Most alarmingly, while they were in really early startup mode, they had a very front-heavy team of 'top talent' and loads of telco-pedigreed 'old boys' in the helm. I dropped off the interview process when I was told that to continue, they'll do a psychological profiling by an external consultant and that they do that for all candidates. Really. First, wow, that's expensive. Second, in a startup, the recruiting process should be all about the team and the product, not a standardized test. I told them this.
Now, I almost regret not going in for a bit more, maybe even to work with them for a while, to have a better idea of what all went wrong and if there would've been a way to save the company. Will make for a great case study, no doubt.