LFGSS: Turning a hobby into a technology startup

Jonny

Sharkstar

I could wear a wig.

Shredder, I love your ingenuity, but if we did what you suggest, some poor fuck would have to be the CEO of LFGSS. Any takers?

The scenario wasn't meant to be taken literally but just to provoke some thoughts. Anyway, David has already been doing the CEO role since day nought, so that is not an additional burden. Of course, it assumes LFGSS is already incorporated. If David has a company that he could use for the purpose, say, Kitchen Ltd., then that could also be a consideration...

On another note, whilst I appreciate the desire to focus on putting together the product, I think that each founding member should keep in mind that starting and running a new company necessarily means that each person needs to wear 12 different hats at the same time. You won't be able to do just one job in the beginning: doing just one job is a luxury you get to have when you are a profitable company of a certain size, with an army of employees running around. And, if you are one of the owner-proprietors, then don't expect to be able to do just one job EVER. Just saying.

Bit late to the party but I wish you the best of the luck. I can understand your super high and super low at the same time. If you like curry I will happily make you two a curry whenever you want, shit I'll even give you the recipe...

The scenario wasn't meant to be taken literally but just to provoke some thoughts. Anyway, David has already been doing the CEO role since day nought, so that is not an additional burden. Of course, it assumes LFGSS is already incorporated. If David has a company that he could use for the purpose, say, Kitchen Ltd., then that could also be a consideration...

I think the idea that the same person would be CEO of both LFGSS and Newco is a bit suspect, to be honest, but when I read back your original proposal I see that it's purely and simply a mechanism for getting money out of the hands of forumengers into Newco via LFGSS, with little real prospect of upside commensurate with the risk taken. I'd rather give a donation and take the kudos than chuck my cash on a gambling table set up like this.

The idea of splitting Newco out from LFGSS does raise an interesting challenge for the business concept, though: as I understand it, to be successful, David's new self would have to be able to convince David's old self to move his beloved forum of his beloved servers running his beloved code and into an entirely other system.

I think the idea that the same person would be CEO of both LFGSS and Newco is a bit suspect, to be honest

Happens all the time. It won't raise any eyebrows so long as the commercial terms are comparable to those extended to unrelated third parties. Just an associated company operating under 'fair market' conditions.

The idea of splitting Newco out from LFGSS does raise an interesting challenge for the business concept, though: as I understand it, to be successful, David's new self would have to be able to convince David's old self to move his beloved forum of his beloved servers running his beloved code and into an entirely other system.
Yes, if he can manage to persuade himself, then the odds that he can persuade others will be better. :-)

when I read back your original proposal I see that it's purely and simply a mechanism for getting money out of the hands of forumengers into Newco via LFGSS, with little real prospect of upside commensurate with the risk taken.
Yes, it is a possible mechanism to get around the concerns David expressed previously. No, I did not present a microwavable 'proposal', just some possible ingredients, one of which was a non-voting preference share, which can carry a 'coupon' with a predetermined rate of return. As I said, what you call 'proposal' is not meant to be taken literally. It's not plug and play. Of course, it is your gig, so you should cook it the way that suits you.

Management tech start-up jargon codswallop much?

Original post

Inspirational, sign me up!
LFGSS V.over9000 about to lift off

Yes, it is a possible mechanism to get around the concerns David expressed previously. No, I did not present a microwavable 'proposal', just some possible ingredients, one of which was a non-voting preference share, which can carry a 'coupon' with a predetermined rate of return. As I said, what you call 'proposal' is not meant to be taken literally. It's not plug and play. Of course, it is your gig, so you should cook it the way that suits you.

Microwaveable? What the hell are you talking about? Plug and play? Cook it the way it suits you? Have you suffered a recent serious head injury? Do you find that people start to give you funny looks when you get in to your stride? Or that you know an unusually high number of people who suddenly need to take a nap during the middle of the day?

Microwaveable?

I think he was just trying out a buzzword.

I have just found this thread, and, um, wow.

Go for it. If the VC side of things don't turn out well (and I hope they do), don't feel that you've burnt your bridges here and can't decide that you'd like to get investment from here at that point.

I'd be up for sticking an amount in.

I've never seen anything where I'd say that before, but this place is special, and the chance to help improve it, and take it's vision/ethos/community feel elsewhere is an amazing one. One I'd be proud to support.

Big hat tip to you for doing this Velocio.

