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Simultaneously, we were forced to deal with a board member who was beyond counterproductive. After we bought him out fully in 2019, I sent this feedback email d

Simultaneously, we were forced to deal with a board member who was beyond counterproductive. After we bought him out fully in 2019, I sent this feedback email detailing the ways in which he had disrupted our board and company. The former CEO should take down the feedback email, as he is exposing himself and others to legal liability. He is not the only one who has had to deal with toxic investors who sit on startup boards. It's driven many good people away from companies they've founded. Sometimes the toxic board members are not newbies, either - they're supposed pros. Not sure what sort of due diligence can sniff these jerks out before they join the board, and maybe it's not even possible to turn them away if it's a condition of getting investment.

nickbauman 6y ago
I'm thankful for that "feedback email", whoever that guy was, he either has a serious case of the Dunning–Kruger effect going on or he deliberately behaved that way to extract money out of a startup by being a total resource vampire for the group; like it was a strategy. Maybe that's how a certain number of VCs actually operate? They're just grifters all the way down.
kumarm 6y ago
I think it is of great public service that the email is out in public domain. It warns many first time CEO's of the dark side of raising money from naive VC's who never ran a company before becoming VC. The email also adds context to Vinod Kosla's famous message: https://techcrunch.com/2013/09/11/vinod-khosla/ https://techcrunch.com/2013/09/11/vinod-khosla/
- skrebbel 6y ago
  Seems like many of the other VCs were pretty decent though. Eg encouraging the author to take time off etc. That's definitely adding positive value in my book.
tonyhb 6y ago
This is one of the most honest and cathartic emails I've read. I genuinely think he should keep it up. Some people naively view investment as "just money". This is an honest warning showing the real consequences of that incorrect view.
ponker 6y ago
What legal liability? A lot of people especially here in the US are always invoking liability. What series of legal events do you imagine being initiated by the posting of this email?
- zaphirplane 6y ago
  Serious ? No more or less than giving a dentist a bad review, impacting their income and reputation. They will say I am not a bad person to work with and this inaccurate statements have affected my reputation.
  - ponker 6y ago
    A dentist can only sue you for a bad review if the statements are untrue, and harm his reputation. The email doesn't include the name of the bad guy, and even if it did, if the statements are true, then there is no lawsuit to be had. Sure, you could be sued by someone claiming that they're false, but under Anti-SLAPP laws if you prove that it's frivolous you can yourself be awarded $25,000. Overall it's just very hard in the US to sue someone for telling the truth about how awful you are.
    - zaidf 6y ago
      I’ve fought off a frivolous defamation lawsuit against me so I couldn’t disagree more with “A dentist can only sue you for a bad review if the statements are untrue” and “Overall it's just very hard in the US to sue someone for telling the truth about how awful you are.”
      - ponker 6y ago
        Huh. I stand corrected. Was your lawsuit about a bad review?
    - underwater 6y ago
      I've read through the transcript of a court case in Australia where the defendant lost 50k for some really borderline comments. Specifically, a vet was "grumpy", and charged 3x markup for some medication, which apparently was true but hand waved away in the hearing with the excuse around delivery and overheads. https://fclawyers.com.au/checking-facts-before-you-write-review/ https://fclawyers.com.au/checking-facts-before-you-write-rev...
wbl 6y ago
The VC isn't going to sue the author of an email that didn't name them that called out their bad behavior. That would be news and link them to it. Most VCs at that company would think it wasnt about them because they aren't so badly behaved.

nickbauman 6y ago

I'm thankful for that "feedback email", whoever that guy was, he either has a serious case of the Dunning–Kruger effect going on or he deliberately behaved that way to extract money out of a startup by being a total resource vampire for the group; like it was a strategy. Maybe that's how a certain number of VCs actually operate? They're just grifters all the way down.

kumarm 6y ago

I think it is of great public service that the email is out in public domain. It warns many first time CEO's of the dark side of raising money from naive VC's who never ran a company before becoming VC. The email also adds context to Vinod Kosla's famous message: https://techcrunch.com/2013/09/11/vinod-khosla/ https://techcrunch.com/2013/09/11/vinod-khosla/

skrebbel 6y ago
Seems like many of the other VCs were pretty decent though. Eg encouraging the author to take time off etc. That's definitely adding positive value in my book.

tonyhb 6y ago

This is one of the most honest and cathartic emails I've read. I genuinely think he should keep it up. Some people naively view investment as "just money". This is an honest warning showing the real consequences of that incorrect view.

ponker 6y ago

What legal liability? A lot of people especially here in the US are always invoking liability. What series of legal events do you imagine being initiated by the posting of this email?

zaphirplane 6y ago
Serious ? No more or less than giving a dentist a bad review, impacting their income and reputation. They will say I am not a bad person to work with and this inaccurate statements have affected my reputation.
- ponker 6y ago
  A dentist can only sue you for a bad review if the statements are untrue, and harm his reputation. The email doesn't include the name of the bad guy, and even if it did, if the statements are true, then there is no lawsuit to be had. Sure, you could be sued by someone claiming that they're false, but under Anti-SLAPP laws if you prove that it's frivolous you can yourself be awarded $25,000. Overall it's just very hard in the US to sue someone for telling the truth about how awful you are.
  - zaidf 6y ago
    I’ve fought off a frivolous defamation lawsuit against me so I couldn’t disagree more with “A dentist can only sue you for a bad review if the statements are untrue” and “Overall it's just very hard in the US to sue someone for telling the truth about how awful you are.”
    - ponker 6y ago
      Huh. I stand corrected. Was your lawsuit about a bad review?
  - underwater 6y ago
    I've read through the transcript of a court case in Australia where the defendant lost 50k for some really borderline comments. Specifically, a vet was "grumpy", and charged 3x markup for some medication, which apparently was true but hand waved away in the hearing with the excuse around delivery and overheads. https://fclawyers.com.au/checking-facts-before-you-write-review/ https://fclawyers.com.au/checking-facts-before-you-write-rev...

wbl 6y ago

The VC isn't going to sue the author of an email that didn't name them that called out their bad behavior. That would be news and link them to it. Most VCs at that company would think it wasnt about them because they aren't so badly behaved.