The CEO of Peachy Printer, a company Kickstarted to make a $100 3D printer, announces that ~50% of their funds were "embezzled by their financial manager" to build a house, totaling in a loss of nearly a third of a million dollars

He just wasn't asking the right questions at all, he was way more focused asking questions that made him not look like he was also involved than questions most people would ask in that situation...

He never said one bad thing to the guy at all, whatever that is actually a good thing to try to do if you can but most people would never be able to. He never once asked him about returning the money, or any good questions like how did you expect to get away with this?, etc...

The way he spoke every question he asked seemed like its soul purpose was to try and put all the blame on this dave guy, looked like a classic scape goat... Even if he wasn't directly in on it he is still responsible, he is the CEO of the company, he is supposed to manage things correctly. Sure you can get a financial planner/advisor to help but you still keep an eye on every aspect of the business, SPECIALLY the financial aspect..

The #1 rule of business is business is business, you learn VERY fast to keep family and friendships away from business. I am not saying you can't have a good relationship with coworkers or your staff but don't make decisions differently than you normally would for day to day business because it is a friend or family member. To run a proper business you have to be able to make cut-throat decisions and sometimes let people go no matter what, also a lot of times the way a friend of family is treated hurts the business big time..

Also, when launching a startup you want to plan and expect everything to go as bad as possible and be prepared to react and adapt very quickly to bad situations, when you are starting off it is going to be the most fast paced time for that company, you cannot afford to stagnate at all. Things go good? You get ahead of schedule? still act like you are behind schedule because you probably will hit a hurdle the extra time you bought will help... This is also the most important time to be monitoring every penny you have and planning to use it as best you can. How no one checked their bank account in 2 years except 1 guy is beyond me. I would have weekly projections of what is being spent, what is left, how to save more money. It is VERY easy to start wasting money and run out of money. When you watch stuff like this closely you find out things like the guys are spending 1000$ a week on shitty fast food when you could arrange for a catering company to bring healthy meals for half that price..

Seriously how the fuck did they never check their money situation out even once? It is a startup you need to start planning your budgets and figure out all your costs at this time...

They say they are fucked because he spent 300,000 on a house I would love to see the financial records of every penny they spent I bet you I can find close to or maybe even more than 300,000 waste on the money that actually went into the project..

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