lenerdenator 2 days ago

Let this be a lesson to anyone investing in a startup: don't give any cash unless there's real corporate governance.

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  • em-bee 2 days ago

    but the opposite is true too: don't take money from investors unless they let you keep control of your company. for every case like this there are probably a dozen cases where investors took control of a company and ruined it for the sake of making money.

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    • pclmulqdq a day ago

      How did they "ruin" a company if that company made money?

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      • diggan a day ago

        Not all humans are driven by the same motivations.

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  • toomuchtodo 2 days ago

    Same with trading your time for stock options (that you hope are eventually negotiable shares); trust is earned in drops and lost in buckets.

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    • SJC_Hacker 2 days ago

      Dilution is a real problem. If they want you to act like a Founder, you should have protected equity like one.

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