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I'd echo the sentiment around him being a top-level employee, not a co-founder. I had an option agreement as a CxO for 2.25% (never vested as I left before my c
by wastedhours 9y ago
I'd echo the sentiment around him being a top-level employee, not a co-founder. I had an option agreement as a CxO for 2.25% (never vested as I left before my cliff).
I'm not deep in the tech space, so don't know about the whats/what-ifs of it all, but would think single digits would work?
However, he doesn't sound like a good sales fit. If you value his strategic chops, can you cut him a much smaller percentage for strat work instead of sales?
- Blackstone4 9y agoWhat is your reasoning for top-level employee vs. co-founder?
- wastedhours 9y agoTo my mind, a co-founder is someone who directly contributes to not only developing the solution to the problem you're facing, but choosing the problem as well. You've already decided on the problem domain (investments), how you're going to solve it (SaaS), and have an understanding of the potential growth models you'd look for (bringing someone in to ramp up sales). Of course, if you're open to someone only working one day a week on it to come in and challenge all of that and potentially pivot into something else, then they might be a co-founder. But from what you've described, they're a very senior hire (and might not be right, with sales you want to hire for passion, rather than academic smarts), rather than your co-dependent. I was employee number 3, but I certainly wasn't a co-founder.