Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Ask HN: Should I inform investors that my startup employer is a scam?

news.ycombinator.com

Post reply on HN
Print view View original

1–10 of 112 posts

Ask HN: Should I inform investors that my startup employer is a scam?

#1

Post by cordialthank »

So I was hired in this startup a year ago. Its aim is to make a SaaS. It's been painfully obvious that nothing gets done about this, the only projects we work on are bizarre random demos or small open source projects on github for "marketing".

The company has not had a series A funding yet, and was almost bankrupting some months ago until a VC gave them "some" millions. Meanwhile, there's still no product, and the company pays for worldwide company trips for no purpose (no conferences or anything), pays for life coaches and frequent global flights for the CEO and who knows what else.

When I say "no product" I literally mean it. It only exists on a powerpoint slide without a single line of code implemented.

The worst part is this startup is 5-7 years old, and has gone through the bankrupt -> saved last minute by investor cycle more than one time.

Average employee stay is 6-14 months. During my employment three managers left the company, and four engineers. There's no documentation about anything because people come and go after they see there's no future in this company.

Should I anonymously inform investors that my startup employer is a scam, and if yes, how should I approach it?

Re: Ask HN: Should I inform investors that my startup employer is a scam?

#3

Post by cordialthank »

goncalo-r wrote: post #2

I would just find another job, let them crash and burn on their own

Well this is another discussion. I can do just that separately. But it doesn't seem fair to the employees who stay and believe the company's vaporware of making value and have their equity worth millions in an indefinite future time?

Re: Ask HN: Should I inform investors that my startup employer is a scam?

#4

Post by throwawaywork0 »

Unless you want to do more business specifically with said investors, I would not recommend this. Whistle blowers almost always suffer and in this situation you have no moral obligation to the public but rather to some private figures. If I were you, I'd enjoy having an easy job. That said, is your company hiring?

Re: Ask HN: Should I inform investors that my startup employer is a scam?

#8

Post by psyclobe »

Go ahead and try it, I assure you that will be the end of your job there.

Listen to others here, just leave. You will not break into that fuct up situation, you cannot improve it, no one will listen to you, and if you blow the whistle you'll be done.

Re: Ask HN: Should I inform investors that my startup employer is a scam?

#10

Post by cordialthank »

jmkni wrote: post #6

So many questions! What do you do then? What do the managers do? The engineers?? How have they survived for over 5 years??

Everyone leaves fast except for some juniors who stay. I will leave as well. At the moment there are no managers, they are trying to hire new ones.
Post reply on HN