On Startups:
I am getting an increasing amount of email from folks interested
in starting new ventures. (After the third time in one month, I
added this section.) This is understandable: a startup is one of the most
rewarding and exciting ways to spend a lot of time, you learn things
you can't learn anywhere else, and with luck you'll end up with a success.
I am not available to join new ventures, and while I know a number
of talented people, they are (unsurprisingly) all quite busy. Some might
be willing to join in a startup if the right opportunity comes up, though.
I make introductions on a case-by-case basis. You need to know this:
- Talented people I know aren't interested in vague ideas about a
"revolutionary product" or "disruptive technology" without a
clear description. If you aren't comfortable disclosing
your ideas, you probably won't be successful in building a team.
I have never seen anyone build a successful startup who wasn't
constantly talking about their startup ideas. I've heard this
said about Bill Gates. I saw it personally with Mark Zuckerberg,
whom I remember talking about his startup ideas openly long
before Facebook worked out so well.
- You don't need to worry about people stealing your idea.
If it's a good idea and you have the passion and
skills to see it through, people will want to team up with you,
not steal it and exclude you. If you don't have the passion
and skills, then you'll soon discover that other talented people
seldom want to build your idea for you (unless you pay them well.)
- If you have even a provisional patent application filed, you
can tell anyone anything you want. If you don't, you don't lose
any patent rights unless you publish your idea or offer it for sale.
- Your idea alone is not worth a majority equity stake once
others put money at risk or contribute a lot of their time.
Unless you already have a significant investment of time/money
in the project, plan to make arrangements so that everyone receives
an equal share according to their contributions.
(I like to suggest founders "earn" their equity as they work together,
so if someone leaves early you don't have to take any away.)
- Getting sued is the ultimate proof that you've done
something really successful. There are great stories about
Intel threatening NetApp with a lawsuit; the 2007 Facebook suits;
and many more. You should be delighted if you're successful enough
to attract plaintiffs.
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