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“The money belongs to the business.”

To the business. Not to the guy personally to put all investors (!) money into his private pocket.

Like said before by someone else, it could be considered fraud. In my country it’s actually fraud. You are defrauding your shareholders/debtors of the money they legally get by law when the company closes.

When a company closes, the shareholders get the remaining assets split; if you know you are closing next week and you take out all money/assets you are a thief and should go to jail.

Plus he will be known and branded as gold digger who, at the end before the ship sinks, takes all money into his private account.

OP, you are kicking yourself out of any future investments with your behavior and get blacklisted.

I suggest invest some of it in buying out the founders that abandoned ship (not necessarily give them money but paying lawyers to draft up agreements) and pivot/rebrand.

If you need ideas and help developing them, you can contact http://www.vlamp.com, a product studio.

Make sure you let team/investors know you are taking a break.

2] Hopefully you will have better idea and have found atleast 1 good cofounder. If you have a different idea, launch a cheap MVP after coming back.

3] If the MVP works tell your investors about the new idea and get them on board that you will downsize and pivot to this new idea.

If the MVP doesnt work, be transparent to your investors. Tell them you are broke and they can find you some good job (You learn a lot doing a startup, trust me you are valuable then you think) . Dont burn bridges. Be Transparent. Just dont rush things. and TAKE a BREAK.

^ This guy is an idea guy. Hire him and pivot!

what if he can’t come up with any ideas ( ? )

OK two things.

To the original commenter:

This guy is BROKE, and you want him to not pay salaries? Are you effin kidding me? He NEEDS to take a damn salary, a sustaining one at least.

To the commenter who says the money belongs to the business:

Yes it does, it doesn’t belong to the founder to milk it. The founder is a director and a director’s job is to protect the shareholders. If he milks it for himself its called unjust enrichment and he CAN be sued. It just depends on whether the amount is worth suing over.

That all said, a pivot is definitely a good idea, just pay yourself a damn salary, its a win-win for you. The investors get another roll of the dice, you make some money finally.