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It looks like some explanation is in order. :) 1. I founded a company called Evernet in the 1980s, funded by Kleiner Perkins and others. Vinod negotiated again
by CurtMonash 13y ago
It looks like some explanation is in order. :)
1. I founded a company called Evernet in the 1980s, funded by Kleiner Perkins and others. Vinod negotiated against at least one founder, me, hard. Then KP made sad but traditional VC errors along the lines of changing the company's strategy from a good idea to a bad one, bringing in the wrong operating management and all that.
2. So I tracked news and anecdotes. Vinod prided himself on being a tough negotiator on behalf of his portfolio companies. But various other stories of negotiating hard against entrepreneurs were out there.
I should clarify that in the 1980s, even more than recently, there was a general screw-the-founder philosophy among VCs. I once asked a popular and likeable VC what some rules of thumb were for equity splits. After some back and forth, the VC said "You don't get it, Curt -- it's whatever we can get away with." But Vinod seemed like a particularly tough exemplar of the trend.
3. I advise 20-30+ tech companies at a time. Most are VC-backed startups. Khosla is the 2nd-worst target of negative VC anecdotes I hear, details of which must however remain confidential.
- almosnow 13y agoNice, thanks! Just for gossip, what's the worst one?
- CurtMonash 13y agoI haven't figured out a reasonable way to make it non-confidential yet. :(