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by portal_narlish
2900 days ago
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Your story sounds too familiar. I worked at a snake oil startup for almost 2 years, essentially a "Theranos" for food (google "vegan mayo scandal" to get the incredible whole story). The CEO dramatically changed the focus and pitch of the company on a dime multiple times just to impress potential investors. The pitch at many points included "AI" (scientists using R to run regression models). Later it evolved into claiming we'd be in the "cellular agriculture" space before anyone else. At best, he was exaggerating and extrapolating minor discoveries. At worst, it was full blown fabrication, total vaporware. And to make things even more frustrating, he was brazenly uninterested in the science (and the input from the actual experts in the room). Everything was about a compelling sales pitch and continuing to buy the company time and funding. I watched multiple waves of incredibly talented scientific and technical staff be sold by the vision then run for the hills after a year or two of working there. My advice is - if your ethics are being compromised, get the hell out of there. |
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The quote is from a Bloomberg article - https://www.bloomberg.com/features/2016-hampton-creek-just-m...
It's just astonishing to read that an company executive told board members that something seemed wrong with financials and the board members didn't immediately look into it. If the people who are supposed to be doing the due diligence aren't doing it, who do they think is going to do it?