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Development firms that advertise part equity and cash are simply not mature in defining their model, and thus they have no business taking stakes in others. After releasing the MVP, we work on a lean scrum to iterate based on early data/feedback until we start to see signs of product-market fit.
Maybe this is because I run offshore software development company and have seen a LOT of people coming asking for help after dealing with freelancers. Fact is, most people advertising their services on Elance are not going to comment/markup their code enough to lend any sense of organization to the next developer who gets it.
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