Assessing a Company: Questions you need to ask in an Interview • Hacker News Board

Re: Assessing a Company: Questions you need to ask in an Interview

#21

Post by nandemo » Mon, Dec 19, 2011, 1:25 AM UTC

codenerdz wrote: post #18

Tichy wrote: post #13

Earlier quoted context omitted.

If you are unwilling to work 60-80 hour work weeks, what is the point in lying about it? Would you make an exception for some companies?

There is a difference between working 60-80 hour weeks all the time vs putting in a week of crunch time that happens rarely. Latter is oftentimes inevitable, whereas the former is a sign of poor time management IMHO. There was nothing in my question about lying, It just seems that is very tough to emphasise your dislike of constant 60-80hr weeks and still be able to convey the fact that you wont shy away from a late…

That's why the author writes "How often do you expect...". Of course you can choose a different wording if you want to be clearer. Also, note that this happens in a face-to-face conversation, so you can always gauge the reaction of the interviewer, qualify your question, etc. I usually ask "how are your working hours like?", and add that I'm used to working overtime and weekends -- that not only avoids the impression you mention, but also makes the interviewer more likely to be honest in their answer.

By the way, I wouldn't call someone who doesn't want to do overtime "lazy". For instance, just because I'm "used" to working long hours doesn't mean that I'm indifferent to it.

Re: Assessing a Company: Questions you need to ask in an Interview

#22

Post by matwood » Mon, Dec 19, 2011, 2:27 AM UTC

asanwal wrote: post #11

jacques_chester wrote: post #9

Earlier quoted context omitted.

> On the money in bank question, you're looking for real money in the bank now. Another way to put this: "can I see your current balance sheet and cashflow statement"? Serves two purposes: 1. If they say yes, you get to see their actual assets and cash flow, unless they're flat out liars. 2. Whether they say yes or no, their degree of reluctance or acceptance is informative about managerial culture.

Jacques - I'm all for candor in discussions we have with candidates but in my view, this would be overreaching. I doubt most companies would be willing to show this unless they're hiring someone at the C-level. Plus for VC-backed startups, I wonder if there are limitations on showing this kind of stuff (we're revenue-backed so I can't comment on that) I think your point #2 is valid even if you ask my initial question…

All the details may be overreaching, but if I'm joining a startup I definitely want to know revenue, profit/loss, and runway left if applicable.

I'd also want to know exactly how they make money or are planning to make money.

Re: Assessing a Company: Questions you need to ask in an Interview

#23

Post by joezydeco » Mon, Dec 19, 2011, 3:08 AM UTC

matwood wrote: post #22

asanwal wrote: post #11

Earlier quoted context omitted.

Jacques - I'm all for candor in discussions we have with candidates but in my view, this would be overreaching. I doubt most companies would be willing to show this unless they're hiring someone at the C-level. Plus for VC-backed startups, I wonder if there are limitations on showing this kind of stuff (we're revenue-backed so I can't comment on that) I think your point #2 is valid even if you ask my initial question…

All the details may be overreaching, but if I'm joining a startup I definitely want to know revenue, profit/loss, and runway left if applicable. I'd also want to know exactly how they make money or are planning to make money.

Are you joining as an employee, or as an investor? Because if you're not an investor, your ties to the financial state of the company begin and end with the paycheck that shows up on your desk every Friday.

Re: Assessing a Company: Questions you need to ask in an Interview

#24

Post by polymatter » Mon, Dec 19, 2011, 4:00 AM UTC

Research is something everyone stresses, but it is something I struggle with and I would really like to see more advice on it. Advice on parsing the data I get rather than more data.

Now I've gotten into the habit of only looking at directors statements on their annual reports when I need to research a company. I get so little from the rest of their website, I can spend hours and not understand anything more than the names of their products/services. I have the distinct impression that coding teaches me to only believe what is stated, whereas parsing marketing text is all about reading the lines, which I am terrible at.

Re: Assessing a Company: Questions you need to ask in an Interview

#25

Post by jacques_chester » Mon, Dec 19, 2011, 4:23 AM UTC

joezydeco wrote: post #23

matwood wrote: post #22

Earlier quoted context omitted.

All the details may be overreaching, but if I'm joining a startup I definitely want to know revenue, profit/loss, and runway left if applicable. I'd also want to know exactly how they make money or are planning to make money.

Are you joining as an employee, or as an investor? Because if you're not an investor, your ties to the financial state of the company begin and end with the paycheck that shows up on your desk every Friday.

