Key Points

  • Robot startup Foundation has failed to pay employees since missing its Oct. 30 payroll, angering some workers after its CEO borrowed $4.6 million from the firm last year to buy a luxury home, according to people familiar with the matter.
  • CEO and co-founder Sankaet Pathak is Foundation's sole board member, raising governance concerns among prospective investors.
  • Foundation's widely reported $24 million in Pentagon contracts actually stems from its 2024 acquisition of Boardwalk Robotics, which held some existing government research contracts, the people said.
  • Pathak's previous company, Synapse, collapsed in 2024, leaving thousands of customers without access to deposits. Pathak reportedly took loans from Synapse as it neared bankruptcy.
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[–] 128 points 21 hours ago (3 children)

So, let me be clear...

My employer will refuse even a salary advance (as in, getting it 2-3 days, maybe a week early), but the bossman can walk away with a "loan" of the company's entire liquidity?

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