4 ms·
Don't give anyone a board seat until or unless you're forced to at Series A or later. Absolutely do not give one up before then. What you're asking about sound
by TechBro8615 5y ago
Don't give anyone a board seat until or unless you're forced to at Series A or later. Absolutely do not give one up before then.
What you're asking about sounds more like a board of advisors, which some companies do have. But the general advice is you should never give someone equity for nothing. So if you want someone to be an "advisor," ask them to invest a small amount (e.g. a $5k SAFE) in exchange for an "advisor" title.
Do NOT give away your equity or board seats. That's just dumb.
- chrisseaton 5y ago> you should never give someone equity for nothing Wouldn't you be giving them equity for their advice?
- ivanvanderbyl 5y agoBy having the advisor make a financial commitment to the company in addition to the advisor role helps align their incentives to be engaged with the company and give you valuable time.
- chrisseaton 5y ago> having the advisor make a financial commitment to the company Right... by giving them equity. You don't need them to invest.
- nkssy 5y agoBoard members should be investors or otherwise people with skin in the game. Shouldn't they? What have I missed?
- chrisseaton 5y ago> people with skin in the game Giving them equity gives them skin in the game.
- xboxnolifes 5y agoIt only gives them potential gain, no risk of loss. Incentives would be for high-risk play.