Taking the U.S. leap

13 things you need to know before you jump.

@elamadej @innovationnest@elamadej @innovationnest

How would I know?

@elamadej @innovationnest@elamadej @innovationnest

My professional experience:

@elamadej @innovationnest

I’m a COO at a NYC startup.

@elamadej @innovationnest

@elamadej @innovationnest

I’m a partner at a VC fund.

@elamadej @innovationnest

13 things you need to know about biz in the U.S.

@elamadej @innovationnest@elamadej @innovationnest

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

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

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

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

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

Talent war is on.

Gold-rush investment market leads to cut-throat work market. Read compensation

threads on Quora.@elamadej @innovationnest@elamadej @innovationnest

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

Employees are bosses.

Low employee loyalty, high expectations, equity is expected, benefits, lunches.

CULTURE!@elamadej @innovationnest@elamadej @innovationnest

Real-estate is hard to find.

$1000 per employee. NYC 3-10 years leases, big deposits and guarantors needed.

@elamadej @innovationnest@elamadej @innovationnest

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

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

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

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

Ready? Excited?

Taking the U.S. leap

Thank you!

@elamadej @innovationnest@elamadej @innovationnest