Patrick Campbell
๐ค SpeakerAppearances Over Time
Podcast Appearances
Like they were never like full time in the business, but I think that was like something that would have saved a lot of like, um, like a lot of calories and just a lot of frustration was like setting really clear expectations because we messed up like
the equity structure.
We basically were like, well, we're all co-founders.
Let's do thirds, right?
So these guys who are never a day in the business all of a sudden had a lot.
And then once someone has something, it's really hard to get it back.
And so thankfully, over time, they were really earnest on keeping things going.
And so
They basically became, their stakes are more like angel investor stakes, if that makes sense.
And so everything got sort of recapped, but not in a true recap fashion.
But yeah, that was one thing that I would say is founder vesting, always do founder vesting.
Always, always, always, everyone should vest.
Um, I think like it will work if you don't do that, but I think that helps a lot.
Yeah, that's what we do.
We actually at ProfitWell, the one thing that we did is we did like backward bending vesting.
So it was 10, 20, 30, 40.
It's kind of like how Amazon used to do it.
So like you only get 10% of your shares, allocated shares when you get over that one year cliff.
And so most of your shares will come into the third and the fourth year.
We did 25, 25, 25, 25 vesting at first.