Run Your Startup Like a Cult 12 years ago
I used to work for a startup that took Peter Thiel's cult culture advice to heart. They paid employees 60-80% of market salary in exchange for the chance to participate in their mission to change an industry. Free food abounded, and there was a cultural expectation to stay at work through dinner.
The result? From what I've seen, this company is still doing well, but around a dozen employees I knew have left. Hopefully they make the compensation changes required to make employees feel respected for their time.