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--- title: "Startup" source: https://www.jemoka.com/posts/kbhstartup/ --- Smol companies Tips A well-run startup should have 18 month of cash planned, and have a runway of 6 months to ensure you can always get acq-hired and “bail out” Myths of Startups “Joining Big Tech” vs. “Starting a Startup” are not binary options In between these poles: joining an existing startup Myth: “90% of startups of fail” True statement: 90% of SMALL BUSINESSES fail. Venture backed tech startups are very different world: only 1% of small businesses are venture backed. Roughly: 1/3 of VC backed startups “fail” 1/3 fail 1/2 return the money (nothing happens) 1/6 exits + drive returns Myth (kinda): “you are under paid” If you JOIN a startup, the small amount of compensation corresponds to betting on yourself in a similar way. If you are negotiating your compensation, you should try to get MORE EQUITY and less cash. Anatomy of a Startup “Fail” Most startup failures looks like an acqui-hire. Acq-hiring results in investors Investors loose money Employees get a minor payoff