@umbrabates Well he did lie, but is there any other issues with him? Not capable enough or something like that?
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Co founder fraud
- Thread starter umbrabates
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- startup y combinator
umbrabates
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popcorngiggles83
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@umbrabates Sounds like he’s very scrappy and smart, might have had some bad luck but could prove his worth
mrassassin777
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@popcorngiggles83 It doesn't matter how talented he may be if you can't trust him.
@mrassassin777 To be fair, this kind of behavior is recommended by many VCs including YC. First Round Capital put out a PMF blog a few days ago in which one of their early founder stories directly described fraud to get early customers. Many startups engage in fraud early in their lives.
thedavedave
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@popcorngiggles83 Lying is not scrappy or smart.
@thedavedave Some people look up to fictitious role models like Mike Ross
lillian2014
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@umbrabates So you’re saying he has FAANG listed on his LinkedIn and the person you chose to verify with was the reference he provided you?
I’m guessing you haven’t known him personally for long?
I’m guessing you haven’t known him personally for long?
@umbrabates Part ways.
@lillian2014 Not really, they care about founder dynamic, and it is not his job to do a whole DD operation. There are plenty of founders that met months before applying and get in
umbrabates
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lillian2014
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@ansres If you’re pursuing an investment of $500K, it absolutely is his job to validate his cofounder….because clearly if you don’t you run into predicament as his. If you’re not going to validate your cofounder, how are you going to validate anyone else who wants to work for/with you? Why should anyone trust your judgement?
It’s possible to have both great founder dynamic and extensive vetting.
It’s possible to have both great founder dynamic and extensive vetting.
@lillian2014 And that’s absolutely fine, We all make mistakes and the best of the founders would learn from it and keep going at it. YC has seen all kinds of shits there can be among the founders and it’s always better to be open with them about the situation.
urbanredneck
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@umbrabates Is it possible to apply later with a new cofounder - wouldn't he already own a substantial amount of the company?
umbrabates
New member
@urbanredneck Long story short I have a ton of leverage. He can’t do anything. Has decided to step back amicably if needed.
All equity back.
Code base will be fine.
All equity back.
Code base will be fine.
biohazardfan03
New member
@umbrabates Make sure all of this is finalized with a lawyer, don’t just take their word for it and forget it.
@umbrabates Looks like you are saying the story for more attention than actually seeking advice. If you have lawyers lined up, all leverage, all equity, vcs and angels then what are you worrying about. Even if you get in YC, you are not taking the person.
urbanredneck
New member
@umbrabates probably makes sense to do that then