3 ms·
I question your read on what happens here. At most startups the investors control the board (there are a few where a charismatic founder manages to retain contr
by jordanb 2y ago
I question your read on what happens here. At most startups the investors control the board (there are a few where a charismatic founder manages to retain control, but that's rare).
If the board thought the founder was just transferring the remaining investment to himself slowly they'd fire him and replace him with someone to wind operations down.
- AbstractH24 2y agoLike most zombie startups, reason board doesn’t do anything is the amount of money is negligible to them. Even if it isn’t to you or me. Plus the possibility they do hit it big is always there. It’s not like they aren’t putting in any effort and collecting a salary. They just aren’t grinding. Then there are the personal relationships.