'My advice: Run'; Friendship implodes between employee and former colleague due to a shift in power dynamic, sparks discussion

Welcome to the corporate world, where there is a ladder somewhere everybody is trying to climb and throw whatever relationships you thought had with the people there, because in here "it's just business" is the mentality. It's pretty upsetting, tbh. Millennials and Gen Z are working hard to dismantle this type of toxic workplace culture, but alas, it still seems to rear its ugly head all over professional situations. And it's even worse when the professional situation is with someone you considered a friend. 

An employee recently took to Reddit to seek advice on a situation where a shift in power dynamic ruined a friendship. The employee was only hired about 3 months ago and feels he has been bait and switched. The company is a small startup that a former colleague that he worked with and highly respected started. When he accepted the job he was told it would be chaotic, but that they keep the workplace culture "chill" and there wouldn't be crazy hours but "lots of laughs together." Sounds like a dream come true, right?

Wrong. The employee is now realizing that the former colleague seems to be in over their head and is taking it out on the employees. Him and they employees have way TOO many hours and are feeling overworked and burnt out. They get constantly micro-managed, even though there was never any formal training. And the boss/former friend and colleague "barks" orders and commands at them as if they were misbehaving children at a catholic school. He asked for advice and it's pretty split down the middle whether they should try to speak with their new employer as a friend/concern employee or if they should just count their loses and find a new job. What would you do? See the whole story and what people are saying below!