Shark Eats Entrepreneur Alive
blog.fairsoftware.net
blog.fairsoftware.net
They will employ every high-pressure tactic in the book and then some that are considered crimes against Humanity and in more civilized societies are punishable by death. You will be able to observe a sequence of increasingly confrontational salespeople, male and female, pretty and ugly, that seem hell-bent on selling you some nice time-share in a chain of resorts. You will also see others succumb and be applauded for making a really stupid business decision.
I advise you to do it as many times as it takes for you to master the game. You may consider yourself ready when you consistently beat up the final boss and get your prize (usually tickets for some tourist attraction). I particularly like to play rude paying more attention to the food than to the salesperson, interrupting and leaving the table to get more food.
Do it a couple times a year, just for the kick of it.
It's like an immersive videogame.
OTOH, your faith on Humanity may end up a bit scratched. That's a small price to pay for this kind of enlightenment.
If you are being approached always be on your guard.
An 'investor' (I use the word lightly here ;) ) that wants to pressure you to do a deal is afraid you'll wise up, find something or that you'll back out. So, help them a bit and back out. On the spot.
A good relationship can be built slowly if there appears to be time pressure you will likely make a decision that's not to your advantage. Good decisions are made from a position of strength. Time pressure erodes that strength.
Either they are taking advantage of you, and know the co-founder will catch on. Or they have issues with the co-founder, which tells you that the moment conflict arises, they will shut down communications and frustrate you.
A lack of communication is an immediate deal-breaker on any of my projects.
That is equal parts terrifying and awe-inspiring for its sheer brazenness.
-for the sense of humor challenged, the above is a joke-
Then again, I suppose fewer people would read a post titled "Entrepeneur considers letting shark bite"...
Just asking for clarification here... Honestly sounds like a What The (Cluster) Fuck in the making...
When it looks too good (or too suspicious) to be true, it probably is.
Now, actually deciding to replace the active codebase with something that's terrible could kill his company, but that's down the road a bit.
Rewrite the site from scratch. No more technical resources. Sounds like a pretty good startup-killer to me.
I agree the 10% part is not the problem. It's the strategic change of direction into a dead-end that is.