With $7m comes an army of VC endorsed people. You need a board, because what company doesnt have a board, right? New CEO is a no-brainer. New CEO means rebranding! because he needs to leave his mark and the name is obviously wrong, you pay $50k (bargain!) for a new one, its too important to make one yourself. Bumblebloggel sounds great, has great emotions embedded in its core. Dont worry, 3-5 months down the line you will be renaming the product again because CEO is bored (or you got a new one in the mean time) and you didnt run out of money yet. You need managers, to manage. Managers need something to manage, so you hire a bunch of people. Colors are important, so you pay another $50-100k to pick a right color for you. Etc

For reference how Andy Rubin, silicon valley darling, runs his VC investments: https://theamphour.com/394-jeri-ellsworth-and-the-demise-of-...