Cofounded a startup, need advice

[zahmata]

So I cofounded a tech startup with two other people that is now appraised at 7.5 million dollars - the problem is, I no longer find the work we're doing fulfilling (and I have a few issues with the people I started it with) and I would rather pivot and focus on other projects. If I leave now (after 5 months), will I still be able to list this on my medical school application? Should I tough it out for optics? I'm concerned that not staying involved with it for longer will give the wrong impression - also, I'm not sure if I'd be able to use something that would be a bit of a dated activity by the time I apply junior year. I just completed my freshman year of college and am now about to start my sophomore year.

---

Members don't see this ad.

 

[syn1]

For applications, it's honestly how you spin it. You could say that you worked at a startup for 5 months. Or you could say you grew a company from $0 to a $7.5MM valuation in only 5 months. It sounds incredible.

If you're actually being serious, there are other things to consider. What kind of equity vesting agreement do you have? Most companies in SV have a 1-year cliff, so unless you awarded all the equity to the co-founders and plan on diluting yourself, you walk away from your company with nothing. And what impact on the company would leaving now have on your other co-founders? If they stop working on it, 33% of 0 is still 0.

 

[zahmata]

I'm actually prepared to walk away with nothing - I've thought about the prospect of the company continuing to grow without me and I'm alright with that. We're still running lean right now and we've barely begun to pay ourselves. Me leaving now would definitely leave them at a slight disadvantage, but I feel that because of the external circumstances it may be for the best. Thank you for your reply! It gave me a lot of perspective on how I could spin it on my applications.

 

[Tenk]

My advice would be ride that gravy train while you can, establish the business, and sell your share or keep your foot in the door. Assuming you’re not already in your 40s, you have plenty of time to do other things with your life and then come back to medicine. The grass always seems green and sparkling with a fresh morning dew when you look at medicine from afar. When you get here you realize the grass is green because it’s covered in bile and your job is to mow the grass while being chased by some asshat in a suit telling you what a crappy job you’re doing all the while the grass is trying to sue you if you don’t cut it right.

Whatever you think this job is, it isn’t. It’s a job and it’s a hard one at that. However, you can get to this job even into your 30s/40s only in your case you’d basically be doing it for fun since you’d already have enormous equity and wouldn’t need to be financially bound to your job like so many of us docs.

 

[deleted480308]

If you walk away from an owner’s cut of 7.5mil you are too dumb for med school

 

[CyrusHabs7695]

Ill take your spot if you want


Sent from my iPhone using SDN mobile