What factors to consider while joining a startup?
Say a startup is in stealth and they’ve not fully revealed what they are working on. What factors do you consider while deciding to work for this startup? (Especially the risk factor for people on H1b) What kind of questions can you ask the startup regarding what their focus is on? PS: This is assuming you like the job for which you’re applying based on it’s description
I’ve been in this position 3x and each time the startup failed. If they can’t have you sign a non disclosure and then explain their funding structure and product to you I say no way! I worked for a “well funded” big data startup that spent 10mil just arguing about the product. If you’re on a visa that’s a pretty big risk. It would be better to keep an eye on them and then revisit the conversation when they are out of Beta.
This was really helpful :) from past experience, on an average, how many years does it take for startup to fail? What signs do you think you should have noticed that the startup is going to fail? Also how frequently do you think a startup must keep getting funded for it to stay afloat? Pardon my basic questions. I’m pretty new to the startup world!
They usually fail completely or start to get larger rounds of funding by 5 years and should be out of beta by then. I’m no expert but this seems the pattern. If they stop hiring or get really suddenly frugal it’s time to panic. If they are over hiring and buying fancy furniture that can be a bad sign of poor spending choices too. These guys are cocky sometimes and want to show off what isn’t really theirs yet. You need a smart balance. I think many rounds of VC $ is common. no confident/loyal customers in beta or any arguing about product direction is a huge red flag. If you’re young and single it’s a fun ride. If you have obligations and are on a visa play it safe.