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| | Ask HN: Have funds, want to create a startup | | 4 points by vasilipupkin on May 21, 2017 | hide | past | favorite | 16 comments | | through a fortunate set of circumstances I have enough funds to fund a startup at least through the initial stage and can relatively easily raise more funds through my network. What I need is: a) 2-3 top notch engineers who are interested in doing something new b) a great idea that I would be passionate about. I have experience in angel investing and even some success. Does anyone have any suggestions, interesting ideas, something to brainstorm about? I have a few of my own, but nothing concrete enough that I would be ready to jump on right now |
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But do you intend to put in funds so that your co-founders have a salary at the outset? That would concern me (even though there are legal reasons to actually do that very thing). The willingness to take the risk of foregoing salary and stability to make a run at something will tell you 2 things about co-founders: 1) They are risk takers (which, to a reasonable extent, is something you want); and 2) they believe in the idea. Both of those things go away when you throw money on the table on day 1.
My take on this - look for ideas and potential co-founders without putting the money thing out there at the outset. You want to have a co-founding team that you trust and who trust you, not a team that's attracted to you for your money. The attraction of instant funding can easily cloud your potential co-founders' judgment as to whether you folks could all work well as a team. That could be a potential disaster.
Some instant funding will give you a leg up. But it can't make up for a mismatched founding team.