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> Professional CEO = crony. Nothing else .... Yup. The pro CEO totally owes his job and even his career, house mortgage, the mother in law addition, the in gr
by graycat 10y ago
> Professional CEO = crony. Nothing else ....
Yup. The pro CEO totally owes his job and even his career, house mortgage, the mother in law addition, the in ground back yard pool, the kids' college tuition, new family SUV, wife's happiness, the family vacation home, his retirement, his good medical plan and dental plan, his airline travel card, his company car, country club membership, the respect of his circle of friends, etc. to the VCs.
Then the BoD and CEO can agree on this and that and send the whole founding team out without even their shirts. The founding team can sue, but without even their shirts and against the money and power of the great company they built, they don't have a chance.
So, we're talking CEO loyalty to the BoD, sit, lie down, roll over, stand, heel, etc.
The VCs with the BoD are in a power struggle with the founders, and the ones with more power get more money; the one with enough power can get ALL the money.
I omitted, the people I could get a "warm introduction" from are so high up in business and academics that the Silicon Valley VCs don't know them. And the Silicon Valley VCs don't know the people I know and couldn't get a warm introduction to me. E.g., in information technology, the people I respect and are able to respect me all have good appropriate Ph.D. degrees, usually pure/applied math, and nearly no Silicon Valley VCs do.
To put it bluntly, the Silicon Valley VCs are "too low class" for me! Really, I don't care and am willing to give tutorials to people with poor technical prerequisites for my work, but the VCs wanting "warm introductions" look too arrogant to me. Or, I'm not going to go to one of my Ph.D. dissertation advisers, since then a Dean at one famous university and President of another, and ask for a "warm introduction" to a VC that likely does not know him.