The mistake that you made was making them "co-founder" on paper. They never were true co-founder who would live and breathe this thing with you daily. They told you in the beginning ("employee mindset", "wanted a salary") but you wanted to believe they were something else. I do feel for you though because I know how hard it is to find a true partner/co-founder in business.
"I imagined us conquering the world together."
You imagined. He didn't. Big difference. I know this is really hard for you and depressing at the moment but you need to accept the truth and reality. This guy was never a real co-founder.
It is probably good for you if he wants to quit now and give back most shares. Get a lawyer and draft the agreement properly and get him out. Since he got a salary as well, I would push for him getting 0 shares if you can swing it. Then you have things to think about. I don't know the details of your company enough to say whether you can save it or not but if you truly believe it can work and you have seen signs, then don't quit and find a way to get through this.
I run a bootstrapped SAAS without a co-founder and happy to chat offline if you want to vent/discuss.
Better to have a clean break. If appropriate the shares can be bought out so that the "co-founder" does receive some compensation for the vested value. Let him leave and do his next thing.
> but you wanted to believe they were something else
Well many times a founder will do this knowingly to get/keep someone who has other options like much better salary elsewhere, etc.
Not saying it's wrong approach, but have also seen the resentment the original "hustler" has later when this "co-founder" doesn't have the same drive. E.g. thinking "It's not fair", etc. even though they were desperate for the help when they had little money.
"I imagined us conquering the world together."
You imagined. He didn't. Big difference. I know this is really hard for you and depressing at the moment but you need to accept the truth and reality. This guy was never a real co-founder.
It is probably good for you if he wants to quit now and give back most shares. Get a lawyer and draft the agreement properly and get him out. Since he got a salary as well, I would push for him getting 0 shares if you can swing it. Then you have things to think about. I don't know the details of your company enough to say whether you can save it or not but if you truly believe it can work and you have seen signs, then don't quit and find a way to get through this.
I run a bootstrapped SAAS without a co-founder and happy to chat offline if you want to vent/discuss.
reply