Ask HN: Why did your startup fail and what did you learn?
CEO would disappear for months at a time, with the promise of returning with capital.  We never really knew where he went, and he wouldn’t let anyone else talk to investors (including me, who was CTO).  Eventually he stopped paying us, but promised that the money was just tied up in the parent company set up in the caymans.<p>After 2 months of not paying myself or any other employees, the COO and I drainked the remainder of the US account and paid out as much of what was owed as we could to the employees before helping them find jobs elsewhere.  I didn’t get any of the money I was owed and was facing pretty bad debt, but the experience was enough of a resume boost that I didn’t have a problem making it up in my signing bonus.<p>What I learned is that a title doesn’t grant you any control, and that if someone can’t be transparent with their inner circle of friends and colleagues (in this case cofounders), then they have no business leading a company.<p>Also leaned to not fuck with the cartels.