What is the best way to handle this so that I minimize damage to my career and reputation?
I must say, after reading the introduction, that was not the question I was expecting.
My advice is simple: do the right thing for others. Treat them well. That includes making sure money owed to employees is paid. People get enough notice to fall back on their feet. You should have been transparent with them already from the beginning of the startup, so they should all know that cash is very tight. Don't just tell them 2 weeks before the day you lay them off.
If you treat others well, you'll be fine. Silcion Valley is a very small world.
On the other hand, if your only concern is your own career, maybe your current employees already know your true nature. Hard to know either way.
I must say, after reading the introduction, that was not the question I was expecting.
My advice is simple: do the right thing for others. Treat them well. That includes making sure money owed to employees is paid. People get enough notice to fall back on their feet. You should have been transparent with them already from the beginning of the startup, so they should all know that cash is very tight. Don't just tell them 2 weeks before the day you lay them off.
If you treat others well, you'll be fine. Silcion Valley is a very small world.
On the other hand, if your only concern is your own career, maybe your current employees already know your true nature. Hard to know either way.