13 things you need to know before you jump

1. Taking the U.S. leap
13 things you need to know before you jump.
@elamadej @innovationnest@elamadej @innovationnest

3. How would I know?
@elamadej @innovationnest@elamadej @innovationnest

4. My professional experience:

5. @elamadej @innovationnest
I’m a COO at a NYC startup.
@elamadej @innovationnest

8. @elamadej @innovationnest
I’m a partner at a VC fund.
@elamadej @innovationnest

10. 13 things you need to
know about biz in the U.S.
@elamadej @innovationnest@elamadej @innovationnest

11. You’ll have culture shock.
It’s a different environment. You’ll feel
energized and exhausted in turns. Travel
there early to familiarize yourself.
@elamadej @innovationnest@elamadej @innovationnest

12. You’re English is bat.
People will nod but they will not understand
you >50% time. Speak slowly, know lingo,
read “Venture Deals”.
@elamadej @innovationnest@elamadej @innovationnest

13. People are impatient.
People seem very nice and will be incredibly
helpful at times… but most conversations
will end quickly and will get you nowhere.
@elamadej @innovationnest@elamadej @innovationnest

14. You’ll waste a lot of time.
Travel, immigration, finding apartment,
finding office space, car rental, local travel.
Everyone had to go through it. Hang on.
@elamadej @innovationnest@elamadej @innovationnest

15. Your raise will take long.
You have to be later stage. Expect longer due-diligence.
Expect lower valuation - more risk, exit strategy less
clear, no network to hire from. Reputation is everything.
@elamadej @innovationnest@elamadej @innovationnest

16. Talent war is on.
Gold-rush investment market leads to cut-
throat work market. Read compensation
threads on Quora.
@elamadej @innovationnest@elamadej @innovationnest

17. It’s freakin’ expensive.
Marc Andreessen: Average fully burdened
cost per employee in SV is $200k and rising.
Raise for 12-18 months.
@elamadej @innovationnest@elamadej @innovationnest

18. Employees are bosses.
Low employee loyalty, high expectations,
equity is expected, benefits, lunches.
CULTURE!
@elamadej @innovationnest@elamadej @innovationnest

19. Real-estate is hard to find.
$1000 per employee. NYC 3-10 years
leases, big deposits and guarantors needed.
@elamadej @innovationnest@elamadej @innovationnest

20. Operations can kill you.
HR firm, payroll firm, accountants, bookkeepers,
healthcare providers, state payroll, taxes, federal taxes,
DE corp. tax, NY/CA corp. Tax, workers compensation,
liability insurance… Use Zenefits, ZenPayroll & more.
@elamadej @innovationnest@elamadej @innovationnest

21. Fine print matters.
Many hidden costs. Many disclaimers.
Arbitration and legal action actually happens.
YC poll avg. $1250/hour for a lawyer.
@elamadej @innovationnest@elamadej @innovationnest

22. Hard to undo foundation.
Use good documents: YC’s SAFE, standard
convertible notes, good lawyers. Clerky. 83
(b) election. Ask for advice.
@elamadej @innovationnest@elamadej @innovationnest

23. It’s a hell of a ride!
It’s hard but you have more assets than you
think. If you can make it in America…
@elamadej @innovationnest@elamadej @innovationnest

24. Ready? Excited?

25. Taking the U.S. leap
Thank you!
@elamadej @innovationnest@elamadej @innovationnest