I wish Loic and his team the best of luck. It's never easy to lay friends and colleagues off, and I know that it's taken an emotional toll on Loic.
This is a reminder that even somebody of Loic's stature (he created LeWeb and is a very successful angel investor) can fail. Hard work, great product, good timing and luck -- you need them all to succeed.
Why so much sympathy for Loic, and not for people being laid off? Loic will be fine. He didn't burn his own cash, he burned VC and angel money. And given that he already has success track record, his reputation will not be damaged too much.
I hope those 18 guys were working for market salary, and not for some equity/options schema.
Otherwise, it's 18 more people that learned the hard way that it doesn't pay taking risks and salary sacrifice if your are not the one that makes decisions, and will avoid working for startups in the future.
Comments
I wish Loic and his team the best of luck. It's never easy to lay friends and colleagues off, and I know that it's taken an emotional toll on Loic.
This is a reminder that even somebody of Loic's stature (he created LeWeb and is a very successful angel investor) can fail. Hard work, great product, good timing and luck -- you need them all to succeed.
Why so much sympathy for Loic, and not for people being laid off? Loic will be fine. He didn't burn his own cash, he burned VC and angel money. And given that he already has success track record, his reputation will not be damaged too much.
I hope those 18 guys were working for market salary, and not for some equity/options schema.
Otherwise, it's 18 more people that learned the hard way that it doesn't pay taking risks and salary sacrifice if your are not the one that makes decisions, and will avoid working for startups in the future.