So much power has shifted from VCs to founders. The next logical step is a shift in power from founders to employees.
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One of the most imbalanced power dynamics is that between founders and the earliest employees. Early employees take on similar risks to founders but with a tiny fraction of the upside. I've always felt this should change; perhaps it'll be the first place you see this shift.
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How do early employees take on similar risks to founders? Are founders not the one's bootstrapping until the first round?
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if they are bootstrapping, that should absolutely be reflected in the ownership that founders have (and perhaps even in preferred stock for the founders' investment, as well as common). many venture-funded companies are not being built that way, with first rounds happening early.
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Outliers. Most founders struggle with no salary bootstrapping. Some raise a tad, the more privileged end up raising the big rounds you hear in the media. Stop reading the rubbish media and speak to a broad range of founders.
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I wonder how much selection bias plays a role here. If you speak to privileged #founders only your views of early stage are skewed. #startuplife

7:43 PM ยท Jul 29, 2021

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