Wait, so equity share dictates consensus? In my 20 years of working in startups, I haven't seen a relationship between share ownership and board control (other

Wait, so equity share dictates consensus? In my 20 years of working in startups, I haven't seen a relationship between share ownership and board control (other than chairman) and the company executives. If all the shareholders are employees and the CEO has a minority share and the other employees have a majority, then they can force the CEO out fairly easily. That kept things civil, in our case. Just because everyone has an equal share doesn't mean the CEO needs to build consensus. Again, you are right, to a degree, but even if all employee founders were fired, they could band together, in the situation being discussed, and toss the CEO. That changes the psychology of the situation.