> Without being a C-corp there’s nothing in which to have equity or rather “equity” doesn’t mean anything much.
Completely unwarranted rudeness notwithstanding, this comment is still 100% false.
You brought up C-corps, and legal/accounting structure isn't mentioned in any of the parent comments. Which is fair, but like I said nobody first starts a business by filing paperwork to incorporate a C-corp. They work as an LLC or sole proprietorship, and if/when they reach a point where it makes sense, they restructure. I even alluded to that in my sentence you took issue with, "or until we get investment." Yes, you'll absolutely restructure as a (Delaware) C-corp if you take venture investment, and this minimum wage law would apply - but not to the co-founders, as @adventured noted.
Completely unwarranted rudeness notwithstanding, this comment is still 100% false.
You brought up C-corps, and legal/accounting structure isn't mentioned in any of the parent comments. Which is fair, but like I said nobody first starts a business by filing paperwork to incorporate a C-corp. They work as an LLC or sole proprietorship, and if/when they reach a point where it makes sense, they restructure. I even alluded to that in my sentence you took issue with, "or until we get investment." Yes, you'll absolutely restructure as a (Delaware) C-corp if you take venture investment, and this minimum wage law would apply - but not to the co-founders, as @adventured noted.