The AI startup landscape has been turbulent. Thinking Machines, which made headlines back in November amid broader industry concerns, exemplifies this volatility. The company is now experiencing significant talent drain as team members depart.

What makes this particularly telling: Thinking Machines initially pursued funding rounds without presenting investors a coherent business plan or financial projections. This lack of transparency spooked many backers, who ultimately passed on the opportunity. Fast forward to today—the situation hasn't improved. The firm still lacks a clear strategic roadmap or operational framework. With no compelling vision in place, retaining talent has become untenable. Mass exits from startups often signal deeper structural issues that no amount of recruitment can fix. For investors tracking this space, it's a reminder of why fundamentals matter: vision, execution capability, and transparency separate sustainable ventures from those destined to implode.