That's a simplistic view of matters. My relation to my employer is not quite so atomistic.

I carry enough savings to get by for a few weeks if they go broke or tire of my lame puns; but for many people certainty is worth money. That's why lots of folks prefer steady paycheques to high hourly rates or equity.

Re: Assessing a Company: Questions you need to ask in an Interview

#26

Post by temphn » Mon, Dec 19, 2011, 4:51 AM UTC

jacques_chester wrote: post #9

asanwal wrote: post #2

This is a fantastic guide that I think anyone thinking of working at a startup should read. There is far too much hype, personality and gimmickry it seems around startup hiring much of the time. We're interviewing lots of folks these days and here are some more questions I think candidates should ask or which we've been asked which I appreciate: 1. How many months (or years) of cash do you have in the bank? The found…

> On the money in bank question, you're looking for real money in the bank now. Another way to put this: "can I see your current balance sheet and cashflow statement"? Serves two purposes: 1. If they say yes, you get to see their actual assets and cash flow, unless they're flat out liars. 2. Whether they say yes or no, their degree of reluctance or acceptance is informative about managerial culture.

For one data point: as an employer, if someone asked me that in a job interview I'd think they were complete mercenaries and highly distrustful/cynical. Would smile, respond with something noncommittal about how the board won't let us share that kind of information, and cut short the interview as soon as possible.

Think about it from our perspective: part of the point of being a non-public company is that you can keep some things close to the vest, like profits and balance sheet. Perhaps 50% of the people we interview don't end up getting a position. What if you take that info and share it with competitors, or plaster it on TechCrunch?

This is particularly true if this was a follow up to a previous question (which is borderline) about how many months of cash were in the bank.

Should you judge the financial health of a company? Sure. Look them up on CrunchBase, observe the surroundings, do some research into market size yourself. But have some tact.

Re: Assessing a Company: Questions you need to ask in an Interview

#27

Post by jeromeparadis » Mon, Dec 19, 2011, 5:25 AM UTC

jacques_chester wrote: post #20

tomblomfield wrote: post #19

Earlier quoted context omitted.

Asking the question that bluntly is out of line, imho.

How would you phrase it?

As the CTO of a startup you recently closed an investment round, I think the more appropriate question would be: "with the money you got and your budget, how long can you survive?". I would have no problem answering this to a prospective candidate. Without making sizable revenues or closing another round at some point, a startup will run out of cash.

Re: Assessing a Company: Questions you need to ask in an Interview

#28

Post by lemming » Mon, Dec 19, 2011, 6:11 AM UTC

In addition to the excellent questions here about revenue and runway, if equity is a significant part of your comp (read: if you could make more money elsewhere and you're not taking the pay hit because it's the job of your dreams) there are more things you need to know. I'd want to know total investment, the liquidation preference and if the preferred stock is participating. This will give you a good idea of the exit required for your stock to actually be worth anything. Knowing the makeup of the board is useful too, i.e. how many are VCs compared to common holders.

Re: Assessing a Company: Questions you need to ask in an Interview

#29

Post by frobozz » Mon, Dec 19, 2011, 9:59 AM UTC

nigelsampson wrote: post #6

I've found a lot of companies don't like giving feedback of negative outcomes for fear of opening themselves up to some sort of liability around discrimination. Realistically it shouldn't be a problem if they handled the interview correctly, but some prefer not to take the risk.

I would have thought the opposite to be true.

Re: Assessing a Company: Questions you need to ask in an Interview

#30

Post by arethuza » Mon, Dec 19, 2011, 11:25 AM UTC

temphn wrote: post #26

jacques_chester wrote: post #9

Earlier quoted context omitted.

> On the money in bank question, you're looking for real money in the bank now. Another way to put this: "can I see your current balance sheet and cashflow statement"? Serves two purposes: 1. If they say yes, you get to see their actual assets and cash flow, unless they're flat out liars. 2. Whether they say yes or no, their degree of reluctance or acceptance is informative about managerial culture.

For one data point: as an employer, if someone asked me that in a job interview I'd think they were complete mercenaries and highly distrustful/cynical. Would smile, respond with something noncommittal about how the board won't let us share that kind of information, and cut short the interview as soon as possible. Think about it from our perspective: part of the point of being a non-public company is that you can kee…

Why is it tactless to ask whether a company is profitable (or at least has positive cashflow) and, if not, how much time is left at the current burn rate?

Sounds like basic due diligence when checking out a potential new employer to me.