This group is for tech startup founders and software developers to connect! There are a few possible purposes for this group:
• To help developers find a good tech startup to program for in exchange for equity in the business as a co-founder
• To help developers find a good tech startup to program for in return for salary
• To help developers find a good tech startup to program for in return for a combination of salary and equity
• To help non-technical tech startup founders find good developers who will program for equity, salary, or a combination of the two
• To help developers (who already have an idea or a business) find businesspeople who can help them run the business side of things for their venture, or be advisors for them
• To provide a space where developers can help non-technical tech startup founders better understand the developer side of things, such as languages, platforms, jargon, and other basics
• To provide a space where tech startup founders can help less-business-savvy developers better understand the business side of things, such as sales, marketing, user experience, finances, seeking investors, legal things, logistics, customer service, hiring, training, etc.
• To be more specific, the format of the meetups will likely consist of a section where the developers can ask the tech startup founders questions, and then a section where tech startup founders can ask the developers questions.
Insights (from both perspectives) on developers working for equity:
From the perspective of the developer:
• Programming for equity is one of the absolute BEST ways for a developer to turn him or herself into a multi-millionaire.
• Rather than taking a high salary, developers can program in exchange for a portion of ownership in the business (assuming that they are capable of paying their bills in other ways).
• Example 1: A developer programs for a tech startup in return for 10% ownership in the company. Later, the company sells for $10,000,000. The developer is now a millionaire.
• Example 2: A developer programs for a tech startup in return for 5% ownership in the company. Later, the company sells for $100,000,000. The developer is now worth $5 Million.
• Example 3: A developer programs for a tech startup in return for 20% ownership in the company. Later, the company sells for $1 Billion. The developer is now worth $200 Million.
• Programming for equity may or may not pay off, and it depends upon the business skills and dedication of the team of entrepreneurs who are running the business (there is also a factor of luck involved).
• If it doesn't work out, try try again. If a developer continues to program for equity in startup after startup even after various companies have failed, eventually he or she should hit it big.
• Tip for developers: Work for startup companies that are involved with Y Combinator (the San Francisco-based startup accelerator) in any way, or that have received a venture round of funding.
From the perspective of the tech startup founder:
• You may have a lot of ideas that sound great to you, but no matter how smart or visionary you think you are, you will never know if your idea will be embraced by the marketplace until you build and test your MVP (Minimum Viable Product).
• You may have to test a few ideas (in their most cheap and basic form) before you finally hit upon something that is well-received by the market (this is called product/market fit).
• If you have to pay developers for all of this testing, it can be quite expensive. You'll have to spend your own money or find investors who really believe in you and your developers, and then risk the investors' money carefully.
• Often, tech startup founders prefer to take a different route, by finding a great developer or team of developers that is willing to program in return for equity in the business.
• This route allows the tech startup founder to bypass risking any of their own money, or to bypass trying to find investors (which is typically anything but easy).
• In the long run, the tech startup founder is potentially spending millions and millions of future dollars by giving equity to a developer, but it may be worth it if the tech startup founder does not have a lot of financial resources at the time of startup.