When a venture capital-funded startup ignores valid claims of sexism, racism and retaliation, it should serve as a warning to employees that they are more than likely being deceived on myriad other fronts, and are being fed inconsistent and contradictory information about what’s expected of them and what the company wants to achieve. The confusion is created by design. Bad employers will purposely create an environment of elitism or exclusionary behavior giving the employee the false sense that they’re more talented than their peers or their competition in the industry. This lulls employees into thinking they are unique, not knowing that the employers create such as environment to keep employees in line so that they can eventually insult, demean, threaten and intimidate employees into engaging in unethical and or illegal activity. This is for one purpose: profits. The venture capitalist’s return on investment (ROI) is usually eight to 10 times the the initial investment in roughly three to five years.
- CEnO — as in there’s NO way this person should be a CEO — is a grossly under-qualified, easily manipulated venture capital-funded startup CEO, willing to break the law on behalf of investors while threatening and intimidating employees or anyone else who challenges fraud or refuses to “drink the Kool-Aid.” Those threats and intimidation often extend to the point of termination or industry burning of the employee who dares speak up.
All that’s left is for is for the VCs to carefully select an under-qualified, easily manipulated CEO, who is so grateful and eager to prove they can get the investor their ROI quickly that they’re willing execute fraud on their behalf. Those CEOs will, in turn, hire equally under-qualified executives to ensure the plan is executed properly.
The plan is through false projections give the appearance of hypergrowth to as means to overinflate the valuation which is fraud.
As part of this manipulation, startups will knowingly and willfully omit factual information, allowing them to make decisions without employees, consumers or even the government from knowing critical details. This is all carefully crafted at the venture capital (VC) level, where executives of these firms arrogantly boast about the number of board positions they hold on startups — people I refer to as #BoardWhores. Thomas Prescott, Chairman of the EarLens Board since January 2016, was quick to come to the defense of the company’s CEO Bill Facteau during his recent federal criminal trial that resulted in 10 convictions, arrogantly, when leaving the stand walking past the jury, Prescott gave Facteau a “thumbs up”.
Hank Plain, an EarLens Board member, and an Acclarent “board member on the deal committee that successfully negotiated the $785 million dollar acquisition of Acclarent by Johnson & Johnson,” also came to the defense of EarLens CEO Bill Facteau during his criminal trial that resulted in 10 convictions. Plain boasted under direct questioning from Leo Cunningham of Wilson, Sonsini, Goodrich and Rosati, that he (Plain) held roughly 18 board positions throughout his career and testified that he made millions on the Acclarent acquisition. Plain also testified he currently has between $9-10 million in venture capital invested in EarLens.
The venture capital-funded startup bubble popped around 2008 due to fraud. Tech, medtech or medical device, the products may differ, but the fundamental elements of fraudulently achieving sales are the same; however, injured employees, consumers & patients, shareholders are just noticing now.
New Enterprise Associates (NEA) is self-described as the world’s largest venture capital firm.
Unethical & illegal venture capital funded fraud is encouraged, replicated, and continue to escalate until it’s forced accountable: either legally or exposing the harmful negative truth & creating public pressure to create positive change
Uninjured employees, consumers, patients, shareholders are unaware of venture capital-funded fraud, but it’s not their fault, it’s the fault of the media, blinded by the billions, or in some cases their ad revenue dictates what airs. The Wall Street Journal, for instance, appears to be the only major newspaper outlet, Johnson & Johnson sends press releases to, which manipulates the information we all receive because other major outlets won’t cite competition. Unlike when there’s a medical device recall, which is released by FDA, or if cases are in federal court, unethical companies can make back-door deals with other unethical companies at great expense to the rest of us.
New Enterprise Associates (NEA), the world’s largest venture capital firm who, in part with Johnson & Johnson Development Corporation (JJDC), Delphi Ventures, Versant Ventures, and Meritech Capital Partners funded ExploraMed incubated startup Acclarent who was later purchased by JJDC‘s parent company Johnson & Johnson & their subsidiary Ethicon for $785 million in January 2010.
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