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> Turns out the previous CEO and CTO were doing all their business traveling for sales in business class This simply can't be attributed to "it's their first t
by ryanSrich 12y ago
> Turns out the previous CEO and CTO were doing all their business traveling for sales in business class
This simply can't be attributed to "it's their first time". This is selfish, reckless, and inexcusable. How did this even fly with their investors?
- bane 12y agoI agree, but the C-level execs answer to the Board, not necessarily to their investors. If the Board also all flew out to the meeting in business class, and 2 of the seats on the board are the CEO and CTO, it's not hard to imagine it being something they're overlooking. I've found that boards for most startups are surprisingly light handed and non-guiding in their approach. They're really supposed to be there to advise, make connections, vote on major corporate decisions, etc. a monthly $15k expense for C-level execs as a sales/marketing expense (when the total investment is millions) is a small detail for the board to be sweating over. They care if revenue is growing, is growth is sustaining, etc.