l’ve just been approached by someone heading a startup offering company shares in exchange for part-time unpaid work. He’s mentioned cash won’t be paid until they’ve acquired a seed round of investment. Are these offers usually a scam in the startup world? Or is this typically normal? Thanks
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You are an investor. You will spend more time on the project than them.
Sweat equity is quite common for very early stage startups. As others have said you’ll need to asses the other founders and the idea, and really need to believe in it.
I would never do that personally. Shares for virtually every startup ever should be considered worthless or like a lottery ticket.
This tells me they have no money or no access to money and want free labor.