1,324 karma · joined September 30, 2007
Those are the only three outcomes for a venture backed startup.
It's wrong because it is NOT uncommon for a founder to take chips off the table sometimes enriching themselves to the tune of millions only for the startup to then "fail" -- either go bankrupt, sell for peanuts, or sell for only a modest multiple.
You're not done until you're done. But founder liquidity has now become a path to getting rich when the outcome of the company is still unknown and up in the air. If venture backed founders don't want that risk, they should start bootstrapped companies.
At a minimum, there should be a cap on it (not % but $), and yes, it should be extended to early employees too.
Is there a way to target individual users or a subset of users?
Looking for something a little different here: I'd like to help an early stage startup hire remote overseas talent and build a stellar dev team.
I'm an experienced engineering leader/early stage CTO who has led software teams of up to 10. I've built a number of products from the ground up. I've hired at least 35-40 engineers in my career thus far, and a number of them from outside the US in the past few years.
Here's how I see myself helping:
- help non technical founders source, vet, and interview developers
- help non technical founders as initial/interim CTO helping the hired team hit their stride and get productive shipping (by setting the right processes and culture)
- act as deputy VP of eng helping the VP of eng with interviews, resume screening, and anything else that helps them with hiring
Resume: https://www.dropbox.com/scl/fi/5flvdmfrxaq8ytipzqthc/Profile...
I previously led a team of 10 at a notable company to re-build its platform entirely. More recently, I've been leading a small team at a Series B startup in a fractional eng lead capacity. I have worked with engineers from diverse cultures and countries (I'm an immigrant myself) and know how to relate to and vet them.
React out if this interests you. I'm open to other interesting freelance consulting opportunities as well.
Email in my bio.
By educating me about the risk, you haven't accomplished anything. If you have ideas for how I can play the odds better and improve my success rate, I'm all ears. It's better to say look to each side of the road when you cross vs you're gonna die if you're not careful.
At least most people in tech have the skills to fall back on a career if their company fails. Needless caution advice coated in a cynical tone just creates negativity around the whole topic.
Can't we just celebrate that the founder of Webflow managed to rescue his company from the brink of fail (even if it was dumb luck - it wasn't) and has built a life for himself? This is the stuff that inspires human beings and makes everyone feel like they could do it too. Clouding it in _oh but what if you're in the other 9 out of 10 camp_ is just you know .. pointless.
It's fine to say, hey make yourself comfortable first, play small bets and free yourself from complete ruin before you go bet the farm, but, yolo so you do you. But no need to rain on the parade of the person who has crossed over to the other side.
Of course 9/10 founders are going to fail, some people have more privilege to take risks, and people with families have to take measured risks.
What's the point? Should people not try, keep crying about it, keep complaining that it's easy to say this when you have privilege, keep looking at the negative side? We all recognize life's a lottery and the odds are stacked in favor of some and not others. So?
In the past, I've hired a dev shop/freelancer when the project could be worked on fairly independently with high level direction and has a strong business use case but it isn't worth wasting core team cycles. For eg, marketing team needs a dashboard, the reporting/ETL infra needs to setup or is broken, internal products, or even clearing the bug backlog. Ideally the dev shop also has someone who can do some product/design work if necessary.
If you're hiring a dev shop for higher velocity/shipping features quicker, you have to be careful. Reviewing their PRs, communication (if in different TZs), sharing context, poorly done work, and disconnect between team's best practices and theirs can eat into your core team's time and potentially lead to some frustration.
As much as possible, the key is to protect your team's time aside from critical inflection points -- initial scope, them sharing their approach, validating if it looks good, and the occasional review/check-in.
Hope this helps.
Just curious if you're seeing interest from them again.
I'm looking to work with early stage teams and non-technical founders as the technical co-founder/early-stage CTO/CPO they don't currently have.
Resume: https://www.dropbox.com/s/sa8ro5qvb0n8ii2/Profile_1601567370...
I'm hands-on, have led software teams of up to 10, and built and launched complex products from scratch.
I previously led a team of 10 at a notable company to re-build its platform entirely. More recently, I helped get a B2B venture-backed startup off the ground as co-founder/head of product and eng. I built this product from scratch, hired a team of 5 and led development for 2 years, releasing nearly 500 iterations of the product. Through hard-earned experience, I've learned how to balance trade-offs between quality, speed, and resources to ship great software and lead/motivate a team while doing so.
React out if this interests you. I'm open to interim product/eng lead roles as well freelance consulting opportunities at early stage companies.
Remote -- Yes
Willing to relocate -- No
Expertise/Skills/Technologies -- Early-stage product development, seed-stage CTO/CPO, Technical Co-founder, Engineering/Product leader, Rails, React, Python, Node, Postgres
Resume -- https://www.dropbox.com/s/sa8ro5qvb0n8ii2/Profile_1601567370...
Email -- in resume
Looking for -- Interim/Freelance technical co-founder/early-stage CTO/CPO, Eng or Product leadership roles.
Bio -- I'm a hands-on (still code) product and engineering leader with sixteen+ years of experience solving problems with code, software, and design.
I previously led a team of 10 at a notable company to re-build its platform entirely. More recently, I helped get a B2B venture-backed startup off the ground as co-founder/head of product and eng. I built this product from scratch, hired a team of 5 and led development for 2 years, releasing nearly 500 iterations of the product.
I now work and consult with non-technical founders and early stage teams to own the first versions of their product (and often beyond). As someone who's trained as an engineer, I have a very strong sense for the product side of things. Through hard-earned experience, I've learned how to balance trade-offs between quality, speed, and resources to ship great software and lead/motivate a team while doing so.
React out if this interests you. I'm open to interim product/eng lead roles as well freelance consulting opportunities at early stage companies.