

Ask HN: Meeting with an investor in few hours, what is your advice HNers? - synto0day

Hello,<p>Please excuse me for creating this temporary account to place the question, I just wouldn't want to be linked to this question.<p>So, now my question I need advice. In few hours I am meeting with a guy from a hedge fund, he is interested to investing as angel or with the hedge fund, as I had a meeting with him already and he wants in. My question is a bit complex one, as it involves two issues.<p>The first it's an issue with my supposed to be future co-founder. I expected that he'd manage finding the investor or at least setting up meeting with prospectives. Instead I've done that (the 2nd meeting tomorrow with an investor who is really interested) and please note I'm also the technical founder. Also, I had the initial idea and identified the opportunity, although this guy seems to have a talent at presenting others people ideas as his own. Please note he is not technical at all, but I accepted that, assumingly he would do all the business stuff, instead he dissapointed me, as he really didn't do much the last 1.5 months as I was insisting we go full time on this as soon as possible. At this point, I am serious about finding a way to avoid getting involved with guy. The only thing I am attached with him is that he knows big part of the core ideas (I know the execution pitch so please save me from one. I do have a significant code base I am contributing, and with the meaning of core ideas I mean validated ideas).<p>So, with this small bits of information, what would you do HNers concerning with a prospective co-founder he doesn't seem honest and failed your expectations? I even have some e-mails with significant questions he left unanaswered. So, imagine that.<p>So, concering the valuation now. Like I said, I considered my prospective co-founder's significant contribution, in the initial phase, to finding prospective investors as he made believe he would be able to do that in short time. Instead, he delayed me and I am sure he'd delayed me more hadn't I do anything to find an investor myself. So, he gives me the feeling that he is not honest. Therefore, even in a valuation at this level if the investor would take up to 20-30% at a valuation of 500k, and assuming any kind of contribution (of the non-technical co-founder) begin after the software is rolled out (estimated after 5-6 months), how is it reasonable to excuse his percentage, which I was willing to be equal, but I am sure the investor will find awkward.<p>So, at this point I am considering changing the location of the meeting with the investor and go to it alone, telling him it was cancelled.<p>What are your thoughts HNers?
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jaxn
I wouldn't partner with him. I am assuming you are already incorporated, is he
a partner or not? If not then I don't see a reason to not cut ties.

If you do decide to do business with him, vest his shares.

Good luck with your meeting :)

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synto0day
I'm already incorporated yes. But hopefully he is not partner.

thanks

