It’s the exposure of their vulnerable self. It’s commendable because we can learn from them.
It seems like they are warning us to not let angel investors trick us into thinking we can hang with them in later rounds of funding that will very likely be necessary.
It’s also a warning to put your loved ones first because business isn’t guaranteed. One likely regrets ending relationships after flaking out because one was greedier than one was smart.
If we take this story at face value, this was a recap. It’s basically the same as shutting the company down and starting over. It’s not ideal, but this only happens if everyone agrees the company is basically worth $0. Remember, the other investors also lost all their money, not just him.
If you’re going to say it’s your startup and put founder in your title, you also have to be responsible for it succeeding. You don’t get to have it both ways.
EDIT: parent comment was edited to say it’s him being vulnerable. I don’t think so; it’s him farming engagement for marketing.
It seems like they are warning us to not let angel investors trick us into thinking we can hang with them in later rounds of funding that will very likely be necessary. It’s also a warning to put your loved ones first because business isn’t guaranteed. One likely regrets ending relationships after flaking out because one was greedier than one was smart.