4 ms·

> first employee > only equity being offered > no sales or funding They want free labor. Don't do it.

• gfenny 9y ago
  We know each other, I trust the vision is long term and theyd compensate me with some equity and a good salary whenever they can afford it
  • mindvirus 9y ago
    If you're not getting paid, and you're only getting employee equity, you're getting screwed. They might not be able to afford the salary now, but they can definitely afford the equity - it's just a number on some paper, especially before investors are involved. Part of the reason that founders get a lot of equity is to offset the cost of not getting paid for the early years of starting the company, and being below market rates afterward. If you're getting paid, then sure, getting less equity makes sense - in two years, if it goes belly up, you have two years of salary, they have nothing. Whatever you choose, get everything in writing first. Even best friends can become enemies when there's money and verbal agreements involved.
  • oldcynic 9y ago
    The internet is littered with founders who fell out at some stage during a startup and/or got shafted from trusting in a verbal agreement. Get it legally binding or run away.
  • gaius 9y ago
    We know each other, I trust the vision is long term and theyd compensate me with some equity and a good salary whenever they can afford it If it’s not on paper, it isn’t worth the paper it’s not written on. If someone is resistant to putting it in writing, they are deliberately attempting to scam you. Are you sure they are really your friends?