I understand and agree with the view of bad working practices. For me the worrying issue that also struck a nerve were the circumvention of import taxes by flying a jet of beer over to the US!
A lot of this comes down to “founder CEO” experience where founders can struggle to relinquish day to day governance of an organisation over to someone who is more experienced. They still own the business but with a CEO who can do the job, these mistakes will be less likely.
I’m only speaking from experience in startups so this isn’t a blanket issue across all companies.