6 Months, $90,000 and (Maybe) a Great Idea
nytimes.com
6 Months, $90,000 and (Maybe) a Great Idea
1–10 of 15 posts
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#2It seems a bit odd that an EIR can sit in on other founders' pitches. I'm the last person to get paranoid about NDAs or stolen ideas but this guy is getting paid to sit around and think of something.
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#3It seems a bit odd that an EIR can sit in on other founders' pitches. I'm the last person to get paranoid about NDAs or stolen ideas but this guy is getting paid to sit around and think of something .
I think it's unlikely that a VC would want to compete with an existing startup. If they had an idea relevant to one of the startups it's more likely that they would just give it to the startup and/or start funding them for it.
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#4[deleted]
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#5It seems a bit odd that an EIR can sit in on other founders' pitches. I'm the last person to get paranoid about NDAs or stolen ideas but this guy is getting paid to sit around and think of something .
I think it's unlikely that a VC would want to compete with an existing startup. If they had an idea relevant to one of the startups it's more likely that they would just give it to the startup and/or start funding them for it.
VCs are all about competing with existing startups. That's the #1 most used play in their playbook (same with YC and angels). See the paragraph of most TechCrunch posts about any new startup and you will see a list of similar ones that came before. For example: http://techcrunch.com/2010/02/18/cardpool-wants-to-buy-and-s...
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#6Anyone else sick of drawn out human interest stories at the beginning of news articles?
WRT to the article:
Most E.I.R.’s receive a monthly stipend of up to $15,000 to sit and think for about six months.
That is a horrible way to create successful products. Good entrepreneurs take action as much as they deeply ponder ideas.
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#7It seems a bit odd that an EIR can sit in on other founders' pitches. I'm the last person to get paranoid about NDAs or stolen ideas but this guy is getting paid to sit around and think of something .
EIRs often see pitches because they are often looking for startups to join as executives. Not because they are looking to steal ideas (although I guess this happens.)
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#8Anyone else sick of drawn out human interest stories at the beginning of news articles? WRT to the article: Most E.I.R.’s receive a monthly stipend of up to $15,000 to sit and think for about six months. That is a horrible way to create successful products. Good entrepreneurs take action as much as they deeply ponder ideas.
Maybe that gives them time to develop an idea into homerun for the VC firm, whereas bootstrap entrepreneurs have to hit singles and doubles at first to survive.
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#9EIR sounds like the Disneyland of startups.
Would I take the money as an EIR? Sure. Building something of real value is tough work and every possible advantage must be considered.
Would I take the best deal? Yup. There's no obligation for a firm to invest in an EIRs idea, so take the color of money that leaves you with the most ownership.
Re: 6 Months, $90,000 and (Maybe) a Great Idea
#10Anyone else sick of drawn out human interest stories at the beginning of news articles? WRT to the article: Most E.I.R.’s receive a monthly stipend of up to $15,000 to sit and think for about six months. That is a horrible way to create successful products. Good entrepreneurs take action as much as they deeply ponder ideas.
I like to think that hunger and need help drive people to success. If you're making 15K a month, you probably aren't waking up nights struggling with the desperate urge to figure out something profitable.
I know a lawyer who was probably the most driven person I'd ever known, until she graduated law school. Hasn't taken an upwardly-mobile action since she got the job 16 years ago.