About three years ago I built a prototype of a web application. My partner collected some money from a local angel group so I could quit my job and write code full-time.
My partner was the CEO, tried to do sales and fund raising, and I handled development and customer support.
In about six months, it was clear to me we needed expert leadership. I talked my partner into stepping down as CEO, and we got one of our angel investors to come on as CEO about a year after I came on full time.
The new CEO is about 20 years older than me and a career salesman. He doesn't go out of his way to keep me and my partner informed about decisions he makes. Examples:
When I first quit my job, I set up a modest health insurance plan for us, since I needed one for my wife and my son. The biz paid 25% of the premium. About a year later, I got off this plan once my wife started working. Later I discovered that the new CEO changed the company contribution up to 100% and changed the plan from one of those 80/20 deductible plans to the freakin' rolls royce package.
He hired a friend of his to do SEO (link farming) for us, despite me shouting that the money could be better spent on hiring somebody to write marketing copy.
I could go on all night. Mostly I blame myself. We didn't set any ground rules when we brought him in -- I was just a naive developer, and figured he would be "cool".
The most important stuff to me is seeting the income statement and a balance sheet. Is this within my rights? Is everything up to the CEO?
More generally, has anyone else been through an experience like this?