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by bitbasher 629 days ago
Sounds like a solid learning experience.

It's also why I am incredibly hesitant to have a co-founder and it's why I went the bootstrapped approach instead of VC funding from the start.

1 comments

yeah, problem is that is extremely hard to do it alone

My approach for the future: - Don't raise unless you really need to scale. Bootstrap as long as you can - Co-founders are ok, but with very clear pacts and shareholders agreement to manage conflicts

Don't forget vesting agreements with a 1 year cliff, exactly for situations like this.
Yes. First startup and jumped right at it, skipping the fundamentals.

I was not the only one though, the investor gave us a lot of money with a very bad shareholder agreement