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VCs used to oust founders and bring in experienced operators as soon as a company started scaling. Cisco is one of many high profile cases of founders getting k
by WisNorCan 9y ago
VCs used to oust founders and bring in experienced operators as soon as a company started scaling. Cisco is one of many high profile cases of founders getting kicked out [0]. With the success of Google and Facebook, VCs pattern matched and became enamored with the founder.
The pendulum swung too far with and things started going wrong. When things go wrong in founder controlled company, things can go really wrong. Uber is the poster child.
The question is how VCs can take back some control without being painted as founder hostile. You can see that happening with Benchmark. I am impressed that USV is speaking up. It is easy to hide in the shadows.
[0] http://www.businessinsider.com/how-ciscos-founders-were-ousted-2014-12 http://www.businessinsider.com/how-ciscos-founders-were-oust...
- keganunderwood 9y agoI have no inside information but from my vantage point it looks like benchmark just wanted to get out but under isn't ready for an IPO. Maybe Travis isn't a good guy but I can't see how benchmark is any better. Also I think Google did bring in adults: notably Eric Schmidt.