Lots of entrepreneurial potential is wasted because talented 30-somethings have a busy day job and a family, and can't find time for their side project. Would your CEO accept this offer: you get Fridays off to build your side project, and if it gets traction and turns into a real business, your employer gets a cut. Sort of a Y Combinator for mid-career people.
Ask HN: Would your CEO give 20% time for equity in your side project?
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Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#2I fit the 30-something, 9 to 5'er demo, and I would not give up 20% equity for an extra 8 hours per week. I'd be much more likely to work out something, that allows me less pay, and more time while at the 9 to 5 to work on a side project.
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#3I doubt large companies would.
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#4I don't see this taking off:
- Worst case: they get 80% of the work they pay you for, and a chronically depressed employee because the side business isn't working.
- Best case: The side business takes off, they lose an employee, and get a share in a risky startup totally unrelated to their main focus. If they wanted to do that, they probably would have become a VC in the first place! :)
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#5I think this is a valid way and i think that my current employer (software company in germany) would allow this - as long as it is not in competition with my employers business.
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#6This just isn't feasible for virtually all employers (minus a few startups and the rare organization that isn't risk adverse) for a variety of reasons. They're losing an employee 20% of the time, they're getting a cut of something they have no interest in and don't really understand, and they'd have to spend resources to understand the contract, legality, and valuation of your venture.
In other words, for the average organization there is virtually no upside.
The only caveat to this is if you do a true intrapreneurship type deal where you are building something within the scope of your employer that they might leverage for operations or as a product sometime in the future. But that would most likely require that they have a clear first right to purchase or that the ownership roles are reversed and you are the minority holder which isn't very ideal for the 30-something.
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#7It's easier to do this in some places than others, but it's a good idea. Ricardo Semler [1] is famous for backing the startup ideas of his employees. If they're going to leave anyways to start something, better to fund them on their way out.
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#8There's an entire other 40 hours between 6 and 10, plus the weekend.
Anyone of any skill of any appreciable amount working a 9-5 has plenty of off hours to build their thing.
My question is: who are the people who could be successful with Friday off that can't be successfull with Saturday, Sunday, and after work? My bet is you're talking about serving a null set.
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#9It's easier to do this in some places than others, but it's a good idea. Ricardo Semler [1] is famous for backing the startup ideas of his employees. If they're going to leave anyways to start something, better to fund them on their way out. [1] http://en.wikipedia.org/wiki/Ricardo_Semler
Thanks for the tip on Semler. I am not sure how many CEO's will see the world this way (hence the HN question).
Re: Ask HN: Would your CEO give 20% time for equity in your side project?
#10There's an entire other 40 hours between 6 and 10, plus the weekend. Anyone of any skill of any appreciable amount working a 9-5 has plenty of off hours to build their thing. My question is: who are the people who could be successful with Friday off that can't be successfull with Saturday, Sunday, and after work? My bet is you're talking about serving a null set.
It's a good point. Time is clearly not the only obstacle for mid-career people who want to make a startup.