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.
That’s fine. Seize and sell the home to pay the employees.
who would do that?
I’m guessing/hoping that you meant ‘to pay the employees’ not ‘to pay the employers’ lol! It’s funny how such a tiny typo or autocorrect mishap made it mean kind of the opposite, since overpaying the employer is what got them into this mess.
Ah fuck, I did. Fixed, thanks.