Shpigford

Thank you for the feedback and perspective! Super helpful.

That means a lot, Mike.

Thanks so much for checking it out!

Thanks a ton!

Thanks! Pumped to see how it goes!

Thank you so much!

Sure thing!

I also would want a lawyer to take a look. Hence the note saying to talk to a lawyer. ;)

The reality is, even knowing what to ask a lawyer can be difficult and it's not economically viable to ask a lawyer to summarize a 100-page legal document into text you can wrap your head around.

Detangle just helps give some clarity so that you can further a conversation with a lawyer, or even just ask for clarification from the person who sent you the document.

"Hey, this paragraph seems to imply XYZ...is that the case?"

I'm making zero claims that this should replace a lawyer or be used as a replacement for legally binding text.

We use GPT-3 to summarize it the document data. Then 24 hours later we completely delete all text, URLs and file uploads.

Thanks so much!

That was the big reason for adding the massive disclaimer everywhere, but I guess we'll see.

I also intentionally didn't just give an output of the summary but instead showed it next to each paragraph so the implication isn't that the summaries replaces the legal, but rather tries to clarify.

Glad you noticed the Terms. :)

Detangle gives you AI-generated summaries of your legal docs so you can understand what you're signing.

Here's the YC SAFE, for example: https://detangle.ai/examples/yc-safe

That entire $300k went to employees.

As for $3.7 vs $2.9...that was basically the number that, to oversimplify, would roughly give the outcome I wanted for "retirement" when it comes to investment interest over the next 50 years.

Basically, it's the number I felt comfortable with to not instantly feel like I needed to get back to work in a few years.

Depends on the employees and when they joined and if they exercised stock options or not. Big range from a few thousand to over $80,000.

Investment vehicle was a SAFE. They basically cancelled the SAFE as part of the deal. We've had carryover losses for years, so from a tax perspective, there was no hit on either side.

Right. I've been paying myself $100-150k a year for most of that.

You're making a veritable crap-ton of assumptions here. Happy to talk about specific concerns, but not if you're going in to this with guns blazing looking for a witch to burn.

So true. I could have also hated my life for those 7 years. I make a terrible employee. :)

Baremetrics | Senior Backend Engineer (Ruby) | Full-Time | Remote

https://apply.workable.com/baremetrics/j/96F891A001/

Baremetrics is a business analytics & insights company. We provide the tools and data businesses need to make solid business decisions.

We're not some flash-in-the-pan startup...we're seven years old, profitable, doing over $1.5M in revenue and growing. Nearly 1,000 business from all over the world trust us to help them grow their businesses.

As a senior backend developer at Baremetrics, you will be working on a variety of projects from payment provider integrations and data ingestion to metrics processing and user-facing features.

We're a very small team with a huge bias for simplicity. Baremetrics has grown to its current state with just 2 backend developers. You'll be working on projects, large and small, from inception to completion.

We approach our work with focus and purpose in an environment of trust and autonomy. When we work on a difficult problem, we take the time to think through and research the possible solutions and then write an implementation plan. Sometimes that may also include some tinkering.

I threw around the idea but the reality was I wasn't in a strong position to try to negotiate that with a potential buyer.

Acquisitions are incredibly closed-door and so finding a buyer who was willing to be open about the process would have been nearly impossible.

That's the route we're going down now! As I mentioned in the article:

For me, this came at a time where, personally, life was…draining. Outside of work I wasn’t in a great place mentally. I was dealing with some family issues that were consuming every ounce of my mental energy. I was depressed, anxious and the most stressed I’ve ever been and the prospect of being able to sell the company and give myself and my brain a break was very appealing.

I think it's a company culture thing. I mean, I could have kept it buried and just hope nobody at the company found out but that's not how we roll. ¯\_(ツ)_/¯

Thanks so much for the kind words!

Totally agree the diligence work, in the long run, wasn't a waste. At the very least, we organized a lot of documents I'd forgotten about.

For better or worse, exclusivity in an LOI is the norm. Obviously, you don't have to accept the LOI, but any LOI that is missing exclusivity is usually a sign of inexperience and honestly is cause for concern.

Brokers are pretty well connected and ours made sure to spread their name around. They'll have a hard time buying a company through typical routes for a while.

I'm also perfectly happy to let anyone know in private who it is. :) DM me on Twitter (@Shpigford) or email: josh@baremetrics.com

Baremetrics (https://baremetrics.com) | 100% Remote | Full-time | Multiple Roles

Support & Integrations Engineer (Ruby) -- https://apply.workable.com/baremetrics/j/F977B030C8/

Customer Advocate -- https://apply.workable.com/baremetrics/j/C88A8F9B5D/

Baremetrics is a business analytics & insights company. We provide the tools and data businesses need to make solid business decisions.

Founded in 2013, we're working hard to help businesses spend less time crunching numbers and looking at spreadsheets and instead give them instant access to metrics and business insights that they need to run their businesses.

We're not some flash-in-the-pan startup...we're five years old, profitable, doing over $1M in revenue and growing. Nearly 1,000 business from all over the world trust us to help them grow their businesses.

We're looking for folks who like to solve problems and build a business and product that people genuinely love to interact with.

Read about working at Baremetrics: https://baremetrics.com/about

Benefits

* Work from anywhere (we're 100% remote)

* Minimum vacation policy

* Competitive salary

* Bonus structure

* Flexible work hours

* Full health, vision & dental insurance for you and your family

* Annual company meetups

* Kindle Paperwhite + Unlimited Books

* Monthly "remote stipend" that you can use for anything

We (Baremetrics) operate basically breakeven. Spending 2019 growing profit + cash in the bank.

Listed them on Flippa! The end. :)

I need to come up with an elaborate story on the name...alas I just picked two words that I thought sounded interesting together and BOOM, done. :P

Yeah, I think a lot of it comes down to motivation. Most of these items were simply me having an idea or interest and wanting to learn more about it. Building something is sort of creative exploration for me. If it becomes something, cool. If it doesn't, also cool. I still learned stuff.