The company was doomed the moment they started hiring at unreasonable pace because VC $$$. I have seen the same at other startups I worked at: VC pump $$$ into the company, the CEO starts bragging on doubling headcount every other quarter; people look at each other asking themselves what all this new people are going to do. Engineering now spend most of the time interviewing rather than building and delivering awesome products.
Eventually growth slows down, customers are upset because the product sucks and here we are.
Who is to blame? The CEO along with the board. So a change of CEO might be the only thing saving the company.
> The company was doomed the moment they started hiring at unreasonable pace
History disagrees. And the only reason the company exists in the first place is because of VC money. Don't join a startup if you don't want the risks associated with a startup.
> Who is to blame?
No one, because humans can't predict the future. Why are you so eager to see people punished? It's so easy to be critical when you're not the one actually responsible for building and running a company. This entire thread is an example of "tell me you know nothing about running a business without saying you know nothing about running a business".
I recently had to fire my landscaper, so based on this logic I should probably sell my house so that I can "take responsibility".
Eventually growth slows down, customers are upset because the product sucks and here we are.
Who is to blame? The CEO along with the board. So a change of CEO might be the only thing saving the company.