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>Why didn’t he pay himseslf something around $10-35k per month as CEO? I take you've never planned a startup budget before ;). Try running the numbers on how m
by tristanj 8y ago
>Why didn’t he pay himseslf something around $10-35k per month as CEO?
I take you've never planned a startup budget before ;). Try running the numbers on how much it costs to run a startup with 5 employees for 3 years given $2m. You can't afford to pay the CEO $35k/month because you will run out of money far to quickly.
- ksahin 8y agoYou are right, but paying a founder $120k/y is totally fine when you raised $25m. It's more than that, money shouldn't be a problem for founders, so that they can focus 100% on their company. This subject has been discussed over and over again by top tier VCs !
- AstralStorm 8y agoWhy would a founder of a start-up need 120k$/y though? Are they saving to buy a property? Renting in an extremely expensive place? Perhaps hiring servants? If none of this happens (and I bet some of this could be set add cost of business) yore just filling your bank account with VC money and reducing the chances of success.