On Sun, Jan 13, 2008 at 01:43:11PM +0200, Marc Volovic wrote: > I am somewhat less keen than Geoff to suspect you of trying/hoping to > cheat a prospective CTO. In fact, I am sure you have every intention of > paying the CTO. What I do fear is that you do not really understand the > position and job of a CTO.
I'm sorry if I came off that way. I have no suspicion that he is trying to cheat anyone. What I do suspect, is that he is not aware of the chance of his equity being of any value and that the value of his promise is very small, although it is made with the best of intentions. I did not say anything before, but also noticed the "young" company which is a code word for inexperienced entrepreneurs with little or no experience beyond an IDF unit here, or an MBA in the U.S.. It works fine for an inexperienced or related angel investor, but any professional fund will demand someone with a track record to be in charge. Besides your wonderful definition of a CTO (I avoided giving one), going to a VC saying "last week I was a LAMP programmer, today I am a CTO*" simply does not work. If they really like the idea and the team, the first thing they do is make you hire a real CEO who will hire a real management team. BTW, if you think your equity dilutes going with the VC, wait till the "hired gun" CEO gets done with it. Geoff. * or the old joke from the 1960's "Last munth I cudnut spel prugramur, now I are wun". -- Geoffrey S. Mendelson, Jerusalem, Israel [EMAIL PROTECTED] N3OWJ/4X1GM IL Voice: (07)-7424-1667 U.S. Voice: 1-215-821-1838 Visit my 'blog at http://geoffstechno.livejournal.com/ ================================================================= To unsubscribe, send mail to [EMAIL PROTECTED] with the word "unsubscribe" in the message body, e.g., run the command echo unsubscribe | mail [EMAIL PROTECTED]
