48 karma · joined March 27, 2014
The reason why there are stories about successful 20 year olds is because its so rare.
The average of millionaires is 63 and billionaires is 60.
Facebook in the early years used to crash on a daily basis... I guess you don't remember that... My wall would disappear altogether sometimes... he didn't invent HipHop which is actually amazing...
However, I think you're looking at this the wrong way. Most startups fail.. you should be angling for more base and not worry about the equity at this point... get the experience and add it to your portfolio and look to your next job when this company tanks
1. Any corporate structure will allow you to split evenly. 2. See #1 3. See #1
4. If you 1099 yourself you're defeating the purpose of the S-corp election... would prevents being taxed twice. You can either take periodic distributions or pay yourself as employees of the LLC. Either way you'll have to pay taxes
No way to really tell if you will ever get a better valuation since we don't know what you do and what your financials are like.
Money in the bank leads to more money in the bank...
If you understand a basic level of code. Then document what you want to do in plain language and find a guy that can give you a technical document or.. build a prototype with that information.
A prototype... is your proof of concept. Don't waste time and money on a product that has no traction... build quick, get it out there see what the feedback is like and then tweek it.