I'll go one step further; in a followup, the author said "[T]he leadership of the company is excellent" when that is demonstrably not so. Just sticking to the technical management part of things, the leadership of this company has known, and should have realized what it meant, that for that last year they had a key coder who was producing unmaintainable code. For the last half year this guy has been melting down and is now non-functional. Yet he is still a "co-founder".
They don't seem to have then necessary sense of urgency about this emergency ("We're in trouble (in my estimation only) because no startup can afford to have a key person take a dive, and every developer is key.").
This is an existential crisis for the venture and there's probably nothing more important for them to do at the moment than resolving it with a good plan, which I just don't get the impression is happening.