I really like the idea behind this, but I take issue with the fact that if someone does start a company, Pioneer will take 3% with the option of buying 5% more of the company for $20,000. That seems pretty unfair.
I would be inclined to participate if this term didn't exist, or if it were either more financially generous or took less equity. But I wouldn't want to develop any idea through Pioneer if any future idea (for the next 8 years) could be poached for so little. It almost strikes me as a lazy way of running a semi-accelerator. I do think it's great that you're giving $5000 grants to help people develop projects and themselves, but this seems to disproportionately penalize people who want to commercialize their current or any future ideas
(Edit: why was my comment moved from being the top reply to the danicgross comment to a reply to the top level article?)
I would be inclined to participate if this term didn't exist, or if it were either more financially generous or took less equity. But I wouldn't want to develop any idea through Pioneer if any future idea (for the next 8 years) could be poached for so little. It almost strikes me as a lazy way of running a semi-accelerator. I do think it's great that you're giving $5000 grants to help people develop projects and themselves, but this seems to disproportionately penalize people who want to commercialize their current or any future ideas
(Edit: why was my comment moved from being the top reply to the danicgross comment to a reply to the top level article?)