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To postpone full-time equity negotiation after completing the part-time contract? #1

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marsrobertson opened this issue Feb 9, 2020 · 0 comments

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@marsrobertson
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@marsrobertson marsrobertson commented Feb 9, 2020

Genuine dilemma A:

  1. Continue working without an agreement, focus on giving value.
  2. Pushback and require an agreement.

Genuine dilemma B:

  1. Keep the agreement to the minimum
  2. Loads of if-else clauses, future-proof it

I'd like to focus on adding value.

I'd like to keep the negotiations to the necessary minimum.

I'd like to establish a balance - fair and transparent agreement that ensures long-term prosperity and aligned incentives.

(no need to be the highest-paid employee for a couple of weeks and then being the first one in the firing line)

Thinking about employee equity

image

https://techcrunch.com/2020/01/09/deciding-how-much-equity-to-give-your-key-employees/

At a company’s earliest stages, expect to give a senior engineer as much as 1% of a company, the handbook advises, but an experienced business development employee is typically given a .35% cut. An engineer coming in at the mid-level can expect .45% versus .15% for a junior engineer. A junior biz dev person should expect .05%, which is the same for a junior person coming in as a designer or in marketing.

Kleros equity allocation is different from a typical startup:

  • all numbers known upfront (full transparency)
  • no preferential liquidation rights (all token holders are equal)
  • liquidity (maybe not a gigantic market depth but can easily trade)
  • operating in the sector known for rapid growth (it's crypto baby)

In the initial version of the document, I have suggested 1%.

Realizing that anything above 0.5% is already a healthy amount. This is because Kleros is not that early stage anymore, I'll be taking less risk than existing team members.

To make more informed suggestions I'd need to see the existing cap table.


Many options, many outcomes, many potential scenarios, some genuine dilemmas mentioned at the beginning...

To many unknowns.

We need to start somewhere, my intention is to add value, do the meaningful work, 10 hours per week should really be a no-brainer...

Escrow - fast, cheap, borderless, censorship-resistant - this can become the killer app, the reason why we onboard next million users the new financial system.

😎

marsrobertson pushed a commit that referenced this issue Feb 9, 2020
marsrobertson added a commit that referenced this issue Feb 9, 2020
Closing #1
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