Anyone here work at a startup?
- Thread starter swishhboy25
- Start date
RockHard: I've been at a few technology meetings around Philly and encountered the same thing. As a matter of fact, I quite going to the start-up meetings in Philly because it seemed to be full of bright young things with absurd ideas. The guy with the new industrial supply start-up I'm talking with has already had one successful company, but he sold it. He's a lot lower key than most of the start-up people I've dealt with, so this gives me hope.
A lot of the start-up types I've met in Philly seem to be riding on daddy's cash. I couldn't believe how many of them had no business experience whatsoever. The running joke in the hipster Northern Liberties area is that the start-up lasts until the parents get tired of fronting the funds.
A lot of the start-up types I've met in Philly seem to be riding on daddy's cash. I couldn't believe how many of them had no business experience whatsoever. The running joke in the hipster Northern Liberties area is that the start-up lasts until the parents get tired of fronting the funds.
Looks like I'm going forward with the industrial supply start-up. Had a number of meetings with the guy and he seems sincere enough. He knows the market well and has good head on his shoulders. What he doesn't have is a lot of money, so we need to discuss the commission level and compensation. I've learned it's best to hash these things out at the beginning, because they will bite you in the ass later if you don't. I'm going to continue repping for the industrial maintenance firm too, probably as a commission only basis. Right now I'm still getting a (sucky) base from them, but have no idea how long that will last as the numbers have fallen through the floor. If they give me a load of shit again, will probably suggest going strictly commission.
The clincher was making a few cold calls with the owner of the start-up today and actually getting warmly received by the prospects. Why was this? BECAUSE WE COULD GET THEM SOMETHING THEY NEED. Amazing how people respond when you have a product they wanat. And this is a specialty item which can't be outsourced. So the potential looks good. For a change.
The clincher was making a few cold calls with the owner of the start-up today and actually getting warmly received by the prospects. Why was this? BECAUSE WE COULD GET THEM SOMETHING THEY NEED. Amazing how people respond when you have a product they wanat. And this is a specialty item which can't be outsourced. So the potential looks good. For a change.
ColSpanker said:
There it is. #1 reason a business will work.
The hard thing as a technologist is that you know computers, and for areas outside that expertise you always look at ideas from an abstract perspective and you have no idea how the business actually works. That's my problem right now, aside from the industry I'm in, I don't have real world experience in a lot of lucrative areas. So I need a partner who knows business but needs technology know-how.
The unsexy industrial supply thing is awesome. I think that all the real money to be made out there is in stuff like this. Gives you an excuse not to tell girls what you do for work, too.
This sounds like a great opportunity, keep us all posted.
Handsome Creepy Eel said:
They're late stage startups. I'd say they're no longer startups once they go public. Also, it's not clear that either is profitable and both are undergoing huge growth at this point (I hope, if they're not profitable and growth is slowing I don't see how they can IPO).
It astounds me what people need and don't think they do. It's all about perception. The floor in the pizza place may look like crap, you offer to hook them up with a cleaner crew and get told:"My guys do it when they're not busy." Duh. It looks like shite, you're losing money because people won't eat in a crappy place, your cooks won't sweep the efffing floor. Are you serious?
On the other hand, get them a cheap source of bread dough, and: "You're my new best friend!"
On the other hand, get them a cheap source of bread dough, and: "You're my new best friend!"
Thought I should give this one a bump too.
Has anyone been pushed out of a start-up once it started raking in the money? The start-up I'm working with has a lot of potential, but, since I don't have ownership in it, I'm cautious about pushing it too hard. What point would be to make someone else's dream a reality then get shown the door by the new owners?
Has anyone been pushed out of a start-up once it started raking in the money? The start-up I'm working with has a lot of potential, but, since I don't have ownership in it, I'm cautious about pushing it too hard. What point would be to make someone else's dream a reality then get shown the door by the new owners?
ColSpanker said:
Not firsthand experience, but I was talking a couple months ago to a guy who was pushed out of his startup. It comes down to ownership. He took on investors who were way more experienced than him. He thought he could use the experience and the business needed the money, but he did get shoved out the door. He wrote it off as a learning experience.
What's the nature of your involvement? Were you a founder? I'd say if you don't have equity, then it's nothing more than a job. If you have equity, then it's worth giving it your all, knowing that yeah, you could lose out to the majority owner, but at least they'd have to buy you out - you'd at least get a little cash from it.
