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As Finance Fridays continues, we are introducing the concept of the CapTable. Jane and Dick, our fearless cofounders of SayAhh, have set up an accounting system and created their first set of financial statements. This week they set out to create their captable and hire a CTO.
He can be technical, but he must be able to wield the tools of influence. What you don’t know Business founders who don’t code use bad proxies for picking technical co-founders (&# 10 years with Java!&# ). Technical founders who don’t sell also use bad proxies (&# Harvard MBA!&# ). Geeks can always be hired.
I’ve talked with a number of software development shops who are eager to get into the business of cofounding companies, i.e., getting product revenue and equity instead of just consulting revenue. The question is: how should they be compensated when cofounding a company? equity that belongs to departed cofounders)?
His experience at Flexport; his pay-it-forward nature; and his friendly user interface, made his a desirable angel/advisor for startups. HW: As Flexport grew and created a leadership team, how did you decide about promoting from within versus hiring from the outside? HW: Saga has three GPs, essentially three cofounders.
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