Q: My startup is nearing the end of its runway – and I found out my CEO has been taking money from the company. What should I do?

Unfortunately, this is a little more common than you think.

The very best CEOs never “take money from the company” in my experience.

But I’m guessing in at least 5% of venture-backed start-ups, some founder does something wrong here.  Pays himself back for “expenses”.  Takes “a loan”.  Whatever.  There’s some paper justification, but it is stealing.

A few thousand dollars, though if that’s all it is, isn’t material.  You may be wrong.  And small numbers are a wash anyway.  I’m confident as a CEO, I had many tens of thousands of expenses I forgot to expense.  A few nickels don’t matter.

But if it’s true, it’s someone you probably don’t want to work for.

Get on AngelList and find something new.


View original question on quora

Related Posts

Pin It on Pinterest

Share This