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Board members focus on things like governance and fiduciary responsibilities, not on what the next version of Windows is going to be. You'll find that most VCs
by mbesto 7y ago
Board members focus on things like governance and fiduciary responsibilities, not on what the next version of Windows is going to be.
You'll find that most VCs are also not "even remotely tech people". Guess what - they also happen to sit on many tech startup boards.
- sytelus 7y agoNo. Governance squarely lies with CEO and fiduciary responsibility with CFO. Board is supposed to look at these but they are not responsible for it (i.e. Enron board members don't go to jail for fraud but CEO and CFO may). The board does not exist just for administrative purposes. At all time, senior leadership need to behave so that they have confidence of board members. In return, board members are supposed to advice on investments company is making or not making, competative landscape, internal struggles, big problems, earnings expectations etc.