₦airaland Forum

Shame!

Didn’t they know what they were doing?

I wouldn’t be surprised if they took too much risk.

Alawọ dudu, afrika to like scam

AllKnowing:
And Jumia?

High time an independent body carried out a proper audit of Nigeria’s one-time e-commerce powerhouse.

Anything happening to Jumia? No wonder my refund of cancelled order has been hanging for almost two weeks 🙃

Kingpele:
Wow in Africa we think self first before anything else...this is while we are here...every good project where greed and selfishness are not removed will surely fail....when will Africans begin to think more of public good more than self service...we most change our mental attitude towards our own country and continent if we ever desire true progress and development

American start up are also the same. Only 1 in 4 start ups succeed. Start ups are 80% scams. Even the venture capitalists that invest know its mostly a scam,but tthey go ahead to invest to promote the scam

AllKnowing:
And Jumia?

High time an independent body carried out a proper audit of Nigeria’s one-time e-commerce powerhouse.

yeah

keeper303:
Anything happening to Jumia? No wonder my refund of cancelled order has been hanging for almost two weeks 🙃

Jummia has been a disaster since its inception. The company has never made a profit.

Someone shld pls invest in my startup. i promise i wont be like boateng abi wetin be hin name.

SoNature:
As reported by WeeTracker, Boampong was earning $50,000 per month and allegedly diverted at least $8 million.


Black man cannot accountably manage huge money. This is why purely black countries are a big mess!

So all the black people that built their businesses are what? Make una try get sense.

Last year, an american owner of one of the largest crypto exchange was arrested for running his company aground and siphoning billions in customers funds and claiming bankruptcy. People like una no shout white people are useless

The name of the start up sef is suspicious,dash

vanitybutiwanti:
Tech boys are the latest yahoo boys. Man was earning $50k per month for a company that was yet to break even?

We read about payday CEO earning $15k a month some weeks back. They are all scammers.

15k a month for CEO is not too much. Normally, some tech companies pay junior developers half of that amount

SoNature:
It's not racism, it's a fact. There's a reason African countries are struggling because of mismanagement, leaving their people wallow in abject penury.

The only language a black man understands is share the money. That what kept this country where it is today.

So all these successful African start ups are what? Are they not Africans? Make una dey try dey get sense

Stephench:
15k a month for CEO is not too much. Normally, some tech companies pay junior developers half of that amount

$15K a month for a company that's not making money? You're clearly ignorant. Ideally, the CEO is supposed to earn the least salary in a start up.

No company pays junior developers $15k a month, not even google or apple, you probably think $15k a month is small money

hmmm

Ah,

Another successful ruse...

Bankrupcy and scam tie the same wrapper..

If you know, you know..

vanitybutiwanti:
$15K a month for a company that's not making money? You're clearly ignorant. Ideally, the CEO is supposed to earn the least salary in a start up.

No company pays junior developers $15k a month, not even google or apple, you probably think $15k a month is small money

It's you that don't know anything. CEO is a position and he's also like an employee that can be sacked any moment. If they sack him, he'll lose out? If project managers, product managers, CTOs and other top management positions are earning up to 10k in a start up, the CEO can conveniently earn 15k as the top position.

TheBTCinvestor:
African scammers....dem go soon launch 2024 Rolls Royce cullinan

Talk no dey your mouth. No be you them sack from Keystone Bank for fraud?

Stephench:
So all these successful African start ups are what? Are they not Africans? Make una dey try dey get sense

Their finances are mostly managed by foreigners

AllKnowing:
And Jumia?

High time an independent body carried out a proper audit of Nigeria’s one-time e-commerce powerhouse.

What has jumia got to do with this?

Kingpele:
Wow in Africa we think self first before anything else...this is while we are here...every good project where greed and selfishness are not removed will surely fail....when will Africans begin to think more of public good more than self service...we most change our mental attitude towards our own country and continent if we ever desire true progress and development

100% correct, reason why today no working refineries, our education is not productive, we consume we don't invents, with all agriculture potential we still buy rice from India and Thailand our previous leaders did very poor jobs

kajog:
Soon no body go dey take blacks start up serious, u raise for business, u begin dey spend am like say company don stand haba

Especially the fintechs.

correctguy101:
Ah,

Another successful ruse...

