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.
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.