11 November 2007
It may be delirium setting in from the pace (and progress) of building a software company in one weekend, but I woke up this morning thinking about something important.
We made a fundamental decision to discount a Startup Weekend precept… no equity would be allocated in advance for OUR startup weekend projects. Our thinking is that it’s easy to come hang out with 70 random people for a weekend of your time and play house. It’s much harder to actually remain engaged through thick and thin, much harder to balance the workload and not have freeloaders, and much harder to avoid feature creep because you’ve got the extra resources (which NEVER really happens in a startup).
Micah Baldwin piped in on Code for Equity… Or Not with the following:
“Personally, there has to be some sort of thank you for the weekend, and a couple hundred shares in a company that may not ever go anywhere seems a way to do it. Its almost like having a stock certificate from a dot com, worthless but potentially interesting.” – commented by Micah Baldwin
I’m not into allocating my time for something “worthless”. It’s disappointing that anyone would. Unless, of course, the purpose is to just participate in some grand experience.
Micah opined further, elsewhere:
“… there were several people in Boulder that participated for the full weekend that I wish didnt, and several that I wished participated more. Im sure there were people at the Boulder event (I got 4 complaints! I dare anyone to beat that record!) that wished I didnt get equity.
If its going to be an event, then it should be just an event. It should not matter whether you get equity or not. And who judges your worth? Andrew? He would shoot himself if he had to do that. Who becomes the equity police?” – blogged on Learn to Duck
From where I sit, I look across to our founding team and see an entrepreneur that would have (1) continued to prayerfully consider getting started on his idea, or (2) paid a vendor far too much money to create a website that didn’t have the business issues properly vetted. It would have been only one of many “MySpace for Christians”. Instead, Mr. Sutton has defined a web site that should surpass anything similar. And, because of the hard work by only a handful (a total of about 30 participants flowing through the 2nd weekend with a core of about 10 — which sounds like a *real* startup, eh?) of hardworking volunteers, this company will actually be capable of a launch!
I’m much more satisfied by watching something great happen because of several dozen hours of VOLUNTEERED hard work than being “paid” in “worthless” stock for a piece of software that is forever stuck in beta!