We are about to close preseed investment of 500k. The problem is that he has a new born baby and mortgage and wants at least 180k base. However I can live off of 60k. This is Bay Area We already discussed of splitting equity half half. If I take as much as him just to match, the startup will have a runway less than a year. I want him to take as little as possible just like me too but he refused saying he can have stable family only with that money. Is that why I cannot have a cofounder with a lot of responsibility?
Don’t you work for Google ? Also, this does not sound like a good partner, they will stab your back the first chance they get.
Get creative with equity in this case
gonna be honest, if this is his first baby he’s probably going to suck for about a year anyway
Reduce his equity, it's not rocket science.
With 500k seed, reducing equity and paying him 180k is not going to do jack.
depends on the company/business model. the point of reducing his equity is to convince him to counter by reducing salary.
Fuck no. He's trying to take advantage
There isn’t a one-size-fits-all answer to cofounder base salaries. My personal opinion on cofounder salaries is that founders should be paid the minimum amount that allows them to focus on the company. That’s obviously what’s best for the company. The amount is different depending on their responsibilities.
This is what I believe too. I have more responsibilities than him in this case but will get less salary
For clarity, responsibilities here refers to those outside of the startup. Startup responsibilities you should be splitting approximately 50/50.
Getting laid is a common strategy by Chads to get more benefits. Paternity leave, tax credit, etc.
Reduce their equity in exchange for higher salary. The exchange of salary to equity should make it favorable to take equity and push against salary
How did they bring it up. Hey I’ll want this much salary and leaving your salary hanging on a hope you keep yours low. Or they are proposing an increase for both of you
How long do you need to get a full seed round?
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What income is enough for you?
It’s not your problem he got his chick preggo Why should he make 120k more than you bc of that?
Because that’s a leetcode hard
Because you want your co founder to be 100% focused on the business and not on how is he going to make ends meet.