The numbers don't sound crazy... if you think of it as a well-established business.<p>But... it wasn't.<p>The rent was silly (South of the river in Southwark, or even in the Clerkenwell gap West of the City is far cheaper). The salaries sound like a mix of expensive contractors and averagely paid FTEs.<p>For a startup, those two figures alone can and should have been halved without impacting anything that the business did achieve.<p>That they didn't do this does strike me as negligent. Where is the bootstrapping? Where is the close eye on the finances? Where is the "only hire at a rate that allows us to maintain a £nk revenue per FTE"?<p>That's the reckless part, presuming that the tap of funding was never going to close on them.