Hey, guys!
I’ve an interview for a unpaid full-stack developer internship scheduled at a new start-up that still doesn’t have funding.
They’re trying to develop some kind of plataform that let you use AI to get reports and analyse on crypto currencies.
If i ended up working there, I’d like the company to be successful, so I want to make sure I’m working for smart and organised people that have a real plan. The co-founders are really young(I’m sure they’re not older than 30) and one for them have a business degree. They told me that it’s a 3 months internship and if they get funded within this 3 months, I’d become a staff member. They’re offering a % of the company, I think there are 2 or 3 employees(2 co-founders included), they have a single web page on WordPress and that’s it. I’ve seen some screen-shot with data analyse on their company profile on linkedin but I think they have nothing else prepared.
I’m on the middle of interview processes with other companies(all paid positions) and then, this one comes as last resource because it’s a great opportunity to learn tons of things. I know that working at a start-up requires you to be an all around player, and the idea actually excites me a lot, that’s why some of the others companies I’m interviewing with are also startups(But mid level ones, or at least with funding to hire me for a full time position).
Giving you a bit of my background: I’m on my first year of university and I don’t have any formal experience working for companies. I started looking for entry level positions or internships as a developer two and a half weeks ago. That’s it :)
So, what should I ask during my interview with the co-founder? How can I make sure that they have a real chance to succeed?
if they get funded within this 3 months
They won’t.
In the end nothing can guarantee that they have a real chance to succeed - you don’t know them well enough and even with the best knowledge, circumstances can shift due to changing priorities, the emergence of new opportunities, or personal events that shift the focus.
Nonetheless, I would recommend asking about the long-term vision of the company and how they plan to achieve it. Pay attention to their marketing plan because the product can be the greatest, but if no one hears about it, no one uses it. Just as with any job, ask about the company culture, work-life balance, and values. You want to make sure their values align with yours. Finally, what are their key performance indicators? How will they measure your performance as an intern?
Good luck!
You can ask them anything they want but they still don’t have a clue.
I’d run so far away from this there’d be a hole in the wall.
How can I make sure that they have a real chance to succeed?
You can’t.
There are some “red flags”:
- Internship to build the project;
- “Analyze of cryptocurrencies”;
- Equity after fund, this is the most worrying.
They could pay any person just to build an MVP, or even try a seed funding only with the pitch.
Find an internship that pays you.
I have seen this many times before. Some guys have some (for real) cool idea that is very (above average) technically advanced. They usually have economic or business education, few years of experience in excel and now wants to be “their own boss”. Just find some guy to program it.
Most of these guys are decent humans. But the problem I have seen is that they often see engineers as an “asset” similar to a machine. That is the language they use and what they are often taught in school. That is were the problems begin. They see their ideas as the value, but in reality, good ideas are most of the time worth nothing in itself. Then they “just” need to find some guy that can turn their super valuable idea in to reality. In reality, the idea is worth close to nothing. What the engineers produce are 99% of the value. A great idea with great engineering is a different story. If you make those work together, then the ideas can hold some value in themselves. That is why you see almost all startups fail. In my experience, most startups are started by business guys with close to 0 technical experience. The engineers that actually have a chance of making something into a reality are too scared of building a startup because they realize that making some app that uses AI to analyze crypto markets is easily a 5 year project for an engineering team of 10. To have a 30% chance of making a shitty product, 60% chance of an okay product, and a 10% chance of a decent product. If the product is shit, they are done as soon as venture capital runs out or something else implodes. If the product is okay, then they will survive as long as someone is stupid enough to continue to fund it (until next recession) if the product turns out good, then they have a 50/50 chance of surviving the next 10 years.
Joining a startup can be a great learning experience. But not getting paid is insane. They will probably try to push you until burnout, with nothing of real value in return. Especially if they are not engineers themselves and don’t understand how things even work.
Just my experience.
well said…
Simple question to them: what have you done to prove there is a market for the product, the product will be profitable, when, and by how much? If they don’t explain the answers succinctly and eloquently, then they are too early to be looking for a team to build it.