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View Diary: Overqualified and Unemployed (22 comments)

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  •  jadevol - I know that Grand Rapids (4+ / 0-)

    and Michigan generally are not the hotbed of startups that we have here in Silicon Valley. However, nearly every major city has startups that are nurtured by colleges, investors, banks, or angel groups. Find out where there is a concentration of startups and offer to work for equity. If you can make a significant contribution you will likely be hired when, and if, the company is funded. If you aren't hired you will have some equity which could have value, will have a recent job to put on your resume, and will be stimulated by the energy that is typical in startups.  

    "let's talk about that"

    by VClib on Tue Apr 02, 2013 at 05:43:05 PM PDT

    •  Equity Doesn't Pay the Rent (4+ / 0-)

      And makes your status unclear when filing claims for unpaid wages with the State Department of Labor.

      •  Filing With the DOL (0+ / 0-)

        Really doesn't help pay the rent,'s too easy to structure your business to make yourself judgment-proof, and it costs too much money to go to court to get your pay, because it's an "employment dispute," and has to be handled by a specialized lawyer...

      •  lurker - if jadevol can find a paying job (1+ / 0-)
        Recommended by:

        then he should take it. While he is unemployed he can work for equity with the clear understanding that the time he spends will NOT be paid for with cash. In nearly every startup the founding team puts in thousands of hours without any cash compensation. That is why it is called "sweat equity".

        "let's talk about that"

        by VClib on Tue Apr 02, 2013 at 10:10:19 PM PDT

        [ Parent ]

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