I used to work at a Robotics startup in Brazil.
Talent was top notch - I’d say as good as any big Bay Area tech company (SWE, Mech & Financial).
Founder was the main investor - he didn’t understand SW, treated SWEs & Mech Engs as if he was making them a favor for giving them a job and paid below market.
At one point the guy fired the CFO for authorizing buying a cheap Split AC for our little 10ppl office in the middle of the summer while everyone was sweating their life’s away (he was off somewhere on vacation on his boat).
But the main takeaway for me was: corruption. The startup was doing something legitimately exciting and innovative but still the founder thought it was wise to sneak in a contract with his buddy at the state government’s office (super shady bidding process) to have them as a first client.
Eventually the law caught up with it and the whole thing became a legal mess.
+ Equipment import taxes were ridiculous!
Oh yeah, and we had to buy our own coffee!!!!! Sacrilegious!
But the main takeaway for me was: corruption. The startup was doing something legitimately exciting and innovative but still the founder thought it was wise to sneak in a contract with his buddy at the state government’s office (super shady bidding process) to have them as a first client. Eventually the law caught up with it and the whole thing became a legal mess. + Equipment import taxes were ridiculous!
Oh yeah, and we had to buy our own coffee!!!!! Sacrilegious!