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Ask HN: I'm lost. Please help

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Re: Ask HN: I'm lost. Please help

#31
I don't have any first hand experience with your issue, so take what I say with that in mind.

Looking ahead, you don't like your plan or your partners. I don't know how much of the IP is yours legally, but you can try to find a new partner or work on your own if you strongly believe in the product.

If you want to quit and don't want a "normal" job, consider going back to school. You might be able to quickly patch some holes in your education and meet potential cofounders for new projects.

One quote I like: "when all else is lost, the future remains." Good luck!

Re: Ask HN: I'm lost. Please help

#32
Couple points:

You need to determine if the product/idea is actually viable and the problem is in fact that the other founders are failing to execute, or the is is something inherently flawed with the business model. Have some entrepreneurs or VCs you trust and respect review the business and give you their opinion.

If the problem is the other founders, you could start talking with them about bringing on someone to turn the company around or about selling the company to someone else.

If the problem is the idea/product/business model, you should move on ASAP.

In either case, if there is some useful technology that can be repurposed for another idea/business, make sure you get a unlimited license or if the company folds, take ownership the IP assets as back unpaid salary.

Make sure you get the transfer of IP in writing, ideally reviewed by a lawyer. If you do build something successful with the IP, you don't want "the idiots" coming around and claiming they own part of it.

Re: Ask HN: I'm lost. Please help

#33
(Bogus account to protect innocent & guilty)

Alright homey, been in nearly your exact shoes- echoing the remarks of others here's what you do: OUT OUT OUT OUT OUT

You've been sold a bill of goods and it hasn't delivered, these startup ventures in some ways are "supposed" to hurt a bit but not like this. Get out yesterday and be firm with your decision.

It is soooo much easier said than done (esp on an internet forum) but here's a coping mechanism: 1) remember you absolutely do not need to line up another gig in order to leave this one- this sounds like a loser/sucker bet and you can fall back on side gigs; 2)The "family" aspect makes things tricky but luckily you can work or not work wherever you damn please.

The crucial thing is to stop the hemorrhaging ASAP, get the hell out pronto.

Caveat: Even if they come up with a way to pay you a BS-y salary, without knowing the specifics of this situation, from what you describe I still say it's time to hit the road and get on with your life and other ventures.

Re: Ask HN: I'm lost. Please help

#34
> I think my co-founders are idiots, that they fouled up their side of the deal

Well, obviously they aren't, otherwise you wouldn't have founded the company with them right?

You can't call someone an idiot just because he's failing, or you'll be called an idiot yourself when you fail, too. Get rid of that notion.

Re: Ask HN: I'm lost. Please help

#35
2 thing

1) If this is your life and soul then find a job to support your self and keep working on this startup. Words like 'I can't imagine working for a big corp' are not going to help you at anytime in your life. You work to make your dreams come true.

2) You haven't been paid in 15 months, so what? Your co-founders haven't either. It's been 15months you should have already launched your product. It takes a team to get to where you want to go, stop blaming and start doing.

Re: Ask HN: I'm lost. Please help

#37
There is one important rule all good poker players must learn:

It is never too late to fold.

Whatever your investment was, consider it lost. The experiences you gathered getting the stuff done are all you gained and nobody can take that away.

An ultimatum might give you the opportunity to negotiate rights to the assets you created during your work (If there is no formal incorporation yet you might own the stuff anyway).

I'm sure you'll find something worth your energy! Good Luck!

Re: Ask HN: I'm lost. Please help

#38
Stay strong. But quit if you have to. There are some hints in other answers on how to decide if it's worth staying.

Is it possible to go at this solo, focus the product on the consumer, and do some customer development?

Good luck.

Re: Ask HN: I'm lost. Please help

#39

> I think my co-founders are idiots, that they fouled up their side of the deal, but I feel as though I've invested too much time and energy to bail now. You've got to let go of this attitude. If you cling to it, then you will never leave, even if your co-founders are idiots and the business is a failure. What you need to do is quit as soon as possible. Only then can you start on a better endeavor and improve your qu…

> I feel as though I've invested too much time and energy to bail now. Look up Sunk Cost Fallacy. Also this related episode of Freakonomics is great: http://www.freakonomics.com/2011/09/30/new-freakonomics-radi...

"Winners know which battles to fight and which to retreat from"

Re: Ask HN: I'm lost. Please help

#40

This situation is actually very simple, don't let it feel overcomplicated: Tell them you need an actual salary and actual health insurance in the next 30 days. If the venture can pay you to keep at it, that's great. Otherwise you'll have to start looking around for a real job in a couple of weeks. Even the most brick-and-mortar type of businessperson will completely understand this. Stick to your schedule. It will ei…

I did something very similar, but with different parameters. You'd have better off saying "90 days", but you've been sticking it out a while now.

If you're anything like me, this incredibly stressful time will end up materially pushing your career forward in the future.

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