Re:I lost $209,640 of my own money trying to start a business
by TuringNYC on Tuesday January 31, 2023 @10:43AM
(#34596515)
In general, I agree. There is enormous hidden equity in being a technical co-founder that is unappreciated until non-technical founders are burnt several times.
That said, I did present two ideas for those who want to venture into this:
- You recognize that the "success" you have in the working app isnt actually a success and plan accordingly
- You hire someone independent who keeps the third parties honest
Another one:
- You cut corners, get a working demo, raise good VC funds and hire a well-compensated technical co-founder or founding engineer who is compensated sufficiently to be happy short term and has sufficient equity to want long term success
That said, I did present two ideas for those who want to venture into this:
- You recognize that the "success" you have in the working app isnt actually a success and plan accordingly
- You hire someone independent who keeps the third parties honest
Another one:
- You cut corners, get a working demo, raise good VC funds and hire a well-compensated technical co-founder or founding engineer who is compensated sufficiently to be happy short term and has sufficient equity to want long term success