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lostfounder111

13 karma · joined April 2, 2018

D-1jlp997fox53dpf82@maildrop.cc
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lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
I love this comment. Great perspective. It's hard to articulate all sides of the story with a timeline-esque narrative, but I think your comment is a great follow up.

> he found out that you created a serious hairy mudball

No question about it, we're talking about early 00s web development. osCommerce required register_globals to be on. By today's standards, it's an aberration. But, really, quite a few best practice-y things from early 00s look quite antiquated today.

For all it's warts, almost the entire stack remained untouched (just looked at our initial git import from when I returned), as the company revenue hovered around $4m/yr for a few years.

The company's location is not well suited to hire tech talent, and my father tends towards a 'butts-in-the-seats' management style, which really prevented us from hiring someone who could do more than day-to-day bug fixes.

> you would kill the goose that lays the golden eggs

As of a few years ago, my father had basically no retirement savings, and he picked some up a pretty expensive hobbies. I think he's realized he's at retirement age without money to finance his current lifestyle. (A lifestyle that I benefit from, no doubt -- family vacations, family houses, etc).

Thanks again for the comment, it's a great perspective to keep in mind.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
I think you are mostly correct here. My father has been a serial entrepreneur, though without any large payouts. He got screwed in an acquisition, and the next enterprise ended in bankruptcy. None were even half as large as our company is now.

I know that until a few years ago, he had basically zero retirement savings -- which is different than having no money to spend. But you are probably correct on all counts.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
Thanks for the comment. It does follow the running thread with most comments that I shouldn't be afraid to distance myself.

> One point that may be lost in all the comments, [...] this was his father's company to begin with.

I've pondered this. There is no disputing (and I try to make this point in the paste) that my father actually brought something to the table. In this case, it was inventory and supplier relationships.

In some respects, the whole thing was so separate from the original company that I used to joke with my father that I should just have the money deposited in my bank account instead of his, and he should just give me a slightly better price on product.

We even discussed changing the name of the company when we transitioned to online-only sales. But, hysterically, the company is named after me, so I argued that it should stay the same, and eventually persuaded him.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
Thanks for the thought provoking comments.

> Who paid for college?

I've reflected on this question before. My parents paid for college. Although I went at their urging. I was already writing software every day, to be honest I didn't see the value in a degree.

I started another online business in college, and employed my brother until I sold the company a few years later. My parents gave my brother and I a monthly stipend, but I made multiples of it with the online business.

I also incorporated lessons learned from this company into my father and I's company.

Generally, I agree with all of your points/questions.

> [He] was paying for things for you

I do think about this. But if your child has a skill, does that mean if you cloth them and feed them, you are entitled to work for free? I doubt many would agree there.

> I think you're seeing green a little

There is no discussion to be had if the business wasn't making any money. It wouldn't matter who owned 100% of $0 profit. I was part of building a multi-million dollar company, and the thought of having to redo the sleepless nights (Pulling all-nighters in high school making new stuff or after our shared host upgraded their php install and our shop started segfaulting), just seems crazy. I put in the work and I was a big part of building something great.

> want more power than your brother

Also true. I'm not sure I could disagree with his style of management any more. He is, unfortunately, not able see long term, and will cut his nose to spite his face. We just disagree, and the thought of having to have some kind of 'consensus' about decisions is not appealing.

> I have no idea what he already gifted you

I believe the note just literally just said 'ownership'. And hasn't been mentioned since.

> You could go get lawyers involved but win or lose, you'll lose.

Agreed.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
Thanks for this post. It's what I was looking for when I posted. I'm not set on 50/50, and it's not lost on me that he took risk as well. I'm also no sure I can objectively value my own contributions, as I view them through my own set of biases.

I can say for certain, simply because my father knew absolutely nothing about the internet, and had no money for software, that the company as it exists today would not be a thing.

We had transitioned to 90%+ online sales by the start of high school.

> assuming Amazon doesn't eat both your lunches in the meantime

Funny enough, this is where we differ most about vision for the company.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
Appreciate you taking the time to comment. I don't plan to lawyer up, but I think you're probably correct that it's not healthy to continue working there barring a change.

My father's stance is very perplexing to me as well. He's a great guy, but when it comes to business, I'm sometimes surprised by the ruthlessness.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
I do appreciate this advice. It is certainly one path I could take, and given the situation stays the same, probably will take.

I do believe there is hope for reconciliation here, but if not, you are correct that I shouldn't let my ties to the company be something I can't shake off.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
Thanks for the comment!

I've already decided it isn't worth it. I have no plans to lawyer up in this situation.

lostfounder111··on Ask HN: Middle School family biz founder; now adult, and parents have all equity
Here is a clickable link to the full version of my story: https://pastebin.com/JDGUtT3Q