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torynoter2832on Ask HN: Need advice about co-founding a startup with a VC and equity

Yes thanks! There's an accelerated vesting in case of acquisition.

Unfortunately I signed the contract 2 months ago. So I might be too late. At this point I can't negotiate. I can either take it or leave it

torynoter2832on Ask HN: Need advice about co-founding a startup with a VC and equity

#1 - They do have more companies. They all are in the right direction (Series A-C) but no big successes since it's all early. I'm assuming that the early companies got more attention from them though.

> "Do you want to be the CEO? or the CTO?" Yes but not a priority. I want to build a successful company and happy to give up my CEO seat if there's someone better suited.

> "In this scenario is the single fund providing all of the $2.85MM? Is there a board? Who does the VC/CEO answer to? Do they see their role as interim (i.e. support you to a point where you could become CEO, or get the company going until it can bring in a salaried CEO)? Or permanent?"

At this point they answer to themselves as they are the CEOs + Investors. Post series A, they will answer the new investors. They see their role in interim, but most likely hire an outside CEO, on which I have veto rights (this is in contract that they must get my thumbs up on CEO. But, they can also fire me so not sure if this actually matters)

> "I mean, it sounds like they want to build the company around you and offload the crappy bureaucracy of running a company that you admittedly don't have experience with." That's exactly right. As I said, it's my dream job, and still I can't get over the fact that 10% while doing 99% of the day to day is too low.

What do you mean by accelerated vesting? I do have some terms in case of acquisition, but I'd be diluted at series A

torynoter2832on Ask HN: Need advice about co-founding a startup with a VC and equity

Yeah I trust them. I think that at this stage I don't need much help. They are like a safety net, if I fall, they will step in. But up until now, things are going well.

torynoter2832on Ask HN: Need advice about co-founding a startup with a VC and equity

May I ask if the startup succeeded and why do you regret?

If the startup failed, why do you care how much you owned? 100% of 0 is 0.If the startup succeed, you probably made very good money regardless.

Second question: I started with looking at stuff similar to how you see it. Then I talked to someone who tried to found a startup and wasted 18 months without getting investment or real revenue. He's point is that we only see in the media the people who succeeded, but there are many people who fail even before doing anything.

The arrangement I have with them is giving me a true shot at my dream. Fair or not, I'm going to learn a lot, get the money and support I need to try to build my vision and if successful make a lot of money (probably >$10M even if exit is modest).

So, his suggestion was, go for it.