11–20 of 23 posts
The simple fact that the entrepreneur knew to ask the question shows that he already knew the answer. He wants to go with his gut and reject this; he's just looking for a little vote of confidence.
Earlier quoted context omitted.
Do you not agree that if the entrepreneur took the deal, it would kill his company? If so, a kill , in shark language, is appropriately described by eaten alive .
He could give away 10% equity in exchange for absolutely nothing, and probably not die. He could, likewise, give away 10% equity in exchange for some offshore developers building something completely random, look at it, decide not to actually use it, and still probably not die. Now, actually deciding to replace the active codebase with something that's terrible could kill his company, but that's down the road a bit.
Rewrite the site from scratch. No more technical resources. Sounds like a pretty good startup-killer to me.
I agree the 10% part is not the problem. It's the strategic change of direction into a dead-end that is.
Earlier quoted context omitted.
Do you not agree that if the entrepreneur took the deal, it would kill his company? If so, a kill , in shark language, is appropriately described by eaten alive .
I do not agree because I don't know how 10% stake and "third world" developers may kill. I'm not saying they can't, just being curious.
When it looks too good (or too suspicious) to be true, it probably is.
The naivety of some people is just scary. If you are being approached always be on your guard. An 'investor' (I use the word lightly here ;) ) that wants to pressure you to do a deal is afraid you'll wise up, find something or that you'll back out. So, help them a bit and back out. On the spot. A good relationship can be built slowly if there appears to be time pressure you will likely make a decision that's not to y…
Either they are taking advantage of you, and know the co-founder will catch on. Or they have issues with the co-founder, which tells you that the moment conflict arises, they will shut down communications and frustrate you.
A lack of communication is an immediate deal-breaker on any of my projects.
I expected something completely different based on the title...
He wants to put $xxK of his money into his developers in [third world country]... That is equal parts terrifying and awe-inspiring for its sheer brazenness.
He wants to put $xxK of his money into his developers in [third world country]... That is equal parts terrifying and awe-inspiring for its sheer brazenness.
It's easy to imagine how it could work, though. "I have programmers ready and waiting to work on your idea ..."
-for the sense of humor challenged, the above is a joke-
The simple fact that the entrepreneur knew to ask the question shows that he already knew the answer. He wants to go with his gut and reject this; he's just looking for a little vote of confidence.
If were the tech co-founder I'd dump this guy immediately. I presume he is in a biz-dev position - if he's too dumb or indecisive for this, he has no business being in... uh, business.