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 onand find something new.