Startup is running out of money, future unclear, looking for general advice/motivation
I've been working at a AI startup for around 4 months now, it ran out of money and cannot pay salaries anymore. I feel it's a pity the tool we build can do some amazing things, new customer onboarded and other customer uses it daily. Also our teamwork is in flow, we can do a ton of work in short time.
The company hasn't secured new funding and there's a breakup happening with previous investor. Creating a new company..
Previous company was in Europe now the new company is a US entity
From the lead I hear that there's much interest in funding us, but we need a cap table and to be US entity, which just happened. But they've already been looking for funding for over 1 month and haven't gotten the required funding.
This is my first startup and not sure what this means, It would be a pity if we dissolved now, cause team is great, there's some user traction, and our product are becoming pretty awesome.
![Mid-Level Software Engineer [SDE 2] at Amazon company logo](/_next/image/?url=https%3A%2F%2Ffirebasestorage.googleapis.com%2Fv0%2Fb%2Ftech-career-growth.appspot.com%2Fo%2Fcompany_logos%252Famazon_logo.jpg%3Falt%3Dmedia%26token%3Dff5f2302-08be-43bc-b7b1-d381ba508d99&w=48&q=75){kind=logo}
Discussion
(4 comments)- 3
17 days agoI just work here @ RobinhoodCopium doesn't pay bills.
- 2
17 days agoAI/ML Eng @ Series C startupJust leave. There's plenty of other AI startups with funding. It looks like your team couldn't find customers before the lights went out. That's too bad. Dust yourself off and go find something else to do
- 217 days agoTech Lead/Manager at Meta, Pinterest, Kosei
there's a breakup happening with previous investor
This sounds rough. Assuming the previous investor was on the cap table, it can be very messy, if not impossible, to get them off.
And once your cap table is screwed up, future investors will be very hesitant to put additional money in.
Given that you're not directly involved in the fundraising process, the best thing you can do is start looking for a new job. While you're still employed there, build relationships with your talented coworkers and write down your major accomplishments and stories.
Those stories will be valuable as you explain this chapter of your career in the future :)
- 1
16 days agoThoughtful TarodactylTaro CommunityLook for a new job. Also think if you want to be in the model building business with open source llama and deepseak, or want to be in the wrapper/shim side.
