Co-founders are like spouses. You can figure a few things out together as you go along but if you don't have basic trust and mutual respect along with common goals for life/business, you will fail. I personally don't think it has to be someone you already know BUT it definitely is easier to start there. Sometimes you get lucky and it just clicks with someone you just met but most likely you want to co-found a company with someone you have worked with before IN a professional setting and not just personal. I have many friends whom I mutually trust and respect and they are even good at their jobs BUT they are not entrepreneurial and they will never be a good fit for me. So there is that also.
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