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VentureHacks: How to Pick a Co-founder

51 pointsby christonogover 15 years ago

9 comments

mixmaxover 15 years ago
The primary problem of finding cofounders isn't seeding out the bad ones, it's even <i>knowing</i> someone you might want to found a company with.<p>According to the post your cofounder should be someone of roughly the same age and financial standing that you have a history with, have aligned motives with, has incredibly intelligence, energy and integrity. Oh, and it has to be someone that respects you and that you respect as well.<p>Personally I don't know anyone that lives up to all of these criteria, and I doubt that most people do.
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ramanujanover 15 years ago
FYI, this issue probably has personal relevance for the author (Naval Ravikant). He was one of four founders who were left out in the cold during the Epinions IPO.<p>The fifth got $20 million.<p><a href="http://query.nytimes.com/gst/fullpage.html?res=9F00E5D7113DF932A35752C1A9629C8B63&#38;sec=&#38;spon=" rel="nofollow">http://query.nytimes.com/gst/fullpage.html?res=9F00E5D7113DF...</a><p>But the founders of Epinions -- Nirav Tolia, Naval Ravikant, Ramanathan Guha, Dion Lim and Mike Speiser -- have learned that success does not necessarily mean that a company's creators will be rewarded.<p>August Capital and Benchmark Capital, two venture capital firms that invested $4 million each to help start Epinions in April 1999, profited handsomely in the public offering. They had both made additional investments, and each now owns a stake in Shopping.com worth roughly $60 million. Overall, Shopping.com was worth $750 million at the close of the market on Friday.<p>By contrast, four of the five founders of Epinions did not see a dime from Shopping.com's public sale -- their shares in Epinions were rendered worthless when it merged with DealTime.<p>''What the Epinions story demonstrates,'' said Paul Saffo, a research fellow at the Institute for the Future, a Silicon Valley research group, ''is that the golden rule applies even in Silicon Valley: the people who have the gold, rule.''<p>Of the Epinions founders, only Mr. Tolia, who took over as Shopping.com's chief operating officer after the merger, fared well in the offering. His shares were worth nearly $20 million at Friday's closing price.
dannyrover 15 years ago
My favorite from the post:<p>"Partner with someone who is a rational believer that nice guys finish first"
fjabreover 15 years ago
Mark Zuckerberg wasn't the only founder. There were several for Facebook.
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bjelkeman-againover 15 years ago
"One builds, one sells", the organisations which I started that worked had this at the start, or they started working well once they had it.
niallsmartover 15 years ago
One difficulty is that qualified co-founders are probably already looking for _their_ idea's co-founder :) Quoting a @venturehacks idea for solving this: get them to work part-time on your startup until you win them over!
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smanekover 15 years ago
<i>Technical founders who don’t sell also use bad proxies (”Harvard MBA!”)</i><p>So, what's a better proxy for figuring out who a good business/sales co-founder is? (I ask as a tech guy with a Harvard MBA co-founder ;-))
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CSundayover 15 years ago
Thanks for posting...<p>I will definitely need to follow some of these guidelines in order to find a co-founder, and I mean QUICKLY.<p>Excellent post!
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chris100over 15 years ago
Excellent post. Also clearly explains why 2 is the ideal number, and why you need history with your co-founder.