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> It's, more or less, impossible for them to do worse than $0. Of course they can. They can do $0 _and_ fuck someone else's life over out of spite, vindictiven

> It's, more or less, impossible for them to do worse than $0. Of course they can. They can do $0 _and_ fuck someone else's life over out of spite, vindictiveness, or company policy. I'm with all the other poster saying what General Catalyst, while almost certainly at least party for self interested reasons, deserve praise and respect for doing this. I know with certainly that there's a bunch of people reading here who'll now move a General Catalyst offer/termsheet right up the top of their pile sometime in the next few years. I hope this works out well for both General Catalyst and for future startups and founders who work with them.

switch11 6y ago
Yes, I fall into that category I've had multiple offers to buy and invest. And always do your due diligence. One turned out to be a shell company - which means a bigger company secretly trying to low ball acquire my company In some cases it's VCs or celebrities and you do your due diligence * At the end it comes down to one simple thing If the VC feels this founder and his team worked very hard and not taking that $800,000 (or $800K + x) means those people will get a bit more (and for the company people it means a lot while for VC it means nothing Then VC doing it is a genuinely good thing Now consider what it means to someone considering General Catalyst At best - they are great guys At worst - they are smart It also means for sure that they are not parsimonious spiteful shortsighted vindictive penny wise and pound foolish So now any founder taking investment from General Catalyst knows that there is a good chance that General Catalyst are honest and reasonable They will not sabotage an exit to try and maximize their cut at the expense of founders * Is this deriving too much from a simple act? Perhaps However, in an industry where VCs are usually known for kicking out founders, this is a welcome change
- rjyoungling 6y ago
  hear, hear

switch11 6y ago

Yes, I fall into that category I've had multiple offers to buy and invest. And always do your due diligence. One turned out to be a shell company - which means a bigger company secretly trying to low ball acquire my company In some cases it's VCs or celebrities and you do your due diligence * At the end it comes down to one simple thing If the VC feels this founder and his team worked very hard and not taking that $800,000 (or $800K + x) means those people will get a bit more (and for the company people it means a lot while for VC it means nothing Then VC doing it is a genuinely good thing Now consider what it means to someone considering General Catalyst At best - they are great guys At worst - they are smart It also means for sure that they are not parsimonious spiteful shortsighted vindictive penny wise and pound foolish So now any founder taking investment from General Catalyst knows that there is a good chance that General Catalyst are honest and reasonable They will not sabotage an exit to try and maximize their cut at the expense of founders * Is this deriving too much from a simple act? Perhaps However, in an industry where VCs are usually known for kicking out founders, this is a welcome change

rjyoungling 6y ago
hear, hear