4 ms·
the prior guy has no shares anymore. These sunk-costs (traction, incubation, awards..) have been the reasons why we've been selected. Joining after is lowering
by samnadine 14y ago
the prior guy has no shares anymore.
These sunk-costs (traction, incubation, awards..) have been the reasons why we've been selected. Joining after is lowering the risk. If he would have started long time ago then 50/50, like with the prior guy.
The loan is a personal loan from the first incubator, which hasn't to be fully pay back in case you fail.
- gojomo 14y ago(1) risks lawsuit unless there's an ironclad purchase/assignment-of-rights with prior guy (2) only you and he can weigh that prior progress against his future value, and each of your next-best-options. (3) still fishy and seems irrelevant; if he's receiving cash-up-front from business for living expenses, that either -- (a) won't be paid back in fail-scenario, or (b) will be paid back, when there's plenty of money and it doesn't matter, in succeed-scenario -- then it's mostly like salary, and there shouldn't be brownie points for calling it a 'loan'.