Proposition HN: I will pay $8000 for you to build your side-project/MVP • Hacker News Board

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#21

Post by dropdownmenu » Thu, Jan 10, 2013, 4:42 PM UTC

hmexx wrote: post #3

JaneLovesDotNet wrote: post #2

Pre-emptive FAQ: Isn't this a horrible deal? Incubators typically inject more money for far less equity! I earn $10K a month, I could easily save up $8K in a few months, and do this myself for 100% equity. True. If you can get into YCombinator, for example , you should obviously go for it. I can't compete with that. If you're earning $150K+, or you've already been working on your side-project for a year, this may not…

If interested, drop me a line at hnproject2013@gmail.com If you have questions or HN-style critic on the structure/proposition, write below and help me build proposition version 1.1!

Interesting idea, but it sounds like you are just trying to have someone make a product for 8k which you can go and sell.

Can you specify ways that you will be involved to justify the 50-50 split?

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#22

Post by brudgers » Thu, Jan 10, 2013, 4:42 PM UTC

hmexx wrote: post #13

tarr11 wrote: post #6

I can't seem to see any biography about you on your HN profile or this post. Are you planning on doing this anonymously?

No, but I prefer sharing my identity on a 1-on-1 basis during project discussions, rather than put it in the proposition.

[thread flagged]

To me, this is a red flag.

The offer is set before the entire HN community. It has substantial financial and legal implications.

You are competing with YC.

Your track record is relevant to the ranking of this thread on HN.

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#23

Post by killpg » Thu, Jan 10, 2013, 4:42 PM UTC

I've been wanting to write a Facebook competitor. Your $5000 is the motivation I need to see it through. It will be awesome owning 50% in the next Facebook. Let's do this!

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#24

Post by benologist » Thu, Jan 10, 2013, 4:45 PM UTC

nkohari wrote: post #10

Wow. I'd rather go on fucking Shark Tank. If someone is willing to take $5,000 to do the heavy lifting up front (therein taking most of the risk) for only 50% equity, their idea is either terrible or they aren't committed to seeing it through.

What risk? $5000 to cover yourself + $3000 marketing along with a (free) guy to do that for you which is a huge advantage that every person "launching" via a "Show HN:" submission could benefit from.

If it turns out to be a crap idea you lose 50% of a crap idea. If it turns out to be a great idea you gain 50% of a business.

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#25

Post by rafekett » Thu, Jan 10, 2013, 4:45 PM UTC

Sorry, but $6500 for 1/2 of your company seems like a raw deal at any stage. If your idea is even halfway decent, you should be able to do better than $13000 for your initial valuation.

Protip: find real investors who are interested in giving you a fair price. This offer is basically equivalent to a payday advance or a loan shark in terms of cost.

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#26

Post by [deleted] » Thu, Jan 10, 2013, 4:45 PM UTC

hmexx wrote: post #9

traxtech wrote: post #7

Earlier quoted context omitted.

US resident only / Europe / rest of the world ? Payment terms ? (upfront / milestones / finished) Future company as a delaware C/S-corp ?

Still need to iron out the details but... World. Upfront will be small (possibly nil) to prevent time-wasters. We can agree milestones based on nature of project. Once code is flowing onto a shared repository for a couple days, I'll feel comfortable starting the money drip. C/S corp in Delaware sounds reasonable. A yet to be drafted, founder's agreement to be signed at project start also to protect both parties.

[deleted]

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#27

Post by nkohari » Thu, Jan 10, 2013, 4:46 PM UTC

benologist wrote: post #24

nkohari wrote: post #10

Wow. I'd rather go on fucking Shark Tank. If someone is willing to take $5,000 to do the heavy lifting up front (therein taking most of the risk) for only 50% equity, their idea is either terrible or they aren't committed to seeing it through.

What risk? $5000 to cover yourself + $3000 marketing along with a (free) guy to do that for you which is a huge advantage that every person "launching" via a "Show HN:" submission could benefit from. If it turns out to be a crap idea you lose 50% of a crap idea. If it turns out to be a great idea you gain 50% of a business.

You still have to do all the work to build the MVP.

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#28

Post by phillmv » Thu, Jan 10, 2013, 4:49 PM UTC

JaneLovesDotNet wrote: post #2

Pre-emptive FAQ: Isn't this a horrible deal? Incubators typically inject more money for far less equity! I earn $10K a month, I could easily save up $8K in a few months, and do this myself for 100% equity. True. If you can get into YCombinator, for example , you should obviously go for it. I can't compete with that. If you're earning $150K+, or you've already been working on your side-project for a year, this may not…

Just to counter some of the negativity in here,

As a partner in a consulting shop just starting out, this isn't a bad proposition. It nets you rent money to work on scratching a pet peeve; if you're between clients and you've got something really simple you can wrap up in a month at a discounted rate this is a great idea. HN is filled with "passive income strategies" blog posts that revolve around short projects like this.

Back in October I might've taken you up on it.

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#29

Post by juanpdelat » Thu, Jan 10, 2013, 4:51 PM UTC

I think this is a great opportunity. As a developer coming from a third world country, I am sure many people could benefit from things like this. In a third world country, a student or recent graduate with no experience, would make those $8k in a year.

Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP

#30

Post by benologist » Thu, Jan 10, 2013, 4:51 PM UTC

nkohari wrote: post #27

benologist wrote: post #24

Earlier quoted context omitted.

What risk? $5000 to cover yourself + $3000 marketing along with a (free) guy to do that for you which is a huge advantage that every person "launching" via a "Show HN:" submission could benefit from. If it turns out to be a crap idea you lose 50% of a crap idea. If it turns out to be a great idea you gain 50% of a business.

You still have to do all the work to build the MVP.

And you get paid to do it = labor, not risk.

I have made and launched dozens of sites. The only ones I was paid to build belonged entirely to someone else. The ones I made for me .... I could barely afford hosting at some stages in my life.