there’s even more! The founders are married. And they wear too many hats, they even call themselves with multiple role names on paper. For eg, one person is both a CEO and CTO. But barely does anything for one of the role hat he’s chosen to wear. -_-
Seriously, how are VCs comfortable with this? Wouldn’t there be a conflict of interest? How do VCs even do their due diligence and ensure that the money is spent rightly on maturing the product and the success of the startup?
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Harsh reality is in majority of the cases, VCs know about this and choose to stay put because everyone is busy selling fancy projected growth numbers of their portfolio until it comes crashing down.
Ah. Yes. In their shoes, one startup failing won’t make much of a dent
Be selfish, what do you REALLY gain by whistle blowing? Maybe it might satisfy your ego but not really your life or career or wealth.
All the covering comments and thoughts this post has got has helped realize that it’s not worth it. Best to find a way out of this shithole.
WhistleBlowing on them would be like adding more complexities and challenges for your career, life etc.
So I would suggest finding a job at some other company and let this one go.
Even after spending at least a month or two at the new job if you feel like you still need to whistleblow then you can but ensure to do it in a 100 percent anonymous manner only.
Yeah, but I think I’ve done more than enough by getting all the attention this post gained. 😂
I got terminated for all the false reasons fun my previous startup, i could very well bitch about my manager or founder to the investors but I chose not to cuz it won't hamper my career in a very bad way. I'm no where close to what these guys have achieved in the valley and bad mouthing someone really doesn't "add value" to you or the investors. Maybe they might get some internal perspective and understand that you are still livid but it tells them that you can't move on in life and they might end up having bad opinions about you. No whistleblower has ever had an easy journey being in the public light or even anonymously.
Yeah, you’re right. I guess all we can do publish stories like this. 🙃
No point of whistle blowing. Do your job take your salary. Or start your own startup
