We love it when an Open Source hardware project grows up and turns into a sustainable business, bootstrapped with nothing but hard work and great ideas, but it’s a really tough prospect to do it using your own money, ploughing the profits from any sales back into development and not taking a dime in wages whilst you do so. People obviously need an income to live off, and that time spent working on a startup is time you can’t spend earning your keep. So it’s with great pleasure that we can bring you the latest news from [Stephen Hawes] and his pick-and-place machine plans. In the year since we last checked in with the project, development has continued at a steady pace, with the guys quickly outgrowing the garage workspace, whilst they prepare PnP machine kits ready for sale.
The big news is that [Joel Spolsky], co-founder of Stack Exchange, creator of Kanban management tool, Trello, and angel investor, has made a sizable ($100K USD) investment in the company which has allowed them to take on a 3,000+ sq. ft office space, and given them the funds for stock and all that boring business overhead stuff. [Stephen] takes time to explain that [Joel] will not have any control of the company, and all hardware and software will remain fully Open Source. For those interested [Joel] implemented his investment as a SAFE note (Simple Agreement for Future Equity) and as such, [Joel] will only make a return in the form of a small share allocation, if they hit the big-time in the future. ..
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