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You built an impressive team and MVP without structure and don't have equity figured out?. And there are impressive people who want to invest knowing all this?
by navinsylvester 9y ago
You built an impressive team and MVP without structure and don't have equity figured out?.
And there are impressive people who want to invest knowing all this?.
Lot of red flags here. Please set the house in order before its too late.
- samstave 9y agoWe are a team who have all worked together in various companies over the years. We originally built the seeds of this idea whilst at Lockheed - we tried to spin out and do it in 2007, but couldn't get money. Then a problem was presented to me two months ago, and I said "hey, we've built that before." and so over the last month - we built out the MVP, and gave an 8 minute demo - and we have serious people who want it. (we applied to YC, will see - but I am just not used to this level of excitement) -- we only showed our MVP, as we just wanted validation from the people who posed the problem to us to ensure we were doing what they wanted and we were going in the right direction... we didn't expect this.
- DrScump 9y agoWe originally built the seeds of this idea whilst at Lockheed How did you all avoid signing the Lockheed Patent Plan when onboarding?
- samstave 9y agoBecause we were an acquired company making the tech before and never had to sign those after purchase. Also this is completely different tech.
- navinsylvester 9y agoWow - looks like crazy couple of months in a good way. Good luck with your venture. Its not always good to take money too early and give out too much equity. Chalk out a plan and try to grow organically so you can get the most out of it in the long run.