Startups Leaving my startup soon with 10% equity. What's to stop founders from issuing themselves 10x more shares and diluting my owner ship down to 1%? |
- Leaving my startup soon with 10% equity. What's to stop founders from issuing themselves 10x more shares and diluting my owner ship down to 1%?
- Anyone else always wanted to be an entrepreneur but just didn’t have an idea!?
- Co-Founding experience with "new people"
- Are there sites to search for startup acelerators/incubators?
- How do you know when it's time to give up entrepreneurship and focus on other things?
- What kind of evaluation should we go for? (Pre-seed Unicorn potential)
| Posted: 19 Jan 2022 02:31 PM PST Title, 3 founders all have 30k shares, plus me with 10k. Is there anything stopping them from issuing themselves all 300k shares each and erasing me? I'm hopefully leaving on ok terms, but Im worried they could do this out of spite. I have no issue being diluted when investors come in, as they're bringing in money, skills, or connections. In Canada, I'm fully vested and others will be fully vested in 2 years from now. Were also maybe 2 years til we launch. Any experiences you can share are appreciated. [link] [comments] |
| Anyone else always wanted to be an entrepreneur but just didn’t have an idea!? Posted: 19 Jan 2022 02:47 PM PST I'm struggling with this thought of starting a business. Ever since I was young I always saw myself has an entrepreneur and I guess I always thought the idea would come or I'd experience something and then I'd create something out of that experience. The thing is, I have no idea what type of business I would want to start, but I know I want to create a company! Anyone else in this same boat? [link] [comments] |
| Co-Founding experience with "new people" Posted: 20 Jan 2022 07:01 AM PST TL;DR: When you partner up with co-founders that you don't know for a long time it's hard to know where you are getting into. What is your experience? 2 years ago the CEO of a company contacted me to be part of it as CTO to create a SaaS related to a service business CEO and X had. I left a big company where I was feeling tired and wanted a challenge. I worked really hard, and I feel like I bring some structure and knowledge to the company, since I was the only one with experience in startups. I always felt the business split into 2, the service side and the new WIP-SaaS that my team and I were taking ownership of. By the end of last year, we needed money, it was hard to pay our employees. I really wanted investors for over a year, not for the money but for the knowledge, well-defined goals, and structure they could bring since I felt they weren't well organized and I had to work in the platform itself, not fight for organization. X never wanted investors, X despises the changes it might bring... X convinces the CEO to create NFTs unrelated to the service for quick cash instead of looking for investors and took my lead engineer away from my team. All on my back, they took other decisions on my back before but I'm tired. Now virtually the company is split into 3 areas (services, WIP-SaaS, NFTs) I saw some red flags before but this is a big one for me, after this happened every leadership meeting really drains my energy even when we don't discuss the subject. We are about to do a soft release of the product, I kinda want to see what happens and I'm working hard toward it. Feeling more like quitting if I'm not happy with the release than discussing my problem. What is your experience? Thank you for reading... this really helped me to carry on with my day :) [link] [comments] |
| Are there sites to search for startup acelerators/incubators? Posted: 20 Jan 2022 02:19 AM PST I am about to launch an idea, but I do not have a lot of time due to my work. That is why an incubator would be great to have, as they have a team to accelerate the company structure and process set up. Is there any site to search exclusively for those programs? Thanks [link] [comments] |
| How do you know when it's time to give up entrepreneurship and focus on other things? Posted: 19 Jan 2022 03:33 PM PST I'm 26 and haven't accomplished anything entrepreneurial. I had an idea that I was insanely passionate about for several years but could never find a co-founder or a means to build it myself. Slowly over the past couple years that passion has died down. I feel like it's a pipe dream and that I should just give up and work towards a more stable career if I ever want to afford a house and have a family. I will occasionally have a burst of motivation to work on my idea and search for a co-founder, but it always leads to disappointment. I've talked to many people in the industry and they love my idea. I also talk to a lot of potential users and they more or less say "wow that's a good idea, I'm surprised it's not already a thing for how simple it is. I wouldn't even use the [insert existing competitor] if that existed". But then when I try to find a co-founder it never goes well. Which is my own fault. I have nothing on my resume that screams to others "Hell yeah I'll be this guys cofounder, he has it figured it out". I chose a safe job out of college in an industry that has nothing to do with tech or my startup idea thinking that it would give me flexibility to work on my startup. But as time passed, I had accomplished nothing and wasted time with a career without much growth when I should've gotten a job in tech right out of college in hopes of befriending engineers and other technical people. But again, I keep getting glimmers of hope because no one has accomplished the problem my idea is trying to fix and people still get excited when I talk about it. It's like being a bad golfer. You play the first 17 holes like shit then par the last hole and feel great again, only to come back to the course and do it all over again. Which leads me to another thing. I don't know if it's depression or what but I keep taking on other hobbies like golf or playing pokemon for the first time in 10 years just because I'm, bored. It eats up my free time but it's probably my brains way of trying to forget about my startup idea. I also feel like my life is too comfortable and that's why I'll never get out of this toxic cycle I put myself in. Me and my girlfriend live in a nice rental house and I have a pretty solid life outside of my startup blues. She was smart and got a solid job with a lot of growth and is now making a lot more money than I am. Even though she's never said it, I think she's just as disappointed in me as I am that I didn't do anything with my startup idea. In no way am I blaming my gf for my failures, but I can't help but think my comfortable life is only enabling me. Another frustrating thing is that my idea is probably on the simpler side of the technological spectrum. So if I was serious out of college I probably could've taken up code to learn to build it myself. I mean it's already been 4 fucking years since I've graduated. But when I think about all that time wasted it cripples me even more. I feel like I'm so behind (Which I am) and that I can't do it (even though I can). Anyways, at this point I'm just rambling. But I need some advice.
TIA! [link] [comments] |
| What kind of evaluation should we go for? (Pre-seed Unicorn potential) Posted: 19 Jan 2022 11:36 AM PST Hello, Pre-seed unicorn potential, yeah right you say, well.. I had to get your attention somehow didn't I? We're a team of three co-founders. We're realizing that we would like to get to MVP quicker and have begun looking into raising a pre-seed round. We expect if the three of us work full time and bring on 2 more devs be able to have an MVP ready within 6-9 Months. We'd like to raise 350 to have one years run-rate to prove our product in the market. If we sell equity to raise funds, how much should we expect to part with? If our perhaps preposterous and too-good-to-be-true-projections are true and our MVP finds product market fit as easily as assumed, we estimate our product to have 90+% gross margins and be riding the unicorn within a couple of years.... But of course that's all talk until we've any kind of traction to show . Really curious to hear what people here think :-) [link] [comments] |
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