Things to Beware of This July 4th Weekend

being distracted from your work at the officeStart ups.

What makes someone a “co-founder,” vs. a mere employee who makes a key, early contribution? This is not just semantics; it matters. After more conversations with people present at Tinder’s birth this week, I’m convinced that Wolfe has as much right to be called a co-founder as the others. …

Munoz started to say that Rad hadn’t done this solely because Wolfe was a woman. But I asked him if it wasn’t the case that Rad had shunted aside a good, if not excellent, female employee in favor of someone whose main qualification was being his “bro pal.” Munoz laughed. “I think that’s a fair interpretation of events,” he said.

“When I left [Tinder], I wrote Whitney a very long e-mail, telling her to believe in herself, that if she hadn’t done what she did for Tinder, it wouldn’t be where it was today,” Munoz said. Wolfe says in her lawsuit that after breaking up with Mateen, she saw her co-founder title “stripped away because she is a ‘girl,’” and she left the company in April 2014, after a Tinder party at which she says Mateen called her a “whore” in front of Rad.

Also, start ups:

One staffer told Business Insider many employees had individual meetings with HowAboutWe founders Brian Schechter and Aaron Schildkrout on Wednesday and Thursday in a glass-walled conference room. During those meetings, the staffer said they were notified they could be fired due to budgetary restrictions when the company transitions to IAC. The founders relayed that after Monday they would know “how many people can stay.” The meetings, which were meant to prepare employees for potential next steps, left employees feeling uncertain about what Monday will hold. “You could just see people crying,” the staffer said, later adding, “It was a very slow, dragged out process of notifying people, which is awful.”

One of the three who thought they were staying told the staffer things changed when they got a text from Schechter Thursday night at about 10 p.m. asking for them to call him. When they called him back, the staffer said he immediately answered with a question. “How much are you getting paid again?”  They told the other staffer they informed Schechter of their salary, which included a recent raise. When he heard this number, they said Schechter changed his tune and said, “Never mind, I forgot we gave you a raise. I don’t think we can make that work. Sorry.”

Bears. Sharks. And, of course, start ups. (Of the three, the only one I’ve been ravaged by, so far.) Feel free to share your own start up, bear, or shark-related horror story in the comments.

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3 Comments / Post A Comment

HelloTheFuture (#5,275)

The closest thing I have to a startup related horror story is the time I met with this woman in Los Angeles who was starting up a new project that sounded fairly interesting… of course after we go through all the pre-interviews and the actual interview (where I bought my own coffee) she tells me that she expects her staff to work for free until the startup starts turning a profit.

I have no idea if that is “standard” for startups. I do know I turned the gig down, and her idea did not take off AFAIK, so I think I made the right choice.

Currently working at a start up going on two years, and I would say only do take on the risk of being an early stage start up employee if…

a) You are paid a salary, and you get your paycheck regularly, without an issue. (Have heard some industry horror stories of “paychecks are coming” being repeated week after week to no avail) I would recommend checking to see how and how much the start up is funded… that will tell you a lot about whether or not you can actually depend on a paycheck.

b) Equity is offered annually and/or as a performance bonus. The stress is not worth it if you don’t stand to at least partially benefit if the company is a success.

c) You have a safety net in case the ship sinks at short notice – i.e. savings cushion, understanding parental units, a spouse/partner with a steadier gig, etc.

d) You are a crazy person and you love the challenge of doing something totally new in a totally disorganized environment for under market pay.

NoName (#3,509)

@JNC Musings Factory I have worked in so many startups over the years, and what I would add to this is if the founders have made their names in big corporations and are now day-to-day managing your startup, be wary. Most of them don’t seem to understand there’s a huge difference in skill set between a corporate vice-president and what amounts to a well-funded small business owner.

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