cofounder1234

8 karma · joined July 23, 2010

cofounder1234on Ask HN: Co-founder quitting job and investing $ - should I ask for more equity?

  1. If I quit my job then yea.  I'll essentially be injecting cash to cover my own expenses.  Plans on spending it are so I have some time to focus on raising seed funding and talking to customers.
  2. I believe we've informally proven market validity.  That's quite different than having enough users use the site to show numbers that mean something.

cofounder1234on Ask HN: Co-founder quitting job and investing $ - should I ask for more equity?

Yea - sounds like we have to formalize our partnership a bit more (we've only got the LLC set up). Thanks.

cofounder1234on Ask HN: Co-founder quitting job and investing $ - should I ask for more equity?

Great points. A lot of the "work" I've been subconsciously putting off. Guess I can't anymore :).

cofounder1234on Ask HN: Co-founder quitting job and investing $ - should I ask for more equity?

I prefer #1 since #2 somewhat hinges on the startup making enough money to pay me back. I don't think my co-founder will realistically be able to write me a check out of his pocket.

We haven't done a cap table or stock valuation...perhaps now's a good time to start.

cofounder1234on Ask HN: Co-founder quitting job and investing $ - should I ask for more equity?

It's just two of us at the moment and only I am leaving my job (putting in full time). I can ask my co-founder but we've talked about who is willing to or can do what and the ability/willingness to take higher risk resides with me.