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This isn't about Boards of Directors so much as about how VCs should act when they act as advisers. And the article doesn't make the VC sound like an adviser as
by stephengillie 14y ago
This isn't about Boards of Directors so much as about how VCs should act when they act as advisers. And the article doesn't make the VC sound like an adviser as much as a business partner. The problem here is the adviser isn't a founding member of the company, even though the VC wants to be one. And when you want to go a different direction, your adviser can all too easily become a back-seat driver.
A VC is a person with time and money but no ideas. If they had ideas, why wouldn't they make those ideas into real products?
- orangethirty 14y agoBut the VC has an idea. Which is use the money to make more money by allowing others to build businesses. That's a business model itself. It requires the same amount of planning, marketing, PR, etc. They also have to turn a profit or face a bigger doom of losing lots of money on a bunch of bad businesses.
- eldavido 14y agoThis is far too simplistic a view. Being a good operator requires different skills from being an effective investor. Also, a lot of VCs are ex-operators who wanted a saner pace of life after being in the trenches for 10+ years.