Recently met a self described “activist PE-style investor” who is hunting for foundations and projects in this type of position.
He wants to buy them out, find the deep value and resell parts. He said “You wouldn’t believe how many projects aren’t even working anymore. Several CEOs I’ve talked to this summer said some employees haven’t signed in or checked Slack in weeks. And they’re too lazy to fire them. A few want a way out and want to build in Ai but not sure how to exit.”
Graveyard may be 10x bigger than what has been announced 🪦
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Founders with large treasuries who's companies are obviously a failure and lack PMF should not be allowed to slowly grift the treasury via salary to subsidize their lifestyles.
Winding down should be celebrated, and founders should be rewarded for doing the right thing.
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