I had watched the TV interviews with disgruntled employees of failed start-ups. I had read the message board postings of those freshly ejected from flailing new-economy businesses. They don't tell the interviewer about the Free Lunch Fridays, the fat health benefits or the liberal expense accounts. They fail to mention how seriously their input was valued and the myriad ways in which their ideas were empowered. Instead, they bellow and blame, anxious to share with the world how they've been wronged.
Vivid speculations abound as to what happens after a start-up closes.
Rumors are spread about CEOs who get golden parachutes and entrepreneurs who leave with pocketfuls of cash. And so it was with great trepidation that I faced that Monday morning in October. We three founders had previously nixed the idea of a companywide meeting to make the announcement. The thought of seeing 40 faces simultaneously crumple with disbelief was too much for us to bear. On the other hand, telling people one by one would be even worse.