Poor co-founder choices have been the biggest casualty of ‘Changing the world’, ‘Disrupting’, ‘Move fast and break things’ narrative.
Co-founders are solicited through online forums, groups and on Linkedin. There are even dating and meetup platforms for ‘finding founders’. People assume that spending a few hours and ‘knowing’ a person is enough to on-board a person as a co-founder.
How wrong this fallacy is amply stated by Miguel here, founder of Samsamia Technologies.
“We founded Samsamia Technologies with 50%-50% shares each and he became the unique administrator, due to a incompatibility with my current job at my research lab.
I didn’t know back then but that was a decision that I was going to regret in the future.
I thought that a shareholders agreement can protect my interests as a stakeholder, however that didn’t prevent the events that happened afterwards.
This mistake costed me the company, I barely knew him, we had worked together for a while, but that’s completely different to work with a person under high pressure conditions and with money entering the company.”