What are some unethical thngs your funded company founders and core nepotism team.hve done??
Ex my ex company founder hired wife, sister, and friends as board of director giving 4 seats to the family itself + fancy designations like cfo, coo cmo and ceo. All took 5 lakhs per month each as salary which means 20 lakhs going home from VC funded money per month. 1 million fundraise goes home in about 3 - 4 years used to set up paralell businesses, etc and no money made in core business
My ex company lied to investors about starting shop in a new country. They even went to the heights of taking a google street view building and photoshopping their logo on the building and called it their office
Some high roller customers wanted to pay in black money for online Rummy.
The founder bought a naive company run by a 19yo in another country and got them to take the cash and give them balance in online Rummy. Sounds fine except now the black money can be withdrawn from the platform and look legit (aka money laundering)
After they make 10s of millions of dollars the 19yo business owner eventually gets arrested, put away for years. And the India founder claims ignorance, washes hands, moves to Singapore, retires on all the $$$
All were useless and used to work from home at their pace and time and never come to office but if anyone asked for leave or wfh they used to have problem. One used to come to office at 1130 am and leave at 4pm but take attendance of all and check if all came at 9am and left by 6 through punch in machine crm system or cctv. They never worked and never promoted people as they had the designations. Randomly increased anyone's salary by doubling it, etc and loosely handled VC money
I was speaking to an ex-colleague and he mentioned how my previous employer, a lending startup, has been intentionally over-reporting disbursal numbers and under-reporting delinquencies in portfolio.
They conveniently chuck the NBFC par...
Has anyone worked with this startup?
Heard it's air pollution product doesn't work but it passed IIT tests. My brothers' salaries are not paid, and their founder is more interested in discipline and OKR vs. sales. He pays nepo kids and...
Investors behave like Milords, exploit founders, make money on the side, and when things go south throw them under the bus.