Bankrupcy and scam tie the same wrapper..

If you know, you know..

OkayDaddy:
Talk no dey your mouth. No be you them sack from Keystone Bank for fraud?

Idiot..carry am go bank go collect money na. Bloody retard. Why was I not arrested or persecuted...mentally deranged lunatic

SoNature:
Their finances are mostly managed by foreigners

Don't be silly

Stephench:
It's you that don't know anything. CEO is a position and he's also like an employee that can be sacked any moment. If they sack him, he'll lose out? If project managers, product managers, CTOs and other top management positions are earning up to 10k in a start up, the CEO can conveniently earn 15k as the top position.

if you were an investor in one of these companies with a high burn rate, will you approve the payment of $15k salary as a board member in a company that was not making money.

You are very ignorant, read founders at work by Jessica Livingston, she's the wife of the founder of y combinator. As a CEO of a company you believe in and have a huge stake in, ideally you're not supposed to earn up to that amount, gratification should be delayed, but knowing that's it's a scam and the company is bound to fail, many of this start up founders just blow investors funds in the air by earning humongous salaries, if you believe that your company is going to break even, considering that when you attain product market fit, you can sell a part or all your equity in the business for a princely sum, why apportion $15k or $50k to yourself every month as salaries, we don't even know about other hidden allowances.

The whole idea behind building a successful business is sacrifice but you don't understand

PoliciaNLand:
myn
Rule 2

Tag Bitter Obi and Maggot Obi

Guyman has played them handicap, used the money to buy benz.

I am not surprised.

vanitybutiwanti:
if you were an investor in one of these companies that had a high burn rate, will you approve the payment of $15k salary as a board member in a company that was not making money.

You are very ignorant, go and read founders at work by Jessica Livingston, she's the wife of the founder of y combinator. As a CEO of a company you believe in and have a huge stake in, ideally you're not supposed to earn up to that amount, gratification should be delayed, but knowing that's it's a scam and the company is bound to fail, many of this start up founders just blow investors funds in the air by earning humongous salaries, if you believe that your company is going to break even, considering that when you attain product market fit, you can sell a part or all your equity in the business for a princely sum, why apportion $15k or $50k to yourself every month as salaries, we don't even know about other hidden allowances.

The whole idea behind building a successful business is sacrifice but you don't understand

You sound like a very poor man to think that 15k is such a huge amount and enough to ground a company that's raised millions of dollars. 15k isn't so much money for a CEO to receive if he so wishes. 50k on the other hand is on the high side.

I know a lot about Y combinator and about start ups. I'm a software engineer that's studied product and project management and also working on start up products, there's nothing you can tell me about start ups as I have experience in the tech world

Stephench:
You sound like a very poor man to think that 15k is such a huge amount and enough to ground a company that's raised millions of dollars. 15k isn't so much money for a CEO to receive if he so wishes. 50k on the other hand is on the high side.

I know a lot about Y combinator and about start ups. I'm a software engineer that's studied product and project management and also working on start up products, there's nothing you can tell me about start ups as I have experience in the tech world

Rich man, I put it to you that you've never earned 15k a month in your life, so because a company raised millions, the founders should blow the money away?

You're not the only person in tech, you don't know anything about the tech you claim to have experience in.

A company is not making money and there's even no clear path to making money, and you justify 15k a month salary, why won't the millions raised finish in a year with your yahoo mindset?

Stephench:
You sound like a very poor man to think that 15k is such a huge amount and enough to ground a company that's raised millions of dollars. 15k isn't so much money for a CEO to receive if he so wishes. 50k on the other hand is on the high side.

I know a lot about Y combinator and about start ups. I'm a software engineer that's studied product and project management and also working on start up products, there's nothing you can tell me about start ups as I have experience in the tech world

You're funny!! The primary goal for the CEO founder should be to grow the company into profitability, not taking huge salaries because he raised money that he can't replace.