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
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.