3 ms·
This is a great idea. We've thought about this a fair amount but have not yet found the right solution to implement.
by akharris 8y ago
This is a great idea. We've thought about this a fair amount but have not yet found the right solution to implement.
- DenisM 8y agoWhen you have a good plan for getting out of something you're that much more likely to get into it. Think about it -- this the easiest way to get more people to try creating more startups.
- iandanforth 8y agoIn my imagination this would initially be like your SAFE template or perhaps a checklist. A legally vetted document that tries to take into account the interests of both founders and investors while covering the important bases. I'm glad it's being thought about one way or another!
- jacquesm 8y ago> tries to take into account the interests of both founders and investors Customers first, employees second, founders third, investors last. You may want to think over why the last two are in that order, my reasons are simple: investors know the risks going in, and they will not eat one sandwich less. Founders need to be able to get on with their lives too.
- irq11 8y agoUnfortunately, the legal obligations are almost reversed.
- pkaye 8y agoIn that case they just need to forthcoming to the customers early on that they are last in priority.
- bradknowles 8y agoWhich is why you have to go out of your way to do them in the order specified. You have to operate within the confines of the laws at each step, but if you don't take care of the employees before the founders and the investors, then they're going to get screwed the most.