>> the main investors/advisors (from the 220k friends/family/fools round) pretty much feel like it's time to pull the plug
Given your statement above, there's really no question beyond this point. You promised riches and success to family and friends and it is not currently looking like you will do that, and their message is "stop please before its all gone". Do so.
If you still have money and it is from family and friends then stop right now - on Monday (tomorrow) and give back all that you can. If you burn the rest of that cash then for the rest of your life those relationships will exist for you only in the light of that money. It would be different if the money you had was from an angel or VC who are taking calculated risks.
Your family and friends relationships are worth infinitely more than any startup.
You should instantly kill all business costs, go get a job, and continue marketing what you have built on the side.
Did he promise "riches and success" to family and friends? When I read that part I immediately put myself mentally into those shoes and thought the only honest way to raise money from loved ones is to say "I believe in this project, I want it to succeed, I calculate a reasonable probability of success in which case your investment has the potential to be worth $XYZ. HOWEVER, you should be aware that ALL startups are a total crapshoot, and it's also a very reasonable possibility that you will lose all your money so please do not invest anything that you cannot afford to lose."
We don't know whether OP pitched it this way to friends and family, but I sincerely hope he did.
Yeah, the "fools" line is an indicator that you are burned out and have lost your belief in the mission. You'd be lying to yourself and others if you continued.
I didn't read the Forbes reference because ad block, but I'm willing to bet that is a pretty common expression among _observers_ of the tech startup/financing scene. Coming from a founder who's been cashing the "fools" checks... well I can only hope it's a lot less common.
Given your statement above, there's really no question beyond this point. You promised riches and success to family and friends and it is not currently looking like you will do that, and their message is "stop please before its all gone". Do so.
If you still have money and it is from family and friends then stop right now - on Monday (tomorrow) and give back all that you can. If you burn the rest of that cash then for the rest of your life those relationships will exist for you only in the light of that money. It would be different if the money you had was from an angel or VC who are taking calculated risks.
Your family and friends relationships are worth infinitely more than any startup.
You should instantly kill all business costs, go get a job, and continue marketing what you have built on the side.