23 karma · joined September 30, 2024
what do you recommedn?
also do guardrails in the system prompts actually work?
I was not the only one though, the investor gave us a lot of money with a very bad shareholder agreement
Agree on the vesting. Rookie mistake. Also on the investor part - surprisingly they never asked it.
Will make sure to involve a good lawyer as soon as possible in the next venture
Great question. I'll try to have a trial period on the job. Set a high bar for integrity and execution. And then legal vesting...
Good investors understand the benefits of founders mental health and should not push you to work for free.
It is very easy to fuck it up
My approach for the future: - Don't raise unless you really need to scale. Bootstrap as long as you can - Co-founders are ok, but with very clear pacts and shareholders agreement to manage conflicts
It sucks for the time that it takes away from building a company. And it is one of the reasons I'll probably go for a standard job before starting a new one
Disclaimer: I am not in a startup / tech hub. I realized that there are many more investors outside my geography. Professional investors.
Indeed I am leaving my country and starting new in another place
I proposed to give him my shares for FREE. He refused, knowing it was not capable of running the business.
On one hand, he told me the business value was in the millions. On the other, he would not buy the entire business for free.
Also, he always knew he could get some money suing the investor