Ask HN: How to implement "1% of nothing?"
http://1percentof.org/ seems to be down/defunct; but the basic idea was/is that giving 1% equity to charity for a founding company has minimal impact on founders while having a lot of potential for 'good'.
My co founder and I are doing a 2-1 equity split, and in talking about how to 'round'; I suggested, and he agreed, that we do this 1% of nothing deal. Now, we are forming as an LLC so we can't directly give equity (as far as I understand) to a non profit; nor do we have the capital/mental space to found a non-profit to give equity to.
My initial idea is to note in equity split part of the founders agreement have a clause that gives the 1% to a non profit upon transfer of ownership or conversion to c-corp.
I am wondering if anyone has experience with how to implement this, generally, or specific to our situation (forming as an LLC)