Need advice for a founding member role
Got a following message from a strong founder: "For the part-time role, we require 20 hours of work per week, and for full-time, we expect 40 hours of work per week. We are currently raising Seed to launch our product, and while the challenge is significant, the impact you can make is also substantial. Currently, none of our team members receive a salary and work for future equity, and you would be in the same situation. However, as we raise more funds (which we have already started to do), we plan to pay market wages. This is standard practice for pre-seed startups." What do you guys think?
Absolute lie, a founder need two of these three things to succeed
1. Money
2. Be a developer so don’t need to hire tech people early
3. Be from good pedigree to basically secure funding
If at this stage not good pedigree for him securing funding in this market is tough. Better not work for him for free always ask money
I'm a founder and I feel someone asking you to work for free is basically scamming you. If they can't do the work themselves at this stage or figure out how to pay for it, that's their problem not yours.
Also, btw fundraising is tough now. Things are not going to move for next 6 months. Whatever you may hear in the media are basically delayed announcements or accelerator-led funding.
bruh7
Stealth
a year ago
Thank you guys for the help. Some founders really need some rehab before going on and asking people to work for free for "some" future equity. I rejected it, said will connect and interview when you're ready to pay them salaries🤣
B1naryHer0
Stealth
a year ago
Even if you get paid, working at startups at this early stage is hella tough. It's mentally and physically taxing. Only extremely proactive and accountable folks thrive there. Most suffer. This is from personal experience.
MangoSmoothie
Stealth
a year ago
Bad idea. NOT standard practice anywhere.
