Main/99 Work/0 OneSec/OneSecThoughts/Cofounder Meeting 1 - 04.06.25.md

title, created_date, updated_date, aliases, tags

title	created_date	updated_date	aliases	tags
Cofounder Meeting 1 - 04.06.25	2025-06-04	2025-06-04

Cofounder Meeting 1 - 04.06.25

Meeting Agenda

Role and Responsibilities

Discuss our roles and responsibilities.

• Define the development process, define major milestones
• Define who contributes what towards those major milestones
• Define who is responsible for which employees

[!NOTE] Goals and Deliverables

• Clear Role Definition for each one of us in a table
• Set up realistic goals short term, mid term, long term.

Organization and Communication

• Proposal: Weekly meeting between the 3 of us

• Discuss short term goals and how they help us achieve long term vision

• Review past goals: are they achieved? What can we learn?

• Rediscuss requirements and plans to achieve those requirements → matching everyone's expectations and progress

• Communication: transparent communication between the 3 of us. 

• Direct honest feedbacks between each other: what do we think is good, what can be improved. Basically the same I suggest below (towards the team)

• Communication towards the team

• Improve team culture

• At the end of 2023 and 2024 I did one-on-one meetings with each team member and everyone really appreciated it. The goal was to give feedback, good points, points to improve, receive feedback as well and gather ideas on how to improve and become more effective as well as efficient as a team. This also allows us to redefine goals for the next period and communicate company goals until then. This makes the journey more traceable and allows us to learn from mistakes. I think that this is valuable and we should do it more frequently (maybe every quarter?).

• Hiring: Who does what? How can I help? 

• Formalization:

• I think its valuable to be more organized with respect to the google drive / confluence / jira / bitbucket. 

• I propose to agree upon a system and then stick to it. This also entails teaching the team how we want the tools to be used.

• Also stick to the agile framework fully (or another framework fully), including all meetings as suggested in the book more effective agile

• Team organisation:

• Team is growing larger → split up into subteams? Each subteam has their own standup, goal and development cycle?

• Try to move to a team culture where each team is self sufficient, meaning we don’t need to micromanage them and they deliver based on requirements and goals

Goals & Deliverables - Get on the same page with organization of the company (mostly me getting on the same page with how things are currently being done) - List of meetings / events / workflows to consider or to plan - Write down Hiring strategy - Write down drafts if reorganization is something we want to do. (fomalization, team organization, etc)

Action Items -

Contracts 

• Stock plan & Old Option plan: 

• Set up the contract

• How do the old option plan and the new stock plan interact?

• Tax Ruling: Since I will be a “late cofounder” (see slides from startup law firm) I will have a significant tax burden in case of an exit. The way to define this is to do a tax ruling.

• Salary contract: normal Swiss contract of employment with an agreed upon salary

Goals & Deliverables - Define standard swiss contract → can be easily setup afterwards - Get on the same page what the stock plan and the old option plan entails - Define strategy with respect to tax ruling

Action Items -

Open Points

Collect any open points here that were brought up during the meeting

Next Steps

Write down:

• Summary of action items

• Schedule next meeting (if needed)

Preparation

Was habe ich in den letzten 5 Monaten gemacht?

• Learning:
  • More effective Agile
  • design principles course
• Aerodynamic Analysis
• Electrical Engineering:
  • Reviews of several boards with vidit
• Flight Controller
  • reviews
  • requirements & planning
  • Test setup to test on second computer
• Chirp
• Simulator
• Hiring Platform
• Organization
  • versioning system
  • coding guidelines
  • review system
  • jira setup (not used yet)

Was sind meine Ziele

Projekte	Q2	Q3	Q4
Testing	Drohne zum Fliegen bringen: Hover mode	Physischer Prototyp in der Schweiz bauen. Hook: autonomous takeoff and landing	Cruise Mode and Transition. Table Delivery
Flight Controller	Logging and Loganalyse system welches funktioniert --> wird ziele im Q3 einfacher machen	Mit Valentin und Ugur full INDI controller aufbauen
Autopilot
Ground Control
Management	Establish Proper Jira and Agile routines with subteams. Do one-on-ones with team members
Operations

Stockplan

Todos

• Repeat offer
• Agree upon salary
• Agree upon

Status Quo

Cap table 25.11.24 !

Suggested Start Cap table !

After merging the suggested start cap table !

my old stock option plan !

Currently I have the following

• Stock: 33'730
• Options: (183974*34/36)/2 = 86877
  • here I lost half, because I left the company
• Total: 120'606

If I never would have left the company, which in the end I didn't I would have:

• Stock: 33730
• Options: (183974*34/36) = 173753
• Total: 207'483

Meaning a difference of 86'877.

Negotiation

I want three things:

• Undo loosing half --> 10% founders shares (336'945) , + 207'483 (what I vested until now).
  • total: 544'428
  • total with keep losing half: 457'551
  • total only founder shares: 336'945
• A fair exercise price per share in the stock option plan:
  • currently USD$ 6.52 per share.
  • 3 years later Zack bought 236'326 shares for CHF $ 120'000 --> ~ USD $ 0.85 per share
• Salary of 5k net
  • enough to not be stressed about it --> full focus on OneSec
  • after taxes

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Role Discussion - Part 2

Dannick meint, dass er in der Vergangenheit zu lange gebraucht hat für Tasks. Er möchte Projekt in Spreitenbach übernehmen, auch wegen SORA, damit das bestimmt klappt.

Floris ist betrübt über Dannick's Passivität. er meint, Dannick ist nicht mehr wirklich involviert in der Entwicklung. Wieso haben wir eine Blameculture? Was bringt es einander zu blamen? Hier geht es vor allem um Dannick zu motivieren und Ownership zu übernehmen.

Er verteidigt sich in dem er meint, dass er wie den Sinn nicht gesehen hat, weil durch die Flugtests immer wieder Drohnen kaputt gehen und deswegen der Payload pusher nicht wertvoll genug ist, um immer wieder kaputt zu gehen.

Floris: Zweck von Mitgründer: Agency und Projekte in die Hand nehmen. Passive Aggression? Enttäuschung von Floris gegenüber Dannick?

F meint in den letzten 2 Jahren hat Dannicks Agency sehr fest abgenommen. Er braucht Projekt.

F: blame: komplette Arbeitsverweigerung: beim Hiring für HW-engineer.

Dannick ist stark: er wird von F geblamet aber er hat sein Gesicht bewahrt.

D meint, dass Floris Haken selber entwerfen möchte weil er

Projekt Lande-haken

• Elektrischer Saugnapf (einpacken, laden)
• Drehsystem, damit man auch von innen Drohne beladen / entladen kann.
• Genug testing!
• Ladekontakte und Ladesystem.
• Bauchlandung? Wie fixieren wir die Drohne mit dem falschen Center of Mass?
• Guiderails waren nicht perfekt: propeller haben die Guiderails berührt.

Hiring

• F: Hardware intern for Zurich
• Unity: 2x
  • Testing
  • 3D-map exports
  • Jerry entlassen --> nach Serbien ziehen?
• Omar in die Schweiz.
• Webapp fleet management
• Population density map --> ikeo map with ctr's --> automate what floris has been doing manually.
• Webdeveloper (JTL integration, fleet managment app, )

Requirements

• DO178: requirements and tests for each requirement.
  • Mann von Alexandra reviewt Requirements?
  • Drone onboard software: F meint in seinem Kopf ist es ziemlich klar was die Software können muss
  • Fleet management software: da nicht. Da fehlen noch weitere requirements.

Planning Preparation Define Tests

• 300 Hooklandings: what is pass
• verschiedene Payloads testen.