Moving towards the model where a portion of early VC investment goes straight into the pocket of the founders and early employees, as bird has done.
If I've built a company with an implied valuation of 200 million, why can't I bank a couple of million for a rainy day?
I've heard VC's state with a straight face that this is a misalignment of incentives.. apparently if the founder is financially comfortable they aren't "hungry".. this from a venture capitalist who is guaranteed a juicy carry whatever happens to their fund I find this insulting.
If I've built a company with an implied valuation of 200 million, why can't I bank a couple of million for a rainy day?
I've heard VC's state with a straight face that this is a misalignment of incentives.. apparently if the founder is financially comfortable they aren't "hungry".. this from a venture capitalist who is guaranteed a juicy carry whatever happens to their fund I find this insulting.