Ask HN: I want to start a new company, but I'm CEO at a funded startup • Hacker News Board

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#31

Post by iandanforth » Mon, May 07, 2018, 2:30 PM UTC

wbharding wrote: post #23

After 10 years being CEO for online marketplace, I found us in the position where our profits from the existing business (which support a team of 50) were not best allocated to the product we spent the last 10 years building. After reading Warren Buffetts “The Snowball,” I became convinced that we were best off channeling our profit into the highest ROI opps, regardless of whether they were directly relevant to our m…

Aside: StaticObject.com has the creepiest robot picture. I'm pretty sure that guys nipples are in danger.

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#32

Post by mrlala » Mon, May 07, 2018, 2:33 PM UTC

richardweddle wrote: post #26

Do both. Life is short. This is YOUR life not others. And there are examples. Jack Dorsey Twitter and Square Carlos Ghosn, Renault and Nissan Elon Musk, Tesla and SpaceX Warren Buffett, Berkshire Hathaway and Salomon Brothers Steve Jobs, Apple and Pixar Deion Sanders, National Football League and Major League Baseball Bo Jackson - same

Now name the billions of people who didn't have that kind of success.

I'm not saying don't try- but your reason is stupid.

Just because those people did it DOES NOT mean you can do it too.

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#33

Post by gwbas1c » Mon, May 07, 2018, 2:35 PM UTC

iandanforth wrote: post #31

wbharding wrote: post #23

After 10 years being CEO for online marketplace, I found us in the position where our profits from the existing business (which support a team of 50) were not best allocated to the product we spent the last 10 years building. After reading Warren Buffetts “The Snowball,” I became convinced that we were best off channeling our profit into the highest ROI opps, regardless of whether they were directly relevant to our m…

Aside: StaticObject.com has the creepiest robot picture. I'm pretty sure that guys nipples are in danger.

And that analog meter between the hands makes the robot look like a very excited man!

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#34

Post by pikma » Mon, May 07, 2018, 2:36 PM UTC

richardweddle wrote: post #26

Do both. Life is short. This is YOUR life not others. And there are examples. Jack Dorsey Twitter and Square Carlos Ghosn, Renault and Nissan Elon Musk, Tesla and SpaceX Warren Buffett, Berkshire Hathaway and Salomon Brothers Steve Jobs, Apple and Pixar Deion Sanders, National Football League and Major League Baseball Bo Jackson - same

I can't find evidence online that Salomon Brothers was founded by Buffet, our that Nissan was founded by Ghosn. Were they?

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#35

Post by romaster » Mon, May 07, 2018, 2:39 PM UTC

The 'unrelated' business idea being the result of the inroads made by you being at current company CEO role and having those customer conversations might be a potential fiduciary issue.

You need to pick someone on the board you can have a candidate initial discussion with and take it from there.

The last thing you want is to start a second co, having thought you figured out the first co, and possibly one day having a disgruntled investor from Co1 come after you claiming you should have invested resourcing from within Co1 towards the idea that you got wind of from Co1 customers... From the trust you built with those customers selling them Co1 solutions.

No I'm not a lawyer. So this is far from legal advice. Just a fellow founder who would be concerned if in this situation.

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#36

Post by sah2ed » Mon, May 07, 2018, 2:40 PM UTC

fuzzfactor wrote: post #13

I imagine that Elon Musk might have been in a similar position in the past, maybe more than once.

Not necessarily. Tesla was originally founded by Martin Eberhard and Marc Tarpenning in 2003 before Musk joined as chairman and major shareholder in 2004. Musk became CEO out of necessity since he was already CEO of SpaceX.

Being like Musk is not the norm. In fact, he has publicly admitted in an interview he did with Bill Gates about China, that combining two CEO roles makes for a terrible work-life balance -- he wouldn't wish it on anyone.

https://en.wikipedia.org/wiki/Tesla,_Inc.#Roadster_and_priva...

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#37

Post by aaavl2821 » Mon, May 07, 2018, 2:40 PM UTC

karimdag wrote: post #30

jacquesm wrote: post #21

Earlier quoted context omitted.

If a plan has 'but it worked for Elon Musk' as one of the important underpinnings that will almost certainly work against you. (Unless, of course, if you're Elon Musk.)

How so ?

For one, he invested tens of millions of his personal assets into his companies, so having tens of millions to put into a startup is one prerequisite

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#38

Post by projectramo » Mon, May 07, 2018, 2:42 PM UTC

We know who you are, Elon.

Please finish what you started with SpaceX and Tesla before you take on The Boring Company. Yes, it is a great idea, but you really have to get through ramping up manufacturing first.

Also, focus on energy storage after you get through manufacturing.

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#39

Post by sah2ed » Mon, May 07, 2018, 2:44 PM UTC

aaavl2821 wrote: post #37

karimdag wrote: post #30

Earlier quoted context omitted.

How so ?

For one, he invested tens of millions of his personal assets into his companies, so having tens of millions to put into a startup is one prerequisite

So, step 0 would be having real-world experience building a viable business, which Musk gained from Zip2 and PayPal.

Re: Ask HN: I want to start a new company, but I'm CEO at a funded startup

#40

Post by todd3834 » Mon, May 07, 2018, 2:49 PM UTC

Ideas always look best when they are new. After a while the new idea might not look so attractive and that’s where execution and focus come in. It is true that there are examples of people who run multiple companies but I don’t think we know a lot about the details on how they are pulling this off. These people are probably extremely passionate about both of these ideas. It doesn’t sound like your situation.

This reminds me of a quote from Jesus in Matthew 6:24 "No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other.”