4 ms·
You are getting taken advantage of. 10% equity while not taking any salary isn't fair in any circumstances I can fathom unless the company is already profitabl
by Spoom 11y ago
You are getting taken advantage of. 10% equity while not taking any salary isn't fair in any circumstances I can fathom unless the company is already profitable.
- brianwawok 11y agoThis. Sounds like a sunk cost fallacy. Look at what you actually stand to gain vs lose by staying on (ignore what you have invested). How are you living on no pay, and why would you take 10% equity for no pay? Do you have another dayjob or are you just living on savings for a small part of someones dream? My gut feeling is run - don't walk - away
- eruditely 11y agoAlright what about this option, I just go back to school full time and finish up my degree and work here part time.
- panic 11y agoWhy even work part-time? You're not getting paid. Tell them you need more equity and that your co-founder needs to focus on the business instead of on his personal image. When they say no, just leave completely (no part-time work unless you're actually paid for it) and go back to school. If they want you to build their company for them—and it is their company if you only have 10%—they need to compensate you properly.
- eruditely 11y agoWell what about experience? People do unpaid internships all the time and I don't have a degree and I would need to transfer first. The equity stake is The founder 30%, me @ 10%, other co-worker that's full time @ 2.5% but getting paid and then another guy at 4%, and then our <staff> who do the work work related to the business itself, and then the rest is set aside for other employees and investors(a lot for investors). You still agree with this assessment? He did work on the company full time by himself and some other guy for half a year/year with 1 or 2 contracts without me, but he has no technical skills so he was just getting contracts himself. Just so you know I am definitely listening to exactly how you are wording it and will be making a decision based on these words.
- panic 11y agoWell, the idea is you'd go through the process of being accepted by a school before talking to your co-founder. Then, with an alternative option in hand, you can actually have a negotiation.