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This company looks to be pre-revenue and raised a $20mil seed in late 2019. Although I like the ideal of everyone being valued the same - this may be easier to
by fblp 6y ago
This company looks to be pre-revenue and raised a $20mil seed in late 2019. Although I like the ideal of everyone being valued the same - this may be easier to do when the company has plenty of VC cash and just needs to make cool stuff. Over time, people who are more committed and more experienced will emerge.
Are the founders going to get the same pay as the new admin hire in year 4 when there's only 1 year's runway left?
Who's going to leave first - your junior sales hire on 170k, or the sales hire that has been with the company 4 years, has a book of business that generates 5x more revenue (that is now helping pay for this salary policy) and has only received 5k raises each year?
- steveklabnik 6y agoWe are pre-revenue, and the sales people example you mention is explicitly in the blog post as an example of how we may end up changing things eventually as time goes on. (you can control-f for "sales") (I wrote this comment before you edited a few times, but I think it still works even with the extra you added)
- fblp 6y agoHey thanks for this response - i didn't read the that as an explicitly example of how you'd handled it. More the blog acknowledged that it might not scale to this. Good luck!
- true_religion 6y agoWhen there is only one year of runway, founder would probably take a pay cut to €0 and the admin will continue making market salary.