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Eric Trump-backed robot soldier startup can’t pay staff after founder borrowed $4.6 million from company to buy home (www.cnbc.com)

submitted 2 hours ago by GolfFoxtrotLima@sh.itjust.works to c/technology@lemmy.world

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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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[–] cruseo@piefed.world 53 points 2 hours ago* (2 children)

See, these assholes don’t even see this as thievery or fraud. This prick believes he is entitled to that money, and how dare you - or anyone - judge him for his actions!

Fuck this guy, and everyone like him who thinks that their whimsical and capricious wants and desires should take immediate priority over the basic needs of literally every other living thing in the universe.

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