What happens to startup CEOs when the company fails? I’m guessing many (maybe even most) of them didn’t (couldn’t) sell secondaries, so they don’t have a lot of money, asides their salaries which typically aren’t that much. In a ZIRP environment, I can see how they just start a new company and raise funds but that’s no longer easy. What happens to them in this environment? E.g. the CEO of convoy?
They need to learn from Adam Neumann
There was a small window to do that and many CEOs missed it (or don’t have the opportunity to play the game). Adam N happened in a zirp environment. SoftBank isn’t dolling money out anymore.
CEO of a failed startup is now CEO of Indeed. Indeed is now circling the drain. They fail up as long as they come from rich families like the dolt running Indeed.
Obviously not a lot of money to go around if the thing really fails. With a big startup like Convoy, he likely built some strong relationships with some big VCs, and some former industry executives, so he’ll be fine. Depending on the startup, they can get looks at Director roles. Somewhat of an aside, I’ve had some friends Seed Round with big VCs, and their lead investors will do things like pay for a “small office lease” that is really a fancy 2 bedroom luxury apartment that the team uses as a meetup spot, so the CEO effectively had a baller 8-10k apartment covered and could save up.
It's no different compared to failed VPs/Directors they all have something in common: selling the vision, playing politics, managing people there is always demand for these skills
Depends on if they can sell their experience in interview