5 months ago, I joined a technology startup aiming to revolutionize mobile healthcare. The founder ran a lab and the cofounder was a doctor with impressive credentials. The vision was big and I quit my job to work for no pay without a formalized position. We converted the founder's basement into an office, got an interview with YC, and few $100K investment and few $M pre-money valuation from 500 Startups. From the outside, we're rockin' & rollin'<p>As can be expected, internally things are much less smooth. I am the only full-time person (85+ hours/wk), the doctor cofounder doesn't really participating (~5 hrs/wk, 6% equity) and the main founder is scattered between his lab & another company (>60%). He's great at selling the vision and getting ppl pumped up, but is not present much for day-to-day tasks like customer discovery, product development, pitch materials etc. He just offered me 0.5% for my contribution over the last 5 months and the title of COO & 1st employee (previously PM).<p>I have a feeling that this dynamic is not right. My last startup disbanded after we couldn't resolve the unequal contribution problem, and I don't want to repeat that mistake. Of course, I should have gotten equity in writing sooner- but that issue might be rooted in a deeper problem. I feel like a solopreneur most of the time, doing most of the heavy lifting to build the care of the company, not like a first employee with little impact on the company. If I leave, progress will nearly come to a halt. I want to stay, but I'm concerned about this dynamic.<p>Do any of you have a similar experience or can offer some advice as to what I should do in this situation? Thanks so much in advance! :D
Your equity shares should be much more equal. You should have had legal docs in place, been getting paid.<p>My experience has been people from the professional services (docs, lawyers, RE) have no clue about running companies or being fair to their partners. If they aren't helping, they aren't really partners. Ideas are worthless, execution is what counts. Does not sound like these folks are executing or going all in on their ideas.<p>Negotiate or run. They should be full time too, with equal equity, or give you the majority stake.<p>If they insist on their current terms, they will likely never succeed with anyone, so you should move on.