> I am very sad to make this decision. It’s a consequence of the approach that Matt and I took in scaling the company over the last year, and we take full responsibility for the impact that will have on the lives of our departing team members. Why do CEO's always say this empty nonsense. If you accept responsibility, you accept consequences - what consequences is Geoff Schmidt going to be facing? Hurt feelings? Give…
At the same time, everyone in the startup game needs to know that this is a fairly likely outcome. It's just not as safe as being at an institution that can weather the storm. I tell potential hires explicitly that this can fail, and that there's a runway, and that it's uncertain. I've seen so many places try to sell people that it's just kicking ass all the way to the bank. So, when a CEO makes this kind of statemen…
The entire industry has had layoffs, regardless of size. In fact, in my experience there's plenty of startups that are still growing and hiring the laid off talent from the big institutions. Apollo was not one of those companies, but it doesn't seem like it being a startup had any impact.