I co-founded a startup with two other individuals, but unfortunately, the venture didn't pan out as expected. Upon my exit, we had a written agreement stipulating that my salary would be covered for the next six months, but one month into the arrangement, it appears that they are unwilling to fulfill this commitment. Thank God, I dodged a bullet. But while I am grateful to have severed ties with individuals whose lack of integrity and honesty prompted my departure, I am now faced with the dilemma of addressing this issue. I am considering sharing my perspective with the venture capital community and potentially on professional platforms like LinkedIn, in order to shed light on the integrity concerns surrounding my former co-founders. Would this be an appropriate course of action? #founders #startup
Depends on the stage! If it’s seed or pre-A, I would do the same what you cofounder did.
Yes. Seed. Follow up, what would you do if you were me ?
Move on, cut your losses wish them well! Idk the startup situation ; they would think the money can be used for business ROI rather than paying you(deadweight).
Great leaders and to be want great leaders never poke things, they just learn and move on
I agree with this. Which is why I wont even ask for the money and Ill move on. But on the other hand, True leaders also illuminate the path with lessons learnt along the way and foster collective growth by sharing their experiences with others. This way I am simply saying my story and giving the world some solid data points that may be helpful to people in the future. (Employees, VCs, etc) ? But while I am typing this, I agree, it can get ugly with all the mud hurling, etc.
Constructive criticism without revealing identity or unique details is acceptable
Talk to your lawyer first. If there are legal remedies you don’t want to mess it up with public statements. Personally, I would skip the social media route. It will just make you look bitter and petty.
Fair. Thanks !!
I would lawyer up and would not do anything that would make them lawyer up. If you agreed in 6 months then it's unprofessional to give less. You gave up something potentially successful, it should have a price. Or just talk with them and get it as share. More risky, but also more fair.
if the startup is dead anyway, then you have nothing to sue for but if you had claim to something and the company is doing well, then fight them for it via legal means. like if they’re magically a series c company now money in the bank and you had a 6 months severance in exchange for you doing all these contractual shit but they didn’t honor their side of the agreement, then go sue them
lol no one cares or will care. you will harm yourself more than any damage you imagine to their reputation. but you can name and share here as a warning to others
If you have a written and signed agreement then you should sue, you could use the money to seed something else
You can narrate the facts without naming anyone, is important for startups to learn. For example in my case in the dot boom days, I had VC who were making money on the side by insisting I do this and that to pay off entities connected to. This is not only with VC, also with government departments giving grants with strings attached. Complete waste of time and felt USED like a used condom after that. Very cautious of VC now especially those young ones. I find older VCs are less brutal.
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