Edtech Dillema at '_t_a' - what should my friend do?
A friend is pretty upset about where they are working. They feel a bit cheated with the #edtech company not growing as the founders kept promising them. The company has reversed its initial growth and is now not sure of the next steps.
They were largely into giving charters instead of degrees and their pandemic success has disappeared.
They are wondering if they should cut loss and jump ship before the company shuts. Or should they sink with the team?
The founders are pretty cool guys outside. With a good reputation. But they haven't been able to scale the company and promises have dried up.
I wish I could reveal the name - but I don't want to affect anyone or point at anyone else. But my friend is really traumatised and has lost interest in work and is given new roles and responsibilities every week at '_t_a'. And everyone else is demotivated and upset with how the founders seem to cut their losses by doing secondaries but they can't do a thing! Even the investors don't seem to care much.
My friend and a few others plan to take this up with the founders on Wednesday. And there is an internal revolt going on.
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Hmm Stoa.
if you believe in founders then stick to the company but only for a few months, don't waste too much time, layoffs might happen anyway, so be prepared
They are Doing that since months now. The founders said they are doing crores of revenue per month. But can't pay promised bonus and keep showing failures on employee part to not give bonuses.
Reputation alone doesn't build businesses. Time to jump ship, founders will understand too.
Jump ship. No need to put company or founders before themselves. The work culture etc maybe cool, but they don’t have what it takes to succeed unless a total overhaul happens. I have myself done the mistake of putting early stage companies where I worked at, before my own interests. Big mistake.
My advice would be that you should _**@___ad!
Thank you, everyone. I shared this with my friend, and they're devastated. Many others feel the same. There's no use in waiting and hoping for another round of belief. A mass departure is likely. The atmosphere is dismal. Teams have lost hope and don't believe they'll see any bonuses or fair value from their ESOPs. The founders at S**a aren't being truthful about the situation. They're fixated on competition like Mesa and GrowthX, clinging to their past successes. Even the students sense the negativity. The founders have focused more on their personal brand on X rather than supporting their loyal supporters. They had a great plan but have now lost sight of their vision, prioritizing themselves over others.
It would have been right to just accept defeat rather than live in the past. There seems to be a lot of money that's moved out of the system - to god knows where - but employees don't see much value.
Counting days unless there is some miracle that the founder hope.
This S**a ship is sinking faster than it ever sailed.