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Level of responsibility and time allocated. Cofounders only able to work part-time, with responsibility and major income sources elsewhere, don’t carry the same risk as others with more operational responsibility. The CTO of many technical startups was the original founder.
This week they set out to create their cap table and hire a CTO. The vesting schedule protects each of the co-founders in case one gets hit by a bus or decides to drop the project after a short period of time. Jane and Dick want to bring in their friend Praveena as CTO, but they don’t know how to structure the compensation.
In the early days of Rocket Science I realized that we needed high-level advice on multiple fronts; technology, game development, video game distribution, etc. At one of our initial board meetings we had agreed on the general principle of an advisory board and put together an overall stock budget to compensate advisors.
The first is that it could carry limited inventory in stock because it had limited physical shelf space. But while Amazon blew away existing physical distribution channels to deliver products to you, we are blowing away existing physical infrastructure to help you store the things you want to keep – just not at your home.
Things like “ participating preferred stock &# in legalese unsurprisingly never actually call out, “hey, this is the participating preferred language.&# We got a3x participating liquidation preference with interest (not participating with a 3x cap, but 3x participating. The VC assumes you’ll have an option pool.
Great content again in September that meets at the intersection of startups, technology, product and being a Startup CTO. 8220; His three things (worth reading his whole post anyway) are set vision/strategy and communicate broadly, recruit/hire/retain top talent, and make sure there’s enough cash in the bank. It’s great advice.
The part that I’d like to zero in on is when you’ve got a high growth company what are some of the best practices out there to distribute equity to the founders, advisors, and employees? The one thing that I think is missing is distributing equity to every single employee in the company regardless of title.
If you don’t yet have a team yet, list the roles you need to hire for. If you don’t yet have a team yet, list the roles you need to hire for. If you’re working closely with partners who are helping you distribute your product, it’s especially important to make sure they understand who you are, how you speak, and who you serve.
We hired three guys from that batch and paid them in iPhones. Treat everyone you hire like a co-founder. It builds trust and earns buy-in from the people you hire. When you’re hiring folks, don’t promise equity upfront. Tiny, contracting market. You’ll be the only startup there. Vest, young man.
At the time, RIM was the dominant smartphone company and Livingston settled into a “process-heavy” job within the company, where he worked tirelessly all hours. “By At the end of my four-month term, they brought me on part-time to run a team that built out a system around the software I’d developed at night.”.
Inevitably, the excuses begin: I need to hire people to build the product. In later posts I’m going to get into more detail on specific topics like hiring, raising money, what types of ideas have the potential to get big, finding your founders, and the like. Like I said, forget everything else and just get your product out the door.
Docker is an open platform designed to let developers and sysadmins build, ship and run distributed apps from anywhere. The main contribution of the open-source Docker software is to simplify the distribution of applications by standardizing their properties and shipping them together with their entire environment in neat containers.
Increasingly powerful systems cracked open the door for real-time predictive analytics. A world of real-time predictions. For some, the age of “real-time” predictive analytics is here. A simple predictive analysis is your arrival time in Waze. What do you need to get started with predictive analytics?
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