Well this is another discussion. I can do just that separately. But it doesn't seem fair to the employees who stay and believe the company's vaporware of making value and have their equity worth millions in an indefinite future time?
> But it doesn't seem fair to the employees who stay and believe the company's vaporware of making value and have their equity worth millions in an indefinite future time
If there is litterally not a single line of code in 10 years and nobody does anything all day but drink kombucha and play foosball then they already know...
How do the employees not know, if the situation is so bad for so long? They know and they still choose to stay. So they are not the OP’s responsibility.
Best option is to just leave. OP can still talk to the employees that he is friendly with - maybe that will help them take the situation seriously
Are those other employees getting paid? Then there's nothing to worry about.
Equity is a gamble and should be treated as such. Most jobs don't contribute any value in the grand scheme of things beyond shareholder value, so that's not a loss either. If anything it's a learning opportunity to not trust startup founders so blindly.
But if you want to warn your coworkers out of comradery, do so in a way that isn't simply telling them "I think our boss is defrauding investors".