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When should cofounders decide on the equity split?
什么时候合伙人应该决定股份分配呢？
Great question, when should cofounders decide on the equity split?
问得好，什么时候合伙人应该决定股份分配呢？
Uh, for some reason, I've never really been sure why this is,
我一直不明白为什么会有下面的问题
a lot of founders, a lot of cofounders like to ah, leave this off for a very long time.
许多创业者和合伙人喜欢把这个问题拖很久
You know, they'll even sign the incorporation documents in some crazy way,
在成立公司时，他们甚至会用不可思议的方式签订文件
so that they can wait to have this discussion.
这样就可以暂时不讨论这个问题了
This is not a discussion that gets easier with time.
但这个问题并不是随时间而变得容易商讨的
Um, you want to set this uh, ideally you know very soon after you start working together.
理想的状况是在你们开始共事后尽快分配股权
Um, and it should be near equal.
股权应该近似平均分配
Um, if you're not willing to give someone, your cofounder, you know,
如果你不想给某人，你的合伙人
like an equal share of the equity.
一份相等份额的股份
Uh, I think that should make you think hard
我认为你应该好好想想
about whether or not you want them as a cofounder.
你是否想继续把他们当做合伙人看待
Um, but in any case,
但无论在何种情况下
you should try to have the ink dry on this before the company gets too far along.
你都应该尝试在公司刚建立不久时就解决这个问题
Like certainly in the first number of weeks.
比如说在公司成立的前几周
Yes?
请讲
Inexperience can be okay uh,
你说员工没有经验也可以
but then how do you know if it's gonna be crippling and you fire them?
但之后如何才能知道员工是否拖后腿了，并把他们开除？
That way.
就是这样
Um, so the question is I said that inexperience is okay.
这个问题是，正如我所说没有经验也是可以的
Um, how do you know if that's going to,
那怎么才能知道
you know, I someone is going to scale pass, not scale up to a roll as things go on and later become crippling.
如果某人随着事情的发展，没有给公司带来益处，拖了公司后腿
Um, people that are really smart,
有些人很是聪明的
and they can learn new things can almost always find a role in the company as time goes on.
他们能学到新东西，随着时间的推移，他们总是能在公司找到立足之地
You may can move them into something else, something other than where they started.
你可以把他们放在不同的工作岗位
Um, you know, it may be that you hire someone to lead the engineering team that,
可能是你招了某人去带领工程团队，
over time, can't scale as you get up to 50 people.
之后这个团队在达到50个人后就不再继续扩大
And you give him a different role.
你就会给他另外一个角色
Um, really good people, though, can almost always find some great place in the company.
真正优秀的人总能在公司找到属于自己的位置
I have not seen that be a problem too often.
我通常没有把这看作是一个问题
What if your relationship with your founder or founders breaks down over time
如果你和合伙人的关系破裂
and you're ready to split equity and everything?
如何分配股份和其他东西？
What's the best way to
最好的解决办法是什么
All right, so the question is, what happens when your relationship with your co-founder falls apart.
恩，这个问题是说当你和合伙人的关系破裂时怎么办
Um, we're gonna have a session on mechanics.
我们会在课程最后
At, near the end of the course.
讨论技术性细节
But here's the most important thing that founders screw up.
这里就先说一下最重要的一点
Which is every foun, every cofounder of, you yourself, of course, has to have vesting.
也就是说，每个，每个合伙人都想兑现股份
Um, basically what you're doing with cofounder vesting is you're pre-negotiating what happens if one of you leaves.
针对合伙人的股权，要提前商量好如果你们中的一个人离开要怎么做
And so the normal stance on this in Silicon Valley is that it takes four years.
所以硅谷中一般的做法是以四年的时间发放股份
Let's say you split the equity 50 50?
比如说你把股份分成两半
It takes four years to earn all of that.
要经过四年才能得到全部股份
Um, and the clock doesn't start until one year in.
要一年期满之后发放一次
So if you leave after one year, you keep 25% of the equity.
所以如果你在一年后离开，你就只有其中25%的股份
If you leave after two years, 50 and on and on like that.
如果你在两年后离开，就有50%的股份，以此类推
Um, if you don't do that and if you have a huge fallout
但如果你没有这样做，一旦公司受到很大影响
and one founder leaves early on with half the company uh,
其中一名合伙人很早离开，带走了公司一半的股份
you have uh, like this dead weight uh, of the uh, on your equity table.
那么你的资产表将会承受重大负担
And it's very hard to get investors to fund you or to do anything else
很难找到投资者筹资资金或做其他事
So number one piece of advice to prevent that is to have vesting on the equity.
防止这种事情发生的第一条建议就是提前制定好股份分成
Uh, we pretty much won't fund a company now,
我们现在不会资助
where the founders don't have vested equity vesting equity, cuz it's just that bad.
合伙人没有制定好股份分成的公司，因为，那样太糟糕了
The other thing to do is as soon as problems come up in the relationship between the cofounders,
一旦合伙人之间的关系出了问题，这在每家公司都会不同程度的发生
which happens to some degree in every company.
要做的事情就是-
Um, talk about it early, don't let it just sit off there and fester.
早点谈谈，不要置之不理，让问题恶化
