Seems to me like the last sentence explains it all:
The part that Neary left out in his letter? According to sources after Pugh departed he gave employees an ultimatum: 24 hours to decide if they were in or out for the long haul, even if that meant no more salary without a new fundraise, which seemed unlikely. Given that binary choice, they elected to abandon ship.
The part that Neary left out in his letter? According to sources after Pugh departed he gave employees an ultimatum: 24 hours to decide if they were in or out for the long haul, even if that meant no more salary without a new fundraise, which seemed unlikely. Given that binary choice, they elected to abandon ship.