> 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 If there is litterally not a single line of code in 10 years and nobody does anything all day but drink kombucha and play foosball then they already know...
Didn't stress on this point, but CEO is delusional and megalomaniac. They think their plan is going to work and they keep hiring people for stuff that supposedly will build up the SaaS. They are emotionally abusive to dissidents and people who disagree. It's a lost cause. I'm not poorly informed, otherwise I wouldn't be making this post. After everyone left I am in the most senior engineer position (lead) and there w…
It doesn't sound like a scam to me. It seems there is intent to actually build something, just poor execution and bad management possibly?
I'd also be worried about a defamation suit if the OP misinterpreted the situation. I mean, if I were a CEO of a struggling "startup" and somebody went around claiming I was scamming investors only because I was doing a bad job at building products, I'd definitely be talking to my lawyers about defamation...