Short excerpt from a YouTube conversation (uploaded by Mike Andes) where multiple speakers discuss risks of informal 50/50 business partnerships, uneven contribution among co-founders, extreme work hours in startups, and the tension between emotional and numbers-focused approaches when launching a business.
Literally over coffee or beers, someone will go into a contract with someone that they own 50% of the business with somebody else.
Banked on the fact that we were a couple college kids that lost our jobs and we were just trying to work.
Scott and I dropped out of college. Well, Scott finished college. I did, which is funny because I was a straight A student.
This can lead to an absolute catastrophe, especially when you don't think that your partner is carrying their side of the bargain and doing most of the work.
Don't let myself get caught up in the 90 hour work weeks or even more than that. Sometimes I'm.
Basically a fireman for the job.
People who they want a 40 hour work week I'm jealous of because they're happier than I'll ever be.
It's like a marriage. And you got to understand that not every day it's like a 50 50.
When you start your business, you don't need to focus on the emotional side of things. It's strictly numbers, it's strictly generating revenue.
