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Can't +1 this enough. When I left that company back then, they compensated me with 5k for my equity, which would have been worth 50k and potentially much much m
by endymi0n 11y ago
Can't +1 this enough. When I left that company back then, they compensated me with 5k for my equity, which would have been worth 50k and potentially much much more at an exit. However mad I was about it back then, it cleared up my mind by being an end to something and let me focus on something new. Just 2 years later, I'm cofounder of something great and that former company is falling apart. My 5k might have been the only equity being paid out from that company ever and it paid the bed I'm sleeping on every day. Take the high road and the long view.
- pc86 11y agoI too received $5k for my 15% of a startup (I came on after the tech cofounder left, and took over that role but 90% of my time was development as opposed to truly CTO-level work). At the time felt it was a pittance given the number of hours I had put in, and from an hourly rate perspective it probably was, but the company was never profitable and was operating solely on the founder's capital. As is the case 95+% of the time, the company closed a year or two later, as far as I know having never made a profit.
- rrecuero 11y agoExactly! I haven't heard of any companies in this stage that loose a cofounder and then become successful. Until you get to product market fit, the company is worth pretty much nothing. If you want your cofounders to have at least a shot, giving them your equity in exchange of some small amount sounds the more reasonable and civilized way to go.