Lightspeed Grants and the S-Process paid $20k honorariums to 5 evaluators. In addition, running the round probably cost around 8-ish months of Lightcone staff time, with a substantial chunk of that being my own time, which is generally at a premium as the CEO (I would value it organizationally at ~$700k/yr on the margin, with increasing marginal costs, though to be clear, my actual salary is currently $0), and then it also had some large diffuse effects on organizational attention.
This makes me think it would be unsustainable for us to pick up running Lightspeed Grants rounds without something like ~$500k/yr of funding for it. We distributed around ~$10MM in the round we ran.
I’m hesitant to ask you about this so feel free to pass.
Can you say more about how it is that your current salary is $0?
I think most people would be surprised you are not currently receiving a salary. I also assume that as a not-for-profit founder even when you have had a salary it is lower than most or all of your team.
Lightspeed Grants and the S-Process paid $20k honorariums to 5 evaluators. In addition, running the round probably cost around 8-ish months of Lightcone staff time, with a substantial chunk of that being my own time, which is generally at a premium as the CEO (I would value it organizationally at ~$700k/yr on the margin, with increasing marginal costs, though to be clear, my actual salary is currently $0), and then it also had some large diffuse effects on organizational attention.
This makes me think it would be unsustainable for us to pick up running Lightspeed Grants rounds without something like ~$500k/yr of funding for it. We distributed around ~$10MM in the round we ran.
I’m hesitant to ask you about this so feel free to pass. Can you say more about how it is that your current salary is $0?
I think most people would be surprised you are not currently receiving a salary. I also assume that as a not-for-profit founder even when you have had a salary it is lower than most or all of your team.
I donate more to Lightcone than my salary, so it doesn’t really make any sense for me to receive a salary, since that just means I pay more in taxes.
I of course donate to Lightcone because Lightcone doesn’t have enough money.