from Hacker News

Three Cofounders of $2B Fintech Pipe Resign Abruptly, Citing Inexperience

by JaakkoP on 11/24/22, 3:49 AM with 9 comments

• by d23 on 11/24/22, 2:36 PM

  Did these guys kill someone together and someone get it on tape or something?

• by klyrs on 11/24/22, 7:10 AM

  I've seen people calling SBF and Caroline Ellison "kids." Scandals surround Biden's "child" and Trump's "children." These "kids" are stepping back as it becomes clear that they're teetering on the brink of a collapsing economy, possibly because they were overconfident about bitcoin.

  Common theme: these are all grown-ass adults of 30+ years. I'll be honest, I have trouble believing that I'm an adult and I'm over 40. I hate to say it, but... was Gen X the last generation of adults?

• by halestock on 11/24/22, 6:59 AM

  > It lets other businesses such as software companies sell their future recurring revenue to large institutional investors for cash the borrowers can spend immediately.

  Add some crypto to the mix and that's a recipe for disaster.

• by SilverBirch on 11/24/22, 11:35 AM

  I know that SV has a soft spot for repeat founders, I wonder if this sort of behaviour will reflect badly on them the next time they try and raise funds. Either more is going to come out about fraud/terrible decisions, of these guys gave up absurdly easily.

• by rogerkirkness on 11/24/22, 3:59 AM

  I keep hearing about structural issues in fintechs and all of this FTX, Pipe, Evolve news is not helping.

• by nivertech on 11/24/22, 8:21 AM

  What is Chief Business Officer?

  Also, does anyone have a typical org chat of the early stage or unicorn fintech startup?