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who cares what they want? If they put in the money as a minority shareholder, their options are to follow the CEO or try to change his/her mind. Note: they're
by logicallee 12y ago
who cares what they want? If they put in the money as a minority shareholder, their options are to follow the CEO or try to change his/her mind.
Note: they're very good at the latter.
- potatolicious 12y agoOr exercise their Board powers and fire the CEO when push comes to shove. Nobody spends millions of dollars on something to make themselves powerless in it.
- deleted 12y ago[deleted]
- argonaut 12y agoThat's what the parent poster is getting at. In SV, most founding teams retain control after a seed financing, and many continue to retain control after a Series A.
- btown 12y agoTo elaborate on this point: if your current VCs aren't able to change your mind, and they get angry as a result, just their absence alone from future funding rounds will make it nearly impossible to get other investors interested. So they basically have you by a chain.