It's important to note that the VC is not objecting to the founders taking cash off the table. He's objecting to the method (dividends as opposed to a secondary

It's important to note that the VC is not objecting to the founders taking cash off the table. He's objecting to the method (dividends as opposed to a secondary sale). His arguments are convincing to me - and I'm a founder so my bias is naturally for the founders.