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The Pre-Board Board: How to Create Accountability Before You Give Away a Board Seat

This is going to be BIG.

Typically, investors don’t take a board seat until you raise your first equity round—which means that it could be *years* before you have a real board meeting: A year of nights/weekends work researching, prototyping, and fundraising. First off, many founders don't really feel the need to have external accountability.

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Board Diversity

A VC: Musings of a VC in NYC

The board diversity problem is a symptom of a much broader problem around lack of diversity in founders that get funded and lack of diversity in VC firms. Most startup boards are made up of a few founders and a few VCs. No wonder you have no diversity on the board. Boards don’t need three or four VCs on them.

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Founder Led Companies

A VC: Musings of a VC in NYC

I remember about fifteen years ago, a well-known VC said to me “you need to sell a company within a few years of the founder leaving. Companies can’t sustain their innovation after a founder leaves.” I have seen leadership teams take over great businesses from founders and get them to the next level.

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Founders. Run. Amok. It Starts With a Term Sheet.

This is going to be BIG.

It was a company whose product I believed in and whose founder I liked, but a firm lobbed in a term sheet at a price 33% higher than what I had offered using a very light agreement meant for a much earlier stage company. Then, I read about the idiotic comments made by a co-founder of Rap Genius. No, probably not.

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The Founder and Investor Trust Problem: It's not what you think.

This is going to be BIG.

Founders seem to get that. Don’t get me wrong—I don’t mean trust in the sense that VCs think founders are just going to get a fake passport and move to Fiji, or that investors are secretly plotting to take over the company. VCs aren’t experts at every aspect of a startup at the same level across the board.

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How to Be a Good Board Member

Both Sides of the Table

I have been writing a series on how startup boards get selected, who sits on them and what to avoid. I started this series in part to help entrepreneurs but also to help newer investors because I’ve know with so many new companies you have so many new board members and many people are trying to figure out there respective roles.

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The BSList: You Need a Co-Founder (No. 93)

This is going to be BIG.

It’s your job as a founder to find out the specific risk associated with that attribute and to find out if the reason given is the only reason. But if these people are willing to come on without the co-founder title, that’s between them, you and their employment contract. Let’s first talk about the definition of a co-founder.

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