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This is a great idea. However, he needs to be up-front about the terms and conditions. For every idea that successfully recruits a resource through EquityOwl, EquityOwl retains 1% equity. This isn't on the front page and it should be. It's buried in the FAQs and T&C pages.
@iamrandyellis It is shown to you as you begin filling out the form to submit your idea. Thanks for the tip! We will make it more easily visible for our users!
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@mitchelltrulli No problem, glad I could help. Regarding the 1% equity share with EquityOwl. I'm kind of hesitant about this when it comes to future investment/cap table justifications. I'm sure this would be on a case-by-case basis, how would EquityOwl help a business that's looking for investments lower the barrier for investors who don't know who EquityOwl is and what it does for its 1% share? This could be a sensitive subject when it comes term sheet time. There could be an opportunity here for EquityOwl to build an investor pool where they're familiar with your business and what value it brings to the table. This can also increase EquityOwl's appeal with new startups. Just a thought.
We will defiantly be looking into this! In addition we are looking to possibly remove the 1% equity share form our site as well. All feedback is appreciated. I would love to have a more in depth conversation if you are interested my email is mitchelltrulli@equityowl.com
This is interesting. Looks like the site is down for me right now. I'd love to hear from anyone who has tried this or assembly.com before they went down.
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@mitchelltrulli How can one validate the talent of folks on the platform?
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