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by reality_czech
4441 days ago
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Yes, investors _hate_ IOUs and often demand that they get wiped out before they invest. This is one of the reasons why Spolsky's advice is bad (in my opinion.) If a founder can't live with a slightly unequal share distribution, he is probably going to be the kind of guy who measures office sizes with a ruler. You're doomed anyway. It's probably good to avoid a hugely skewed share distribution, but if you really have to pay people different amounts of cash, the loser in that deal ought to get shares. |
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