Startup: Complete Story and Character Guide

From GenCoin to the Season 3 cliffhanger — everything you need to know about Crackle's most ambitious crime drama, answered in one place.

Startup aired from 2016 to 2018 on Crackle, running for three seasons of ten episodes each. It followed a trio of entrepreneurs whose cryptocurrency startup, ArakNet, becomes a vehicle for drug cartel money laundering — dragging them into a world of FBI investigations, Russian gangsters, NSA pressure, and impossible moral choices. According to Variety, the series was Crackle's most ambitious original production, backed by a reported $40 million budget across three seasons.

If you're here because you have questions — does Wes die? What happened to Phil Rask? What happens to Izzy? — you're in the right place. This guide covers every major character, every season beat, and the unresolved ending that still haunts fans years after the show's cancellation.

Full Season Recap

Season 1

Nick Talman, the son of a corrupt banker, is forced by FBI agent Phil Rask to wear a wire against his father. While navigating this impossible situation, Nick stumbles into ArakNet, a cryptocurrency startup founded by his childhood friend Ronald Dacey and tech prodigy Izzy Morales. Unbeknownst to them, ArakNet is laundering money for the Vasquez drug cartel through a digital currency called GenCoin. The season masterfully interweaves three storylines — Nick's FBI pressure, Ronald's cartel connections, and Izzy's struggle to maintain control of her creation. According to ScreenRant, the first season was praised for its tight plotting and the chemistry between its three leads. The season ends with the trio discovering the truth about GenCoin's use and deciding to take control of their creation — not realising how deep the rabbit hole goes.

Season 2

Wes Chandler (Ron Perlman) enters as a powerful investor with cartel connections, bringing both resources and new dangers. The Russians want a piece of GenCoin after seeing its potential for global money laundering. Phil Rask's murderous past catches up with him and he exits the picture in one of the season's most dramatic sequences. Ronald grows increasingly ruthless as he embraces the darkness required to protect what he's built. Izzy struggles with her conscience as she watches her creation become a weapon for criminals. Nick stays trapped in the middle — loyal to his friends, but increasingly horrified by what they've become. The season ends with the Russians attacking ArakNet and the trio plotting revenge, setting the stage for the final season's escalation.

Season 3

NSA agent Rebecca Stroud (Mira Sorvino) arrives, determined to force a government partnership — or destroy ArakNet trying. LH7, a gang from Ronald's past, resurfaces with new demands that threaten everything. Wes and his daughter Mara's schemes grow more dangerous and unpredictable. Izzy wrestles with losing control of her creation as external forces close in from every direction. The season builds to the devastating finale "Trading Up" — where the pressure from all sides finally explodes in a sequence of events that leaves one major character dead and the others facing impossible consequences. According to Deadline, the third season was intended to set up a fourth that would have explored the aftermath of the trio's final choice, but Crackle's shifting strategy led to the show's cancellation instead.

The Season 3 Finale "Trading Up" — Explained

The finale brings every thread to a violent head. Stroud corners the trio, demanding GenCoin's architecture for the NSA. LH7 closes in. Wes and Mara's double-dealing is exposed. In the final moments, Izzy confronts Stroud — and Nick, in a desperate, impulsive act, shoots and kills the NSA agent. The season ends with the three of them standing over Stroud's body, knowing they have crossed a line from which there is no return. The screen goes black. The show was cancelled on that moment, leaving the story of ArakNet and its founders permanently frozen in time. For a deeper analysis of this finale, read our complete Season 3 ending explainer.

Character Fate Guide

Does Wes Die in Startup?

No. Wes Chandler survives through the end of Season 3. His fate is left open — one of the many unresolved threads when the show was cancelled. It is implied he will face consequences from both the cartel and the NSA investigation, but the final episode does not show his death. Ron Perlman's performance as the morally complex investor was one of the show's standout elements, with TV Guide calling it "a masterclass in controlled menace."

What Happened to Phil Rask in Startup?

