| I find myself so heavily disagreeing with almost every aspect of this advice, that I feel the strong urge to leave a response, although I did not intend to. >Having a co-founder is very important and necessary to achieve this goal because your business will run into a number of roadblocks that you need a partner to help you go through it. The most likely issue and road block for an early stage startup, especially one where founders are already doing well financially, is actually co-founder trouble. > However, whether or not your co-founder works as hard as you is really irrelevant. I cringe when I hear advice like this. I have been there. It has been one of the most demoralizing and depressing experiences of my entire life. Working your ass off for something while seeing your co-founder not really giving a shit simply doesn't work unless you intend to make a complete idiot out of yourself. Startups aren't socialist communities. Anyone who signs up should be aware of that. > Then who cares if you "only" get 50% of the company? Well then why not give up all of the company and give all of the shares to your co-founder slacking off? Company stake isn't only about the money. It is equally about control and about capital. Imagine having 50% for the "main" founder, 20% for the co-founder and 30% owned by angels / VCs who actually put assets into the company. Sounds like a better deal to me... > The world is gonna pay you back in so many other ways than your 50%. I am not sure how to express utmost disagreement with this. In the case of success you will get paid back exactly what has been agreed to in writing. Nobody will ever consider you the "spiritual" owner or founder of the company just because you say you worked harder. But everybody will consider you the real founder if your equity stake is higher. Simple as that. > The other piece of advice is try to be really picky with your co-founders. Find ones that you trust and have worked with before or can get amazing references about. Yes, this is good advice. However a startup can bring out really bad aspects of one's personality. Sometimes aspects you didn't know existed before you started the startup. Make sure you pick someone you know is loyal and handles stress well. These are the most important aspects of co-founder picking. |