In a bit of pickle with the investors for a startup I work at – advice needed

4 pointsby joey-twofacehá 5 anos5 comments

I'm currently working at a startup along with two other cofounders, we're three years in, and a few employees. I find the two other co-founders completely incompetent (our head of marketing/cmo and our ceo). I'm the only woman and I feel like I'm being completely shut down by the CEO, a guy who not only happens to be incredibly intolerable to work with – nearly impossible – but also a massive narcissist. He's the typical know-all guy, cannot/won't accept any advice or criticism. He'll shut down whatever idea I might have, only to come around a few months later suggesting the exact same ideas I proposed and completely neglecting the fact that he got those ideas from me. When I call him out on it and tell him that I brought idea X up a few months ago, he sighs and tells me I focus too much on minor, irrelevant details which is incredibly infuriating. I try to be as professional as possible and brush off all the insults but it's reaching a point of no return.

I am by no means flawless, I know what I'm good at and what I'm not good at, but he's criticising me on my area of expertise and shutting my ideas down that I know could work for us. There's a reason I have my CXO role and he's the CEO - he's great with investors and the face outwards which is just what the investors happen to see, but internally he's a mess and completely incompetent from running our business.

We just received a round 3 funding from our investors and I sense that the investors aren't happy with our performance. Things are going okay, but they're obviously expecting more. Just this week one of investors asked me (and me alone) if we could grab lunch next week - I have a feeling they'll ask me about our lack of progress and the synergy with the other co-founders and I'm not sure how honest I should be. I want to tell them that our ceo is completely incompetent and that we're getting nowhere because he's a giant asshole who refuses to collaborate, but I also don't wanna throw him under the bus and completely ruin the ties with the investors because one day I want to jump ship and I wanna leave on a good note.

How honest should I be with the investor(s)?

5 comments

throway4321há 5 anos

"he sighs and tells me I focus too much on minor, irrelevant details"

The direct response to this is to point out that he was responsible for a large delay in executing the idea and it is not a minor mistake if it takes him that long to understand its impact. Pointing out the impact on the company, an irrefutable common value, is much harder to dismiss.

Just my personal experience, dealing with narcisissts in general require the cold and discipined approach. If they refuse to reciprocate social graces then the only option is to argue from common reality.

Not sure what to suggest about your upcoming lunch meeting but if my advice makes any sense it might be better for you to take a diplomatic stance and continue tough it out against your cofounders.

tannerbrockwellhá 5 anos

You are being setup. You are one of three founders, so you are in the minority. They may be looking for a way to revoke your shares. I would consult an attorney / estate planner and make sure your stake is untouchable. (see Balmer / Gates and Paul Allen for what could happen). The investors want less founder allocation as well so everyone is going to try to get your allocation nullified.

You are in a no-win situation, other than preserving your equity. Any short term victory vs the CEO will be short lived. "Win the battle-Lose the war..." The war here is to walk away with your sweat equity in the company. Being nice, or making someone else be "nice" is not a win.

JesusRoboticshá 5 anos

I don’t know anything about being founder and I pray this isn’t the case. She shouldn’t have to endure an hostile work environment and the company in itself is stupid for not recognizing her struggle because it will be repeated.

joey-twofacehá 5 anos

> Being nice, or making someone else be "nice" is not a win.

It's not about being nice - I just want to be professional and not considered as someone who just rats people out.

Being set up sounds a bit extreme but I appreciate the post, thanks

tannerbrockwellhá 5 anos

Your equity is at stake. You have been warned. Perhaps I did not make myself clear. Meeting with the investors is a mistake, your equity in the company is in jeopardy. If you do not make plans to protect it you will lose. I told you to look at Paul Allen. Same scenario, three founders, one almost squeezed out.