#344: Becoming an Advisor to a Medical Device Company
Devon Campbell, founder of Product, explains the nuances of advising early-stage medical device startups, distinguishing advisory roles from consulting and outlining strategies for compensation, equity vesting, and contract terms. He emphasizes the importance of due diligence, checking employment contracts for conflicts of interest, and building diverse advisory boards to provide multifaceted guidance. Campbell also discusses red flags for startups seeking advisors, such as ego-driven motivations or 'stacking the deck,' and advises on maintaining healthy, challenging relationships and handling clean breakups.