Phil Rask's story reaches its conclusion in Season 2. After a long arc of corruption, violence, and manipulation, Rask's murderous past catches up with him. He is captured by the Russians working behind GenCoin and interrogated by Vera. Martin Freeman's character does not appear in Season 3 — his story ends in Season 2, removing the FBI pressure on the trio, though his absence creates a vacuum that Stroud fills in the final season. Freeman's performance as the morally compromised FBI agent was widely praised, with The Hollywood Reporter noting that he brought "unexpected layers of vulnerability and menace to what could have been a stock antihero role."

Does Nick Die in Startup?

No. Nick Talman survives through the end of Season 3. However, his fate is the most uncertain of the trio. He is the one who pulls the trigger on Stroud in the finale. When the show ends, he is standing over her body, having crossed from reluctant accomplice to killer. The show gives no hint of what happens next — though a federal investigation into Stroud's disappearance seems inevitable. Nick's arc — from privileged banker's son to FBI informant to murderer — is the show's most dramatic transformation.

Does Ronald Die in Startup?

No. Ronald Dacey survives through the end of Season 3. His LH7 connections resurface as a threat in the final season, but he is alive when the credits roll. His future is uncertain — LH7 wants what he owes, Stroud's disappearance will be investigated, and his family is increasingly at risk. Ronald's arc is a tragedy of ambition: a man who built something incredible but lost control of it to forces he couldn't manage.

What Happens to Izzy in Startup?

Izzy survives the series. Her arc is the show's emotional and moral centre — she is the one who most clearly sees the harm GenCoin is causing and struggles to reconcile her creation with its consequences. She is present at Stroud's death and, of the three, seems the most shaken by what they have done. According to Variety, Izzy's character represented the conscience of the series, and her arc was building toward a decisive choice about whether to continue down the path of compromise or find a way to break free.

Does Anyone Die in Startup?

Yes. Among the notable deaths across three seasons: Phil Rask is killed in Season 2. Rebecca Stroud is killed by Nick in the Season 3 finale. Various cartel and Russian gang members die throughout. Nick's father also dies off-screen, a consequence of the investigation Nick was forced into. The body count in Startup is significant, reflecting the high stakes of the world the characters inhabit.

ArakNet and GenCoin Explained

ArakNet is the startup at the heart of the series — a legitimate-seeming technology company that develops a digital currency called GenCoin. The Vasquez cartel uses GenCoin to launder money because cryptocurrency transactions are harder to trace than traditional banking. As the series progresses, the trio attempts to separate their creation from the cartel's control, but every solution creates a new problem — the Russians want in, the government wants control, and the technology itself becomes a weapon everyone is fighting over. The show's depiction of cryptocurrency was notably prescient, premiering years before crypto would enter mainstream conversations about money laundering and financial crime.

Why the Show Ended on a Cliffhanger

The Season 3 finale was written as a season finale, not a series finale. Crackle cancelled Startup in 2018 without giving the creators a chance to provide closure. According to Deadline, the cancellation was part of Crackle's broader shift away from original programming as the platform was sold by Sony to Chicken Soup for the Soul Entertainment in 2019. The show was not officially renewed or un-renewed — it simply ended, leaving every major storyline unresolved. When Startup hit Netflix in 2021, it reached the Netflix Top 10, sparking renewed fan campaigns for a fourth season — but none materialised. The show's enduring popularity on streaming platforms suggests that there was an audience for more, but corporate restructuring had already sealed its fate.

Read Our Fan-Written Ending

We believe every cancelled show deserves closure. Our fan-written ending for Startup picks up where "Trading Up" left off — exploring the aftermath of Stroud's death, the LH7 threat, and a mysterious offer from a man named Costa who could make everything disappear.

For a different take on tech-startup television, see our comparison of Startup and Silicon Valley. And for more on the cancellation forces that claimed this series, read our analysis of the death of the mid-budget TV show.

Every cancelled show deserves a proper ending. Explore our library of fan-written conclusions for more shows that left too soon.