If you have ever wanted to stop and look at the grisly aftermath of a train wreck, then this fairly detailed story on Polygon has just what you need. In it former employees detail an erratic Steve Perlman, former CEO on the cloud-based game streaming service OnLive. Besides describing at great length Steve Perlman's erratic behavior, ill treatment of employees, and his penchant for over micro-managing, the article details a number of opportunities that could have saved the company.
But the most telling part is the next-to-last paragraph explaining why – in the blink of an eye – Steve Perlman went from continuing to be the OnLive CEO to being replaced by someone else earlier this week:
The question is what happens now. The new OnLive says it hired nearly half the staff back and intends to continue the business as if nothing happens, but employees dispute that, stating that only around 60 employees got rehired, and a number of them only on 30-day contracts. Sources tell us that critical departments got scuttled, including the teams responsible for onboarding new games. It seemed like the company brought on a skeleton crew to keep the ship running while it preps the company for a sale. Then, something strange occurred. Employees convinced the new owner, Lauder Partners, to let Steve Perlman go and put employee-friendly former head of operations Charlie Jablonski in charge.
You can check out the article here. There are some hard lessons here that executives helming startups might want to pay attention to.