Re:I lost $209,640 of my own money trying to start a business
by sbilstein on Tuesday January 31, 2023 @02:28PM
(#34600482)
Well, in this scenario, you are actually the 'former' colleague getting recruited to be a co-founder while the other folks stay stable. You just admitted you would and I wouldn't be surprised if there is a PM or even another engineer who would want to join forces. That's different than a complete stranger recruiting you -- I would be very wary.
Re:I lost $209,640 of my own money trying to start a business
by kevstev on Wednesday February 01, 2023 @08:29AM
(#34610091)
This was a real scenario I faced and the company/founder was a complete stranger to me- I forget if he just found me on LinkedIn or it was through angel list- I would not have been a cofounder just their CTO. Either way I ended up taking another offer with somewhat lower risk- they were extremely successful but turnover there was on the order of 25% per year. And I did end up taking some people with me and lasted about 5 years there so it all worked out.
I check in to see if the other company ever made it anywhere and nothing ever comes up so I guess I wasn't missing out on startup riches.
I kind of disagree here. I have been a manager at F*NG and just below those places in terms of pay, and getting my guys to jump to a startup without market fit, for the pay that those types of places tend to offer, I don't see how they would make the jump. The product/idea would have to be VERY enticing for this to happen, while for me personally, a CTO title would be enticing enough to maybe roll the dice on something.