I talked to the founder of the start-up today and explained I would have to have equity in the company before I could move forward. He's OK with that and I don't want much- 5 percent is just fine. It's more of a security thing. I've busted my ass for too many companies over the years not to have some skin in the game. After looking on the website which was recommended here for start-ups, a small amount of equity seems to be standard for new hires.
Although I can't help wondering if someone has tried to pull a PRODUCERS and issue equity totaling up to 800 percent.
Although I can't help wondering if someone has tried to pull a PRODUCERS and issue equity totaling up to 800 percent.
http://www.angel.co
YMG mentioned it on the last page. Some good information there.
YMG mentioned it on the last page. Some good information there.
ElMexicano
Sparrow
Hi gents,
I am about to collect my severance package in July from a large multinational here in Barcelona, I have been reading a lot about startups and I decided it may be the way to go.
I am tired of rigid cultures, processes and even being a high senior-level manager, I always seem to have 16- 17 people above me in the organizational chart.
I have loads of experience with managing hundreds of people, driving large complex global projects, but even with all of my experience and skills I don't know where to start.
I have seen only a couple of websites?
Any advice is gladly received.
I am about to collect my severance package in July from a large multinational here in Barcelona, I have been reading a lot about startups and I decided it may be the way to go.
I am tired of rigid cultures, processes and even being a high senior-level manager, I always seem to have 16- 17 people above me in the organizational chart.
I have loads of experience with managing hundreds of people, driving large complex global projects, but even with all of my experience and skills I don't know where to start.
I have seen only a couple of websites?
Any advice is gladly received.
ElMexicano said:
If you want to work for a startup there is only one website you need:
Angel List - www.angel.co
I've never received so many interview offers passively in my life as I have from Angel List. It got to the point where I had to turn off notifications because it was starting to be a hassle, clogging up my inbox.
You were just working in Barcelona but your username is El Mexicano, so I'm going to assume that you are a Mexican national (correct me if I'm wrong). If I were you I'd work in the US.
Main startup hubs in the US are SFBA, NY, LA, Seattle, Austin, and Boulder.
If I were starting from scratch I'd go work for a company like Rocket Internet, Uber, or Airbnb (or Google, Facebook, Linkedin, etc) for a year or two to establish yourself in a new country and build a network in the tech space in general. I am assuming you are totally fluent in Spanish and English, so the US is a good bet for you. You have a natural competitive advantage in the US market given your work experience and ability to apply yourself in the two most important languages in the Americas.
Once you establish yourself for 1-3 years, get some experience and build a network, you can take off on your own and launch a startup later on.
There are a lot of startups that have the need for bilingual Spanish speakers (I would bet Airbnb, Uber, Taskrabbit, and Homejoy all fit this profile).
Thus, if I were you, I'd do the following:
1. Update your Linkedin profile to fit a startup jobseeker's profile
2. Create an Angel List profile and get as many followers as you can, follow as many people as you can who you know who are also on Angel List
3. Compile a list of all the startups you are interested in working for
4. Compile a list of all the positions you think you are interested in that you also have a competitive advantage for - you should leverage your bilingual background to the maximum degree possible
5. For each of those companies, find the people who would be at your level or one ranking above your level, ideally Latinos or people who are Spanish speaking who you'd be working with, and get in touch with them on Linkedin. Ask them what it's like to work there and humblebrag a bit about your background in Barcelona and any management experience you have. Ideally this will turn into referrals for you.
6. Line up interviews over the phone and then in person. If I had your background and seeking startup employment in the US, I'd target SFBA, LA, NYC in that order.
---
Depends on just about everything. 50k shares * $50.00ea? You do the math. After blackouts etc. Problem is that in the epicenters where this kinda money is being made 2 mill buys you a 400sqft garage (IF YOU'RE LUCKY...) If you get M&A'd well kiss your shit goodbye. This is why it's important to get to know management closely. Know if the company is IBITDA, know the number of outstanding shares, grants etc. I'd say if you're emp# 100 or less you should do OK. Know plenty of Googlers and BookFacers that walked with several mil (as IC's).
It *can* happen. That said get your money in your base comp. Stock is an adjunct and never should be accepted in lieu of base comp.
It *can* happen. That said get your money in your base comp. Stock is an adjunct and never should be accepted in lieu of base comp.
ElMexicano
Sparrow
YMG said:
Thanks YMG,
Appreciate all the information. I have been in Barcelona for ages now and plan on staying here, I have created a profile on Angel and will start following the steps you suggested.
Also, Barcelona is becoming a startup hub, I would like to know if there are any events that I should be attending.
