Raised money from VCs for my last startup. Series A investor made all sorts of overtures about how founder friendly they were and how supportive they would be.
The week after we closed our series A they told me I had to hire a COO. I asked, "You trying to get me to hire my replacement?" "No, we'd never do that. How could you even think that?"
Less than two months after we hired the COO they fired me. The COO was made the CEO and he ran the company into the ground.
The lesson for founders is to never, ever, ever give up control of your board/company. Always maintain control of a majority of the board seats.
The week after we closed our series A they told me I had to hire a COO. I asked, "You trying to get me to hire my replacement?" "No, we'd never do that. How could you even think that?"
Less than two months after we hired the COO they fired me. The COO was made the CEO and he ran the company into the ground.
The lesson for founders is to never, ever, ever give up control of your board/company. Always maintain control of a majority of the board seats.