61 karma · joined July 26, 2012
https://github.com/twcamper/sicp-kindle
https://github.com/downloads/danchoi/kindlefodder/jquery_fun...
https://github.com/downloads/danchoi/kindlefodder/rails-guid...
https://github.com/downloads/danchoi/kindlefodder/unix.2012-...
http://git-scm.com/2010/06/06/pro-git-on-kindle.html
https://github.com/zacharyscott/whys-poignant-guide-for-kind...
https://github.com/visionmedia/masteringnode
https://github.s3.amazonaws.com/media/progit.epub [Can be converted to mobi]
https://github.com/igstan/learn-you-some-erlang-kindle
https://github.com/igstan/learn-you-a-haskell-kindle
Now if you're talking about risk appetite in doing things and jumping into a startup, then I'd agree risk is a factor worth taking note of.
Here is my take:
1. Your first bullet point is irrelevant. You not having a job doesn't mean you couldn't get a job to lower risk if thats the way you think (although thats not a good way to think at all). Him having a job doesn't mean much. What matters is what you each bring to the table and what you contribute. If your argument was more base on time commitment rather than risk, I'd agree.
2. I HIGHLY disagree with this argument. A lot of HN love to downplay the non-technical founder (with good reasons) but a valuable non-technical founder who have the skills (which many who start out don't) is worth their weight in gold as well. The non-technical argument here is more of a bias use case than a fair assessment of what each is bringing to the table and how that will contribute towards the startup.
3. This one is valid. As someone else noted, check for liabilities regarding this. The fact that you are going to be putting in more time makes it somewhat valid that the split should not be 50/50 starting out. Unless he is investing some money and willing to put in equal time, among other things, it would be very difficult to justify a 50/50 partnership. That said, if you value and trust him, and he does bring the goods as you say (not just perceived), then you will need to figure out fair compensation otherwise.
TL;DR 50/50 probably doesn't make sense in this case but some of the arguments presented are invalid in my personal opinion.
Back then, Techcrunch wasn't very well known and I am not sure HN even existed. Majority of people were not blogging yet and we never thought about getting press. Perhaps because of the way things are now, and there is a lot of information overload, there is a lot of subconscious influence on how people perceive things and thus have a specific mindset when it comes to building a startup.
For better or for worse, we were not originally from this area and we didn't get exposed to any of the valley related stuff (total ignorance you could say) and because of that, we took a very different route even though we were building a tech startup.
We didn't really have a formal launch day per say (if people signed up during the beta stages, we never denied anyone from using the product or having to wait for an invite). We didn't even originally intend the idea to be a startup. It was an idea built out of necessity and something we showed off to our friends who got interested in using the product. It wasn't until some time later that the idea of making a company out of it (note the word company vs the word startup) came across our mind. When it became clear we wanted to build a company around the product, we got our small group of friends to help bring in more people who had a common interest in the product as well as reaching out to total strangers online wherever we could finding anyone who would be interested.
We spent countless hours and weeks just messaging random people online from anywhere and we probably got somewhere between 200-300 people using the product (I don't remember exact count, its been awhile). And while the rest of the world didn't even know we existed, we pretty much went through iterations to improve the product base on feedback through this group. This part was also accidental. This was before we ever moved to the bay or even heard of the term lean startup. None of that existed in our world at the time. Turns out this was the best way to do things.
This accident formed our "beta" group although it was never really intended to be such and when it was much better (the product), we started to reach out to people in the industry who had influence to check out our product. This got the ball rolling for what I guess could be considered a public launch but there was definitely no set definitive idea around what a launch day was. We began attending industry events and doing everything we could to spread the word while working on the product around the clock and slowly but surely the user base grew.
Two things to note from this. The first is I don't know how this compares to how others did things back then. The second is this may or may not be the fastest way to grow but our product was not a consumer facing product to begin with and this was before social and sharing became a de facto and things drastically changed on how fast you can acquire users today vs then. I am only answering this base on my first startup since this is what you were asking in reference to. Things are slightly different albeit still the same in a lot of ways. Hopefully it helps in some way.
I did find some website tutorials online but I'm not sure they are helpful or maybe its just I'm not getting it.
So to break this down, lets PRETEND (i.e. example scenario) you guys started out as 50/50 partners. The way vesting would have worked would be, for simplicity sakes, let says there are exactly 100 shares and that suppose you both had vested the full term (4 years) and stuck it out, you both would have 50 shares each.
Typically if anyone leaves sooner, the way it works is, if you leave before the first year (hence 1 year cliff), you leave with zero equity. At the 1 year mark, you earn 25% of your vested stock (1 year of 4 year vesting period). That means 12.5 shares of stock (1/4th of your 50 shares). From that moment on, for the remaining 3 years, shares would vest 1/36th of the remaining share for each month that goes by.
Thus at the end of the 4 years, you are fully vested. In this case, I would treat this the same. You would need to do a termination agreement (you should talk to your attorney about this), give him any vested shares he would have earned or if he is leaving before he's been there for a year, and give him some additional compensation for the termination agreement you think is fair (not stock; usually cash). In either case, you are recommended to do a termination payout whether he gets stock or not.
Talk to an attorney!
2. Another reg flag for me is if there is one thing I hate more than anything is people who purposely lie about what they know or what they can do for no apparent reason. If he can't code, he can't code. Simple as that.