3 ms·

I could swallow the 3%, the networking opportunities are probably worth that to be honest (especially for a 'project' that isn't a tangible company or product y

I could swallow the 3%, the networking opportunities are probably worth that to be honest (especially for a 'project' that isn't a tangible company or product yet), but the option is ridiculous. I also don't understand the system. I have to put my idea for a project on some leader board for other people to vote on? If I feel my idea has any worth why would I do that? I actually just planned on starting up a project, and I'd be interested in applying - but I don't want to put my plans out on a forum full of ambitious, eager, and talented people.

opportune 8y ago
I agree on the 3% although the fact that it applies to any company founded over the next 8 years seems a little bit of a stretch. If you meet someone 5 years later who wants a cofounder, seems like it could be not-insignificant penalty. I would honestly prefer to not take the $5000 if it meant I could get the networking opportunities without the 3% equity. The option is just egregiously not worth it and represents a major liability to anyone looking start a company that needs to raise significant amounts of capital
- rndmwlk 8y ago
  I didn't see the 8 year part until after I had commented. That is completely absurd.
thaumaturgy 8y ago
Ambitious, eager, and talented people that are likely already working on their own projects. "Idea theft" is a thing that happens sometimes, but the far more common problem is "idea stillbirth", where people are willing to put ridiculous barriers up in front of themselves for fear of their idea being stolen. If there's valuable help available that will improve the chances of turning an idea into a tangible thing, then people should accept it and let go of the fear that they're risking some kind of innate value in the idea itself. I don't see that the ask from Pioneer is all that onerous either, although I'm not a cut-throat business guy. They seem to be pursuing people for whom this would be a fantastic opportunity regardless. I think HN is a being a bit quick to judge this through the lens of, "I already have lots of opportunities and this one just isn't good enough for me."

opportune 8y ago

I agree on the 3% although the fact that it applies to any company founded over the next 8 years seems a little bit of a stretch. If you meet someone 5 years later who wants a cofounder, seems like it could be not-insignificant penalty. I would honestly prefer to not take the $5000 if it meant I could get the networking opportunities without the 3% equity. The option is just egregiously not worth it and represents a major liability to anyone looking start a company that needs to raise significant amounts of capital

rndmwlk 8y ago
I didn't see the 8 year part until after I had commented. That is completely absurd.

thaumaturgy 8y ago

Ambitious, eager, and talented people that are likely already working on their own projects. "Idea theft" is a thing that happens sometimes, but the far more common problem is "idea stillbirth", where people are willing to put ridiculous barriers up in front of themselves for fear of their idea being stolen. If there's valuable help available that will improve the chances of turning an idea into a tangible thing, then people should accept it and let go of the fear that they're risking some kind of innate value in the idea itself. I don't see that the ask from Pioneer is all that onerous either, although I'm not a cut-throat business guy. They seem to be pursuing people for whom this would be a fantastic opportunity regardless. I think HN is a being a bit quick to judge this through the lens of, "I already have lots of opportunities and this one just isn't good enough for me."