Right now we are:
- 2 cofounders + an advisor basically on close to same level of dedication as us two
- 4 developers. 2 more onboarding right now
- 1 designer being onboarded right now as well
- 1 legal
- 1 product guy coming from Berlin on 16th October
- 2 in communications / marketing
- 1 financial guy
The thing is, that we started hiring before ICO ended as well as looking for new office space to rent. And we were actually warming people that were able to join right now almost since the beginning of this year. All that because if we would start with all that right now, we wouldn't be able to have team as of right now before year ends. You can't get A+ players right off the shelf in a week to say.
How long to burn the funds I can't say right now. Could be that legal is something we'll have to pay a lot for. I would say we are good for at least 5years (that would be $2m per year, which we are far from burning right now... but let's take into account that there might be some unexpected costs). Additionally to that. I was in NYC last week and lawyers there talk 6 digit figures and our PR agency is located right on Wall Street - they for sure are not the cheapest - but are very much needed.
You announced that the funds past $5 mil would be used for the performance.fund. What's going on exactly?
Would
really like to see an answer on this. You are a bit off though... they said first 10,000 BTC would be platform funds. That's over $6m at current prices. But the next $4m+ was supposed to be invested in the performance fund, before the end of the year.
That they're now nonchalantly referring to that money like it's working capital is really concerning. The establishment of a cap and a commitment that funds past 10 kBTC would seed the performance fund is the only reason I made a 2nd investment, instead of waiting and investing the money directly into the performance fund.