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Yes, this is very much a thing. When one startup I was at took another round, the new VC demanded everyone be in SF. We were asked to move to SF or get fired.
by nosequel 8y ago
Yes, this is very much a thing. When one startup I was at took another round, the new VC demanded everyone be in SF. We were asked to move to SF or get fired. We all chose to get fired and took our severance somewhere else.
- dasmoth 8y agoWas a reason ever given? I'm not exactly surprised by this, but it seems pretty irrational, especially if the distributed company is already working reasonably well (which presumably it is, if they've just closed another round).
- qaq 8y agoVCs being personally invested in SF real estate :)?
- nosequel 8y agoThe reason we were given was that they believed that true innovation could only be found by sitting around a physical table discussing ideas. I actually ran into the CEO a year after this happened and he still believed it to be true. "There's no way we would've been able to pull off our last pivot without everyone sitting around the table late at night spitting out ideas". Oh well. I'm at a better company now.