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I'm not fabulously wealthy, nor do I expect to get so from GrantTree. Yes, I am fairly well off at this point, able to buy (jointly with my wife) a small 2-bed
by swombat 10y ago
I'm not fabulously wealthy, nor do I expect to get so from GrantTree. Yes, I am fairly well off at this point, able to buy (jointly with my wife) a small 2-bed flat in an ex-council flat in London - that's after spending 5.5 years starting a business that has raised over £35m of government funding for 600 UK startups and employs 27 people. If you think that's fabulous wealth, you have a different definition of it than I have. Yes, the business is technically worth a pile of cash (we're about to do a valuation for the purpose of issuing shares to employees so I don't know yet exactly how much), but we're not planning to sell the business so that can only be realised through long-term survival and success of the company.
The team has themselves set a target for wages to 40% of revenues, in line with your suggestion. I would have set it higher (and in fact right now our wage bill is closer to 60%) but that was not my decision to make. The 40-60% is of course not evenly distributed, though I would also quite like the thought of that, but the team themselves decide how to allocate it, so I guess they're doing the best they can.
I find the reality you perceive distasteful too - and I agree that it is widespread and it is sad that that is so.