Why the Australian CEO of a San Francisco startup hub just fired his entire team, including himself

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[1] Australian founder and CEO of StartupHouse, Elias Bizannes, wanted to fix the issues within the startup so he dismissed himself and the rest of his team at the San Francisco-based incubator and co-working space.

[2] After taking on a holiday, Bizannes gathered the team to bring in ‘good news’, enabling COO Karolis Karalevicius to take over as CEO – who will then decide who will be rehired.

[3] With all the changes, Bizannes took on the role of executive chairman with the main responsibility of StartupHouse’s future and its expansions.

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[Source]  Australian Information Technology News – Why the Australian CEO of a San Francisco startup hub just fired his entire team, including himself