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Don't forget, "actions speak louder than words." Startups do yourself a big favour and steer clear of this underfunded, unprofessional slow motion train wreck.
Bootup sucked young entrepreneurs into their "cool clubhouse" mystique, when there was no substance or cash. The total funds raised by BUL in 2 years is insufficient for even one decent startup - how are they going to fund 11 or 12 companies in any viable way? Don't get sucked into the hype, stay clear of this bullsh*t.
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Its never too late to stand up and admit your mistakes.
True, though the impact is somewhat tempered when only done to save your own skin.
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But will this guys take the money now, or even trust anyone connected with them?
Well, at least they can say they did their best to help. Currently, I don't think they aren't going all out to help these guys.
Bootup Lab's reputation has still been badly damaged. An entrepreneur's commitment and sacrifice to their business is very serious and they took a very nonchalant approach to handling this situation until the PR blew up. Of course Danny is sorry now. I'm sure Bootup will continue to do fine with finding new startups since entrepreneurs in need of cash are always in high supply. But competent entrepreneurs look for co…
Obviously there were screw-ups. But it's possible a major factor was someone else fell through on their investment commitment to Bootup Labs. They hinted at that, though quite rightly Bootup hasn't specifically named who fell through on them. They've taken the hit themselves. Depending on what the inside story is, some might respect them for that. When trying to make something new happen, you almost have to express p…
Why is this guy any more trustworthy today after issuing an artfully written apology, that was clealry crafted by a PR professional skilled in crisis management communications? Don't forget, "actions speak louder than words." Startups do yourself a big favour and steer clear of this underfunded, unprofessional slow motion train wreck.
Maybe you don't want your incubator/investor to behave like a startup, though.
Bootuplabs have egg all over their faces and pretty much deserve to be ignored by any serious startup.
An apology doesn't go far enough, if half of what I read about this is true they should send those guys some money to cover the costs they made to move to Vancouver. The thing they're probably really sorry about is that it got as much play as it did, I don't think they expected a not-so-spectacular startup to get that kind of PR on being axed, more so than they probably would have gotten during a launch.
At this point, I certainly couldn't recommend that a startup from outside of Vancouver move here to work with Bootup Labs, but for a startup in Vancouver -- treading carefully and making sure that money is in the bank and that legal agreements don't say anything evil -- I think Bootup Labs might still be an option.
And if Bootup Labs has a few years of success stories, well, that might just redeem them.