> For knowledge work, though, the best work is done by people who are intrinsically motivated. Rewards (like a life-altering kickback) don't actually elevate performance that much. Instead, they become the new baseline, and performance falls once again.
Should angel investors decline to fund founding teams that aren't this instrinsically motivated?
"70%?! That sounds extrinsically motivated... We believe that the best work is done for intrinsic satisfaction! We'll throw in a subsistence salary and 1% equity, just because. (And let's make it options, not founders' shares, since you're intrinsically motivated, right?)"
They could, but then they'd lose out on strong deals.
Perhaps performance and capability to negotiate is sometimes downstream of, but not always not 1:1 correlated to, intrinsic vs extrinsic motivation.
In my experience, the top performers I've hired and worked with who have had the highest performance and highest compensation have all been intrinsically motivated. YMMV.
Should angel investors decline to fund founding teams that aren't this instrinsically motivated?
"70%?! That sounds extrinsically motivated... We believe that the best work is done for intrinsic satisfaction! We'll throw in a subsistence salary and 1% equity, just because. (And let's make it options, not founders' shares, since you're intrinsically motivated, right?)"