Yes, this. I've been in many startups but only once as a founder. I was the technical one, the only one with deep expertise in the core business area of the startup.
Well, my title was founder. All the other founders were on the board, I was not. All the other founders controlled budget, I did not. So really, despite the words on the offer letter I was just an employee. The founder title granted me the right to work 90 hour weeks with no help and no support and no budget to hire help.
At least didn't waste too many years on that one.
Learn from me. Spend some of your money up front and hire a lawyer with tons of experience in startups to guide you through contract negotiations and if the company balks at your (lawyer-assisted) terms that's your giant red flag to run very far away.
>> Well, my title was founder. All the other founders were on the board, I was not. All the other founders controlled budget, I did not. So really, despite the words on the offer letter I was just an employee. The founder title granted me the right to work 90 hour weeks with no help and no support and no budget to hire help.
>> At least didn't waste too many years on that one.
Firstly, i'm sorry to hear about your situation. I'm curious why you didnt negotiate harder some time into this. It seems to be you held all the cards.
I'm fascinated by the number of "business co-founders" who think they can cut a 25k check to some random person on eLance/Upwork and replace technical co-founders.
My recommendation would be to say -- sure, try that. Lets talk in 6mo if you still need me, but i'll set the terms at that point. 6mo is about when most non-technical people realize they have no code in source control and some random person overseas now owns their company effectively.
I've dealt with someone like that once but if they are any good they will never sit around and wait for 6 months. That person hustled very hard, cycled through several upwork teams and CTOs. through ruthless arm twisting kept all the code and underpaid everybody, finally settled on a CTO with 0 self-esteem and slave terms, and ended up building a rather successful company by now.
Well, my title was founder. All the other founders were on the board, I was not. All the other founders controlled budget, I did not. So really, despite the words on the offer letter I was just an employee. The founder title granted me the right to work 90 hour weeks with no help and no support and no budget to hire help.
At least didn't waste too many years on that one.
Learn from me. Spend some of your money up front and hire a lawyer with tons of experience in startups to guide you through contract negotiations and if the company balks at your (lawyer-assisted) terms that's your giant red flag to run very far away.