Pandora went bankrupt 1 year in yet employees stayed 2 years w/o pay for founder
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Re: Pandora went bankrupt 1 year in yet employees stayed 2 years w/o pay for founder
#2Founders of struggling startups shouldn't follow Pandora's example, since they could get into a lot of legal trouble - paying your employees less than minimum wage is a violation of federal and state labor laws.
Re: Pandora went bankrupt 1 year in yet employees stayed 2 years w/o pay for founder
#3Founders of struggling startups shouldn't follow Pandora's example, since they could get into a lot of legal trouble - paying your employees less than minimum wage is a violation of federal and state labor laws.
I also don't understand how they where able to go 2 years without pay and still be able to live. You need to pay for rent, food, etc. Something doesn't add up.
Re: Pandora went bankrupt 1 year in yet employees stayed 2 years w/o pay for founder
#4Founders of struggling startups shouldn't follow Pandora's example, since they could get into a lot of legal trouble - paying your employees less than minimum wage is a violation of federal and state labor laws.
I also don't understand how they where able to go 2 years without pay and still be able to live. You need to pay for rent, food, etc. Something doesn't add up.
They ended up getting sued later on. Thankfully, they had the money to afford the legal cost.
I think you're right, they aren't a great example, but many 'big' companies did questionable things that paid off in the end.
Of course, had this not worked everyone would call Tim a moron...but since it worked it's pretty awesome.