That's right, but your co-founder(s) can sponsor you, and indeed you them. Provi...

tmorgan on June 4, 2011 | parent | context | favorite | on: Ask HN: On H1B right now, can I be a co-founder?

That's right, but your co-founder(s) can sponsor you, and indeed you them. Provided that you could in theory be fired (a three person board for example) then you can be classed as an employee for the purposes of the H1-B.