User Power
Value/Post Ratio
10%
- Apr 29, 2024
- 10
- 1
- 24
Background on myself
I'm 24 years old, competent in building technology and entrepreneurship. I co-founded 2 tech businesses, which I hustled on for a total of 4 years while simultaneously working and studying (these did not succeed). Now I'm self-employed, doing ideation, networking, and traveling.
Opportunity
I got an opportunity to join an existing venture as a technical co-founder (CTO). The company is active for 4 months, already after funding, and employs 10 people. The business model already generates revenue from real customers, nearing profitability today. The company aims to grow up to 50-100 employees and then generate recurring dividends for the owners (not to sell the company). It can reach annual profit of $10M - $50M.
The compensation is a modest salary and equity (standard vesting and cliff). There will not be a significant dilution of shares (funding) in the future. Also, they can't promise any increase in my equity in the future. Therefore, the equity will remain fixed.
This is going to take all of my time and I don't intend to pursue other businesses.
Considerations
Pros:
Discussion
Opening that for discussion - can this opportunity become Fastlane? Mainly in terms of income and control. It depends on the amount of equity, of course. While I can provide the exact number, I'm interested in your perspectives first. What is the minimum equity that makes it Fastlane?
I'm 24 years old, competent in building technology and entrepreneurship. I co-founded 2 tech businesses, which I hustled on for a total of 4 years while simultaneously working and studying (these did not succeed). Now I'm self-employed, doing ideation, networking, and traveling.
Opportunity
I got an opportunity to join an existing venture as a technical co-founder (CTO). The company is active for 4 months, already after funding, and employs 10 people. The business model already generates revenue from real customers, nearing profitability today. The company aims to grow up to 50-100 employees and then generate recurring dividends for the owners (not to sell the company). It can reach annual profit of $10M - $50M.
The compensation is a modest salary and equity (standard vesting and cliff). There will not be a significant dilution of shares (funding) in the future. Also, they can't promise any increase in my equity in the future. Therefore, the equity will remain fixed.
This is going to take all of my time and I don't intend to pursue other businesses.
Considerations
Pros:
- Business: The business has already proved itself profitable and scalable, already de-risked.
- Fit and growth: The role aligns well with my technical knowledge and entrepreneurial background. The other co-founders are complementary.
- Network and investors: Getting into a great money-makers network that can be beneficial in future ventures. The investors are Fastlane people and want the co-founders to succeed and become rich (they seriously do).
- Income: My income will depend heavily on my salary, as the dividend income is capped by the amount of equity I have. It won't be legendary money, maybe big money. And if I leave (when the equity is fully vested), I get no salary.
- Control: I'm not the owner and not the CEO. While I can influence decision-making, I ultimately have no control over the company. The investors have full control.
Discussion
Opening that for discussion - can this opportunity become Fastlane? Mainly in terms of income and control. It depends on the amount of equity, of course. While I can provide the exact number, I'm interested in your perspectives first. What is the minimum equity that makes it Fastlane?
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