I agree that the financial and legal situation is as you say. (Having written financial trading software, I know how to price a deal.) But that's the skeleton. The flesh is the human relationships. I personally feel more responsible to the people I hire than to the investors, in that their commitment is larger and the failure hits harder. But my sense of obligation also extends to the investors, and in all cases it extends beyond the legal minimums.
I think there are practical reasons one might behave that way: Silicon Valley is a small place, and one's reputation has a lot of value. But for me it's deeper than that: collaborative projects come with a sense of obligation to one's collaborators.
I think we're in a silly place now, where we're both vociferously arguing a point we probably agree on. You have to do a good job, yes. You can't phone it in. But you don't have to work routine 70 hour weeks. You don't owe that to anyone.
You're right... but start-up culture glorifies the long hours and epic all-nighters[1], that to do otherwise would have you tarred a slacker[2].
[1] "One of the most pervasive myths of startup life is that it has to be all consuming. That unless you can give your business all your thoughts and hours, you don’t deserve success. You are unworthy of the startup call. This myth neatly identifies those fit for mission: Young, without obligations, and few if any extra-curricular interests. The perfect cannon fodder for 10:1 VC long shots." http://37signals.com/svn/posts/3106-all-or-something
Yep. I'm not sure how I got people riled up, but I don't think I'm saying anything particularly controversial.
I agree strongly on the 70-hour weeks. I'm working on a book about startup misconceptions, and one of the chapters is titled, "Working lots of hours means you're making progress." Interested in being interviewed for it? Stories from actual founders are what will really persuade people.
I agree that the financial and legal situation is as you say. (Having written financial trading software, I know how to price a deal.) But that's the skeleton. The flesh is the human relationships. I personally feel more responsible to the people I hire than to the investors, in that their commitment is larger and the failure hits harder. But my sense of obligation also extends to the investors, and in all cases it extends beyond the legal minimums.
I think there are practical reasons one might behave that way: Silicon Valley is a small place, and one's reputation has a lot of value. But for me it's deeper than that: collaborative projects come with a sense of obligation to one's collaborators.