Chapter 22 - CrossWave After Daniel
Victor Shaw became permanent CEO.
Megan remained CFO.
The recapitalization was painful.
Seventeen layoffs.
Several executives took pay cuts.
Daniel’s founder myth disappeared from website.
Not erased from history.
He founded company.
That fact remained.
Three years later Atlas Industrial Software acquired CrossWave for thirty-eight million dollars.
Employees received retention packages.
Some investors lost money.
Some recovered.
Daniel’s remaining diluted shares generated approximately $1.9 million gross before liens, taxes, restitution obligations, and legal claims.
A significant portion went toward Meridian restitution.
That mattered.
People sometimes asked if I regretted withdrawing five million because company eventually became successful.
No.
A successful outcome does not legalize fraudulent process.
Could my investment have earned return?
Maybe.
Would I have wanted ownership under Daniel’s governance?
No.
CrossWave survived because board removed problem, restructured, and found capital with actual consent.
Not because I saved it.
Not because I destroyed it.
May you like
Companies are more than founders.
That was one of best things to come from mess.
