I am a backend engineer w 4~5 yoe in my late 20s and looking for a job due to layoffs. I was approached by a founder in a finance SaaS firm but after meeting with the team have some doubts. Company details: - 1 mil preseed - 1 CEO 1 backend 1 frontend 1 designer (all friends from same high school) - customers signed: < 5 banks, has revenue but no profit yet. Everyone on the team has < 2 yoe before joining and is not from tech. I've noticed some technical gaps during our conversation regarding best practices and directions for scaling their app. The ceo has an IB background and is good at sales with strong logic in his communication skills but I also cant deny that he gives a new grad vibe. However, I do think the product space is niche enough for them to compete with no strong competitors in the market. Getting contracts with large banks prior to launch shows that it's a significant pain point in the finance industry as well. I have done some startup work on the side before. Loved the velocity and also building out features to customers and not having to worry about world-class scale and lengthy discussions with the security team. Do you think its worth taking a leap? Or should i continue to stay in tech to grow any advice on what additional question I should ask or key metric that I need to gauge when deciding a startup would be helpful blind tax: 205 bands #startups #tech #software #finanace
I would avoid this one and run, especially since you mentioned that they were friends. This is just setting yourself up for exclusion and bias from the in-group. That in addition to the fact that it isn’t profit generating. I would stay in FAANG and hold on for a better market than jump to any startup in this market, unless they’re marked as AI/ML. Best of luck, OP! TC: 105K
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