I’m currently working on my MVP with my other co-founders and the assumption is that I would quite my job once we receive our seed round. I’m not sure what the salary amount would be in respective of our burn and even reaching a series A.
My current role is senior eng making low 6 figures given the state of the market.
Our assumption is our seed would be around 3~5 mill and I would be taking the CTO role.
I’m trying to figure out what would be the appropriate salary and the opportunity cost of quitting my full time job?
Do not - repeat, do not - use an LLC if you intend to raise venture capital. I can’t understand why this myth is so persistent. If you don’t get it right from the beginning (Delaware C corp), you’re going to have to change it later, and that will be a lot more difficult than just doing it right in the first place.