The idea of splitting Newco out from LFGSS does raise an interesting challenge for the business concept, though: as I understand it, to be successful, David's new self would have to be able to convince David's old self to move his beloved forum of his beloved servers running his beloved code and into an entirely other system.

Bingo.

That's one of the biggest things, and is quite cool in that I know what I want it to be capable of doing and know that if the product doesn't solve the community problems then I won't be moving LFGSS onto it.

If Newco pivots and the idea no longer serves LFGSS interests, I then have 2 problems as I don't care passionately about setting up a company for the hell of it, but I do care passionately about fixing the ways that online communities communicate and specifically LFGSS as it continues to grow beyond Dunbar's number.

You know, I'd love to have a couple of you who were interested in hearing more over to my office and explain the stuff in my head in detail, give you a quick demo, show you my plan. Basically get your feedback and what I intend to do. Maybe I should... anyone interested in a Newco "show and tell"?

Bingo.

That's one of the biggest things, and is quite cool in that I know what I want it to be capable of doing and know that if the product doesn't solve the community problems then I won't be moving LFGSS onto it.

If Newco pivots and the idea no longer serves LFGSS interests, I then have 2 problems as I don't care passionately about setting up a company for the hell of it, but I do care passionately about fixing the ways that online communities communicate and specifically LFGSS as it continues to grow beyond Dunbar's number.

You know, I'd love to have a couple of you who were interested in hearing more over to my office and explain the stuff in my head in detail, give you a quick demo, show you my plan. Basically get your feedback and what I intend to do. Maybe I should... anyone interested in a Newco "show and tell"?

List?

1. Sharkstar
   

Bingo.

That's one of the biggest things, and is quite cool in that I know what I want it to be capable of doing and know that if the product doesn't solve the community problems then I won't be moving LFGSS onto it.

If Newco pivots and the idea no longer serves LFGSS interests, I then have 2 problems as I don't care passionately about setting up a company for the hell of it, but I do care passionately about fixing the ways that online communities communicate and specifically LFGSS as it continues to grow beyond Dunbar's number.

You know, I'd love to have a couple of you who were interested in hearing more over to my office and explain the stuff in my head in detail, give you a quick demo, show you my plan. Basically get your feedback and what I intend to do. Maybe I should... anyone interested in a Newco "show and tell"?

List?

1. Sharkstar
   
2. missmouse
   

1. Sharkstar
   
2. missmouse
   
3. dj
   
   
   

it's dangerous starting lists here, who is going to be first to shout dibs on Newco?

1. Sharkstar
   
2. missmouse
   
3. dj
   
4. Skydancer
   
   

(I suggest you invite wigan will to see if you can get HIM to get it)

1. Sharkstar
   
2. missmouse
   
3. dj
   
4. Skydancer
   
5. danb
   

1. Sharkstar
   
2. missmouse
   
3. dj
   
4. Skydancer
   
5. danb
   
6. Laner
   

Mostly the people without 2p worth

1. Sharkstar
   
2. missmouse
   
3. dj
   
4. Skydancer
   
5. danb
   
6. Laner
   
7. ChainBreaker
   

1. Sharkstar
   
2. missmouse
   
3. dj
   
4. Skydancer
   
5. danb
   
6. Laner
   
7. ChainBreaker
   
8. Oliver Schick
   

1. Sharkstar
   
2. missmouse
   
3. dj
   
4. Skydancer
   
5. danb
   
6. Laner
   
7. ChainBreaker
   
8. Oliver Schick
   
9. mashton (can I bring a baby?)
   

1. Sharkstar
   
2. missmouse
   
3. dj
   
4. Skydancer
   
5. danb
   
6. Laner
   
7. ChainBreaker
   
8. Oliver Schick
   
9. mashton (can I bring a baby?
   
10. yasi
    

You do all realise that this will be fairly boring... business-like almost.

An agenda may look like this:

• I'll talk through what I think the key problems are
  
• I'll talk through the ways in which I propose solving them
  
• A demo of some of a few key things in action
  
• A roadmap and dreamy big vision for the future
  
• Introduction to the other guys helping me (lower down the bill so we focus on the product first)
  
• Q and A
  
  

Probably will take 2 hours, one evening, perhaps next week or the week after... or a Saturday afternoon if that suits everyone better. Probably in my office above Pret on Gray's Inn Road (near Condor).