Currently working AT a startup part time.
It's a scientific hardware startup and times are very tough...
Poll: How many HN readers are working on a Startup?
31–40 of 64 posts
Re: Poll: How many HN readers are working on a Startup?
#32I'm curious as to how those individuals working on a startup full-time are able to support themselves without receiving any compensation. Are you simply a student going to school and this is a non-issue? Or are you working form some sort of financial cushion you saved up from your previous job? More bluntly, how do you pay for rent and food?
>More bluntly, how do you pay for rent and food?
I am working on a startup part time while a (grad) student, and I pay the bills by being a TA (which refunds tuition and gives me just a little more than I need for living expenses). Keeps me pretty busy. :) Don't think I could do it full time (i.e. drop the TA job) though.
Re: Poll: How many HN readers are working on a Startup?
#33Is it only considered a startup if you expect to make a living off of it?
i think so, otherwise it's just a hobby.
Re: Poll: How many HN readers are working on a Startup?
#34I'm curious as to how those individuals working on a startup full-time are able to support themselves without receiving any compensation. Are you simply a student going to school and this is a non-issue? Or are you working form some sort of financial cushion you saved up from your previous job? More bluntly, how do you pay for rent and food?
1. Get high paying contract work.
2. Live as cheap as possible, live with relatives, clients, whatever cheap thing you can find.
3. To keep you working hard, hire some part time help in areas you suck at. For me this is design.
4. Bum food, complain about lack of money. You'll get more pity and help these days.
5. Spend money wisely, don't get services that don't give back at least as much value as they cost.
Re: Poll: How many HN readers are working on a Startup?
#35I'm curious as to how those individuals working on a startup full-time are able to support themselves without receiving any compensation. Are you simply a student going to school and this is a non-issue? Or are you working form some sort of financial cushion you saved up from your previous job? More bluntly, how do you pay for rent and food?
There seem to be 4 routes: 1 have rich parents (not kidding) 2 work part time until you can get angel investment 3 a pre-angel incubator ala YC 4 live somewhere really cheap and use savings In the two startups I've worked for, I personally saw routes 1 and 3.
1 have rich parents (not kidding)
I'd broaden that category to "have tolerant parents". My parents aren't rich, but they have a basement which would be empty if I wasn't living here.
Re: Poll: How many HN readers are working on a Startup?
#36I'm curious as to how those individuals working on a startup full-time are able to support themselves without receiving any compensation. Are you simply a student going to school and this is a non-issue? Or are you working form some sort of financial cushion you saved up from your previous job? More bluntly, how do you pay for rent and food?
There seem to be 4 routes: 1 have rich parents (not kidding) 2 work part time until you can get angel investment 3 a pre-angel incubator ala YC 4 live somewhere really cheap and use savings In the two startups I've worked for, I personally saw routes 1 and 3.
[deleted]
Re: Poll: How many HN readers are working on a Startup?
#37I'm curious as to how those individuals working on a startup full-time are able to support themselves without receiving any compensation. Are you simply a student going to school and this is a non-issue? Or are you working form some sort of financial cushion you saved up from your previous job? More bluntly, how do you pay for rent and food?
There seem to be 4 routes: 1 have rich parents (not kidding) 2 work part time until you can get angel investment 3 a pre-angel incubator ala YC 4 live somewhere really cheap and use savings In the two startups I've worked for, I personally saw routes 1 and 3.
"1 have rich parents"
They don't need to be soooo rich (you don't need millions to start), if they understand what you do, they'll support you. Also living within your family will reduce costs: rent + fooding + other things.
I'm doing it from home and starting slowly but surely
Re: Poll: How many HN readers are working on a Startup?
#38Earlier quoted context omitted.
There seem to be 4 routes: 1 have rich parents (not kidding) 2 work part time until you can get angel investment 3 a pre-angel incubator ala YC 4 live somewhere really cheap and use savings In the two startups I've worked for, I personally saw routes 1 and 3.
1 have rich parents (not kidding) I'd broaden that category to "have tolerant parents". My parents aren't rich, but they have a basement which would be empty if I wasn't living here.
All 4 could be broadened:
1 have rich parents (not kidding) >> Parents
2 work part time until you can get angel investment >> Another income
3 a pre-angel incubator ala YC >> Small investment/tor
4 live somewhere really cheap and use savings >> Savings
I think all 4 imply also living cheap
Re: Poll: How many HN readers are working on a Startup?
#39Earlier quoted context omitted.
There seem to be 4 routes: 1 have rich parents (not kidding) 2 work part time until you can get angel investment 3 a pre-angel incubator ala YC 4 live somewhere really cheap and use savings In the two startups I've worked for, I personally saw routes 1 and 3.
1 have rich parents (not kidding) I'd broaden that category to "have tolerant parents". My parents aren't rich, but they have a basement which would be empty if I wasn't living here.
Yes, but it's not just living expenses -- I was thinking along the lines of can your parents float you $25K for startup costs such as equipment and working capital? How about $100K? Is it a big deal if they don't get it back, ie is this their retirement, or is just kind of a bummer? And so forth...
The startup I was thinking of needed the money in order to establish business relationships -- the business they are in requires quite a bit of working capital. The founder's parents basically gave him $150K and they aren't so rich that they wouldn't notice, but if he had lost the money, it wouldn't have been a particularly big deal. (Sorry, I'm not trying to play coy, so if anybody is interested, email me and I'm happy to give names, but I just don't want this account to be googleable.)
Edit since I can't reply and want to go to sleep -- yes, this makes your parents angels, but getting angel investment suffers from who you know -- how many people grow up knowing angels? So your parents offer three major advantages:
1 - you know them already
2 - you know them already
3 - they are probably more willing to take a chance on you... and you know them already
Re: Poll: How many HN readers are working on a Startup?
#40I'm curious as to how those individuals working on a startup full-time are able to support themselves without receiving any compensation. Are you simply a student going to school and this is a non-issue? Or are you working form some sort of financial cushion you saved up from your previous job? More bluntly, how do you pay for rent and food?
There seem to be 4 routes: 1 have rich parents (not kidding) 2 work part time until you can get angel investment 3 a pre-angel incubator ala YC 4 live somewhere really cheap and use savings In the two startups I've worked for, I personally saw routes 1 and 3.
Can I add another route?
5 Using an existing profitable business to incubate a startup within.
The consulting business I run funds the development of a number of skunkworks projects, and it looks like two of them will see light in their own right.