🕒 Date: Sat Nov 29 at 10:04 PM CET

👥 Participants: jig7709@gmail.com

🔗 Meeting Link: See full transcript, & manage meeting

⌛ Duration: 52.00 mins

Overview

• Equity Structure: Vesting is set for one year with a cliff, full equity in two years for commitment.
• Product Development: Web application will cost low $20,000s and take under two months to develop, allowing faster launches.
• Payment Structure: Wyoming setup for low costs; future payments via a holding company in Dubai for efficiency and crypto options.
• Branding Materials: A blue logo with “V” in the “O” is preferred; branding kit and investor deck to be finalized next week.
• AI Strategy: Focus on sports-specific AI using ChatGPT; will customize responses with sports data instead of building a new LLM.
• Next Steps: Immediate contract drafts and milestone definitions to begin development, with follow-up meeting to finalize features.

Notes

📝 Proposal Framework and Time Commitments

• Discussed agreeing on the proposal framework with emphasis on time commitments and milestones.
• Clarified that these are approximations to ensure availability for meetings and work deadlines.

💼 Equity Vesting Terms

• Equity vesting terms debated, proposing a vesting period of about two years with cliffs.
• This is to ensure founders' long-term commitment and prevent premature selling.
• Equity distribution is a division among founders, not a sale.