I might be having a brain fart right now, but I'd just about swear I've read a similar story before. Can anybody back me up, or am I just mistaken?
They thought they were joining an accelerator – instead they lost their startups
41–50 of 167 posts
Re: They thought they were joining an accelerator – instead they lost their startups
#42What a psychopath. To anyone who may be in this kind of situation, trust your instincts and leave . It will not get better. You will find other, better opportunities elsewhere. Best lesson I ever learned was from a high level exec that had just started at the company where I worked. He quit in 2 weeks. Impressively, he did it without drama or really even causing bad will - he just told the CEO it wasn't a match, and…
I once worked at a place where an employee started their first day at the start of the shift. They mumbled their way through it to lunch where they never returned. That's the shortest I've personally seen. Absolutely not a c-suite role or anything management related though.
I think you're the winner here. The shortest I've seen is someone who left after their first day.
Re: They thought they were joining an accelerator – instead they lost their startups
#43Earlier quoted context omitted.
I once worked at a place where an employee started their first day at the start of the shift. They mumbled their way through it to lunch where they never returned. That's the shortest I've personally seen. Absolutely not a c-suite role or anything management related though.
I think you're the winner here. The shortest I've seen is someone who left after their first day.
I usually stay long enough to get the company mug.
Re: They thought they were joining an accelerator – instead they lost their startups
#44Add TechStars to the list of accelerators to be avoided at all costs. They make an investment in your company on terms they can claw back the money at any time. Most of these accelerators provide little to no value, in my experience. Unless you need to know what “product market fit” means. Hilarious.
Any source to your avoid TechStars advice?
This piece goes into some detail: https://www.founderscoop.com/2024/what-went-wrong-at-techsta.... An erudite and incisive autopsy of a disintegrating accelerator.
I'm no longer in the startup scene so I can't vouch for its facts, however.
Re: They thought they were joining an accelerator – instead they lost their startups
#45What a psychopath. To anyone who may be in this kind of situation, trust your instincts and leave . It will not get better. You will find other, better opportunities elsewhere. Best lesson I ever learned was from a high level exec that had just started at the company where I worked. He quit in 2 weeks. Impressively, he did it without drama or really even causing bad will - he just told the CEO it wasn't a match, and…
Years ago I took a dev role at a very well known UK organisation, a prestigious brand supposedly good for the career. Their systems turned out to be smoke and mirrors of the most braindead kind. One and a half days in I'd seen enough and I quit. If you know, you know.
This kind of hinting is worse than useless. "If you know, you know" is obnoxious. If you mean Autonomy you should say so, and if you don't then your post is just misleading and confusing.
Re: They thought they were joining an accelerator – instead they lost their startups
#46> So she paid a $7,500 deposit and was all set to join Newchip when a founder friend told her to “never pay for introductions.” Hopefully everyone knows this here, but if you paid for an introduction it's a negative signal: just cold email. That being said, I'll make intros for only $6,500 and no warrants.
Don't listen to this charlatan. For only $6,499 I'll introduce you to a chap who won't charge you a cent over $6,498 for an introduction.
Re: They thought they were joining an accelerator – instead they lost their startups
#47Add TechStars to the list of accelerators to be avoided at all costs. They make an investment in your company on terms they can claw back the money at any time. Most of these accelerators provide little to no value, in my experience. Unless you need to know what “product market fit” means. Hilarious.
> They make an investment in your company on terms they can claw back the money at any time
It is a loan then, not an investment.
Re: They thought they were joining an accelerator – instead they lost their startups
#48What a fucking mess. I got tons and tons of outreach from these guys for my company. It was pretty well written didn’t come off as overtly scammy unless you already know to run screaming from an accelerator or any other “investor” that wants you to give them money up front.
If you don't know that what are you doing trying to run a business?
Do you know if lawyers should be paid up front? How about a newly hired employee, do they get a deposit to ensure they will show up on the first day? How about a landlord for your first office? If you make things and sell them to a store does the store pay up front? Can they return them to you if they don’t sell them? Can you get a refund on a hotel if you don’t stay there? How about a flight you don’t take, or a rental car you never pick up?
And so on. The world is complicated. How did you learn all that stuff and when?
Re: They thought they were joining an accelerator – instead they lost their startups
#49Anybody else nodding along like...
"mhm mhm Austin...makes sense..."
"I wonder when the Florida scams are gonna start hitting?"
Re: They thought they were joining an accelerator – instead they lost their startups
#50Earlier quoted context omitted.
Any source to your avoid TechStars advice?
This piece goes into some detail: https://www.founderscoop.com/2024/what-went-wrong-at-techsta... . An erudite and incisive autopsy of a disintegrating accelerator. I'm no longer in the startup scene so I can't vouch for its facts, however.
> https://www.founderscoop.com/2024/what-went-wrong-at-techsta...
Thank you, it's what I'm looking for to understand why.