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by PragmaticPulp
1782 days ago
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Maybe not news to anyone who has been around for a while, but I’ve been pitched by a lot of naive entrepreneurs who think doing a startup is as simple as asking investors for money and then using that money to pay engineers to build your product. It’s very common for graduates of our local MBA school who often form teams of 3-6 co-founders who want to split the equity among themselves, take C-level titles, and then hope they can find some technical people to get the work done. I try to have some honest discussions with those who will listen to advice, but many don’t want to hear anything that doesn’t make their journey sound easy |
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In fact, after I left, I came to the realization that the leadership team had first licensed the initial product, then basically contracted out all the changes they could do to patent it separately, essentially doing none of the actual developmental work themselves.
Unsurprisingly, it was a shitshow.