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Granted I've only got started on this journey a few months ago, but I tried to find a co-founder and failed 3 times to find someone who I can trust and is capable. I think I'm just going to do it myself because counting on someone else at this stage while giving up significant equity to a bozo is a recipe for disaster.
Sad to see this but thanks for posting as a cautionary tale. I think you made the right decision to resign. Hope you take care of your mental health and have some much needed rest!
That's brutal man, wish you better luck ahead. Granted I've only got started on this journey a few months ago, but I tried to find a co-founder and failed 3 times to find someone who I can trust and is capable. I think I'm just going to do it myself because counting on someone else at this stage while giving up significant equity to a bozo is a recipe for disaster.
It is very easy to fuck it up
As an aside did you get some salary while working on it. Are investors happy for some of the 1.2m to be founder salary. Asking for a friend.
Good investors understand the benefits of founders mental health and should not push you to work for free.
That's brutal man, wish you better luck ahead. Granted I've only got started on this journey a few months ago, but I tried to find a co-founder and failed 3 times to find someone who I can trust and is capable. I think I'm just going to do it myself because counting on someone else at this stage while giving up significant equity to a bozo is a recipe for disaster.
Yes... Cofounders should be people that you have been knowing for years. It is very easy to fuck it up
I’m a swe and I’ve done everything from cleaning pantries to delivering on 100 million plus projects. So I can do anything. But I also don’t know a lot and love learning and figuring stuff out. I wish I could find someone who could compliment me well.
cofounder arguments are common, esp in crypto. for your next venture, it's better to have a cofounder agreement with vesting schedule in place. once someone becomes irrational and unreasonable, it's a sign to get lawyers involved.
dont be too hard on yourself, happens to the best of us.
And do you have thoughts on how next time you'd go about picking one differently?
If you're still reading this, could you say more about how you found your co-founder? And do you have thoughts on how next time you'd go about picking one differently?
Great question. I'll try to have a trial period on the job. Set a high bar for integrity and execution. And then legal vesting...
sorry to hear the stress that your cofounder caused. how did you know them before the venture? cofounder arguments are common, esp in crypto. for your next venture, it's better to have a cofounder agreement with vesting schedule in place. once someone becomes irrational and unreasonable, it's a sign to get lawyers involved. dont be too hard on yourself, happens to the best of us.
Agree on the vesting. Rookie mistake. Also on the investor part - surprisingly they never asked it.
Will make sure to involve a good lawyer as soon as possible in the next venture