Once again appreciated.
jamaicabound
Pelican
Startups are basically how the CEO or founder wants them to be so startups will be very different by nature as those guys typically march to the beat of their own drum so to speak.
I worked at a startup that was being courted by the same VS's that brought like eHarmony and many other big name sites public. It was a fun working atmosphere, in Chicago most of hte new web startups are all in the same area in River North.
The company I worked for was mostly younger, I would say most people under 30, all our programmers were 19-25 with the exception of the guy who headed that dept.
We had beer in hte office on Fridays on the companies dime, would do breakfast runs, eat lunch together, then go out for milkshakes at like 3pm and lots of people would do happy hours afterwork. It oftentimes tends to be a work together play together type atmosphere, some people love that and for a while I did but later I was kind of like I have my friends at home I work with you guys, I didn't really wanna spend all my time outside work going to happy hours and being on softball leagues.
One thing you'll either love or hate is unlike big corporate jobs where you have a very specific duty at a startup lots of times due to being smaller, newer, more agile your kind of a jack of all trades and could be doing all types of stuff.
The startup names you through out are actually pretty large and established but with a true startup your job security isn't that secure. The startup I was working at got hit really hard by the 2007-2008 recession and even guys who helped found the company were getting tossed to the side. I started as an intern, became a contract employee and was really freaking out about everyone else getting rich when they went public and me being left out in the cold so wound up getting another offer from a large travel site not really intending to take the job but just hoping it would put their feet to the fire and make them hire me nad they told me good luck at my new job so that was the end of that.
If you have any more specific questions feel free to ask and I'd be happy to answer
I worked at a startup that was being courted by the same VS's that brought like eHarmony and many other big name sites public. It was a fun working atmosphere, in Chicago most of hte new web startups are all in the same area in River North.
The company I worked for was mostly younger, I would say most people under 30, all our programmers were 19-25 with the exception of the guy who headed that dept.
We had beer in hte office on Fridays on the companies dime, would do breakfast runs, eat lunch together, then go out for milkshakes at like 3pm and lots of people would do happy hours afterwork. It oftentimes tends to be a work together play together type atmosphere, some people love that and for a while I did but later I was kind of like I have my friends at home I work with you guys, I didn't really wanna spend all my time outside work going to happy hours and being on softball leagues.
One thing you'll either love or hate is unlike big corporate jobs where you have a very specific duty at a startup lots of times due to being smaller, newer, more agile your kind of a jack of all trades and could be doing all types of stuff.
The startup names you through out are actually pretty large and established but with a true startup your job security isn't that secure. The startup I was working at got hit really hard by the 2007-2008 recession and even guys who helped found the company were getting tossed to the side. I started as an intern, became a contract employee and was really freaking out about everyone else getting rich when they went public and me being left out in the cold so wound up getting another offer from a large travel site not really intending to take the job but just hoping it would put their feet to the fire and make them hire me nad they told me good luck at my new job so that was the end of that.
If you have any more specific questions feel free to ask and I'd be happy to answer
Yeah, startups have gotten a sort of bad rep after some of them had bad IPOs, since facebook took so long to IPO and it had failed to spike. Its too risky. But at the same time depends on the economy and if there are a lot of unemployed people willing to take the risk and work for peanuts.
Has anyone worked for startups recently?
The pay must not be that great and its probably easier finding a good job at FB or Google if you have the chops to launch your own startup. I've got lots of ideas but they usually go nowhere and its a pain trying to get an audeince or traffic.
But if VC money is still there, it might be a fun thing to try for a year or two.
I've worked for a few including currently over the course of the last 20+ years. I also got a big stock payout on one of them which I consider a lucky break.
Startup life (and when I say startup I'm assuming you mean IT) is great for a young bachelor. The work-life balance sucks if you have a family or other interests but is fine if you really gel with your coworkers. The SJW critique about "bro" culture is (or at least was) true when it was peaking during dot com boom 1 and 2. Startups tended to be almost a direct outgrowth of a nerdy frathouse with a very blurry line between professional and personal life. While in general it's a meritocracy, those who developed strong social bonds with the movers and shakers wound up riding coat-tails to bigger and better things, often getting jobs way beyond their qualifications. It's sort of like Kathleen Kennedy syndrome. Get coffee for the boss long enough and you become the heir apparent. Those that succeed tend to lean more heavily on meritocracy than cronyism although some just get lucky and the people behind it were heaped with undo praise. If things have become havens for SJW-ism then I haven't been witness to it personally. Note, none of the startups I worked for were located in silicon valley, but most were in Southern California.