> "Do you want to be the CEO? or the CTO?" Yes but not a priority. I want to build a successful company and happy to give up my CEO seat if there's someone better suited.
> "In this scenario is the single fund providing all of the $2.85MM? Is there a board? Who does the VC/CEO answer to? Do they see their role as interim (i.e. support you to a point where you could become CEO, or get the company going until it can bring in a salaried CEO)? Or permanent?"
At this point they answer to themselves as they are the CEOs + Investors. Post series A, they will answer the new investors. They see their role in interim, but most likely hire an outside CEO, on which I have veto rights (this is in contract that they must get my thumbs up on CEO. But, they can also fire me so not sure if this actually matters)
> "I mean, it sounds like they want to build the company around you and offload the crappy bureaucracy of running a company that you admittedly don't have experience with." That's exactly right. As I said, it's my dream job, and still I can't get over the fact that 10% while doing 99% of the day to day is too low.
What do you mean by accelerated vesting? I do have some terms in case of acquisition, but I'd be diluted at series A