You get VC funding, what’s the first thing you buy as a founder?
Jokes apart, I want to understand how raising funds directly changes Founders life?
Do they start drawing 100x salary the next instant or bill it to company expenses?
Sensible founders don't do this shit. At an extremely early stage they mostly use it for runway for other employees, when they reach series B, then only founders usually start drawing a good amount of salary. My friend who is a founding engineer used to earn 30k as a salary before the series A funding, started taking 1.5L after series A, then 4L after series series B. Mind you doing 30k to 1.5L might seem like a huge jump but he was the only breadwinner for his family so he needed money
Investors won’t allow, founders can’t pay themselves unless business has found the PMF, regular auditing happens, if expense is too big it’s difficult to justify.
As @LegalTimer90 mentioned, the cash is for the runway.
Two things that really matter for early stage startup:
- Winning the market
- Having the runway
Approach a paid PR company and start giving interviews throwing in phrases like "my collection of cars and watches". One FMCG company I worked with has a founder crazy infatuated with himself.
Change age to 29.
