I think it is a valid concern if someone that says they are looking out for your best interest starts a competing company even if that company is unsuccessful.

I think it is a valid concern if someone that says they are looking out for your best interest starts a competing company even if that company is unsuccessful. Board members should be trying to give the best results to the shareholders. If you are competing before you even get to the board, you probably do not have the shareholders of Craigslist in mind.