10% might be a good rule of thumb if the old adage that "9/10 startups fail" is somewhat accurate. Is $100M the average exit though? Anyone have that data?
10 karma · joined February 16, 2011
Crowd-sourced spec work is another matter altogether. If a potential client points to those sites as a way of driving down your price, they're not the kind of clients you want to work with.
There's nothing wrong with taking on a high profile job for the exposure and doing it for free if you treat it like an extraneous circumstance and a business decision. But compared to people in other fields, designers are a little soft on what are acceptable payment terms, and are often taken advantage of as a result. Free = free and paid = paid, but "spec work" is a grey area that is on the whole bad for the community.