Tuesday, October 12, 2010

Techstars: Demystifying working of start ups

1. Panel discussion : eric (founder and ceo onestart), Alex (founder and ceo next big sound), Paul (ceo or orbatics)

Paul : personality type: (no 9-5 job), ready for abuse, underpaid, overworked and should love it

Eric : "starting a startup is mental illness".

Alex: Should live with your coworkers. work life balance is zero


Q. Why is your product disruptive ?
Alex 1. speed , 2. quality :
Eric: core mental illness is optimistic. world issues dont matter. you have an idea that you keep working on it. no matter what happened.
Paul: Changed direction for raindance from voip to video conferencing to meet impossible revenue target

Q. what can new employee expect
Eric : over work, underpay, no benefits :
- every employee can redefine what the company does. employees learn the ropes so that they can fulfil their dream. you get to employee # 1-50, not employee #13232. you can make a difference. gauranteed to fail in big company
Paul : autonomy , drive and purpose is the main motivation

Q. what kind of jobs for the non technical
Paul :business developer, sales, product manager after technical
Alex: first 3 hire technical then sales ( tech first and then sales
Eric : core team : technical+product , but also need a UI skillset, it matters

Q. what type of mentoring activity does startup provides
Paul : no handholding, might go to conference, no training
- what you learn : how to prioritize, how to work togather,

Q. what should student, FTE expect, why should they join startup
Paul : startup should be attached to your life. startup shuld become your life and that way they would be happy. its a different lifestyle, its not 8 hr job. if you want to put in 8 hrs and then do something else. startup is not for you
Eric: if you are in abig company couple of levels above you have no idea of whats going on in your life. a=in startup you knhow everything. you know how much money is in bacnk, its all transparent
Alex: the earlier you join, the bigger your equity stake will be.

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