This correlation is lost on me. Founders are entitled to make a living wage. In NYC being paid less than $50k would mean a few things: !) You have to live in squalor. 2) You have money from somewhere else to support the rest of your needs. 3) You use the business to pay for your expenses
I would like to see the size of the business as it relates to compensation. A single founder with no employees and no office space can make $50k/yr salary and live comfortably if their rent and expenses are on the business. Otherwise I am dumbfounded by how this works...
It's not that tough in NYC if you go with lots of roommates, or are willing to take the bus from cheap NJ living each morning. Even after I stopped taking so much equity instead of cash and moved into the city proper, I still managed a basement apartment in Chelsea for only $1,500/month. Something like Washington heights at the top of the island would probably be half that.
I would like to see the size of the business as it relates to compensation. A single founder with no employees and no office space can make $50k/yr salary and live comfortably if their rent and expenses are on the business. Otherwise I am dumbfounded by how this works...