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Ghibli: Founders must maintain continuous full ownership of code during development

Gil Ghibli · Why he regrets selling 30% equity in $200k pre seed round · Jan 14, 2023 · at 11:15

Gil Ghibli, founder of Run of Show, shares lessons learned after experiencing severe collaboration and code access issues with an offshore engineering team.

0:00 / 0:30exact quote · 30.7s
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“That as a business owner that hires a software engineer, first and foremost, you have to have full control of the code. You have to have full access and ownership. Of every single line of code that the engineers are writing never, you know, trust you know, an engineer to eventually pass on the access to a code and product and software that you're paying for in the development.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Gil Ghibli

What-if
Ghibli regrets selling roughly 30% equity in friends and family round
“I do think that I've been a tiny bit generous at my friends and family round, I think I should have given away less equity from the company when I did it.”
Gil Ghibli Jan 14, 2023 ▶ 10:35 Why he regrets selling 30% equity in $200k pre seed round
Disclosure
Run of Show raised pre-seed round at roughly $650k valuation cap
“That was about 650,000.”
Gil Ghibli Jan 14, 2023 ▶ 9:50 Why he regrets selling 30% equity in $200k pre seed round
Assertion Not checkable as stated
Ghibli: Run of Show wasted probably $100,000 on failed initial engineering
“Probably a 100,000 dollars.”
Gil Ghibli Jan 14, 2023 ▶ 11:10 Why he regrets selling 30% equity in $200k pre seed round
Assertion Not checkable as stated
Ghibli: WeWork hosted 50 to 100 private rental events weekly across US
“I would say that every week we probably had close to 50 to a hundred events across the country of folks that rented out WeWork spaces.”
Gil Ghibli Jan 14, 2023 ▶ 7:14 Why he regrets selling 30% equity in $200k pre seed round
Disclosure
Run of Show raised $150k to $200k from friends and family
“We raised a small amount of a 150 to 200,000 dollars from friends and family that believe in me, believe in the idea, and were interested to join this.”
Gil Ghibli Jan 14, 2023 ▶ 8:53 Why he regrets selling 30% equity in $200k pre seed round
Assertion Not checkable as stated
Ghibli: Run of Show currently has four or five free users
“Not a lot. About four or five.”
Gil Ghibli Jan 14, 2023 ▶ 14:22 Why he regrets selling 30% equity in $200k pre seed round
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