I believe VC terms are a bit more founder friendly these days than they were in 1999. Founders have become more educated and double or triple dipping isn't as common as it used to be, in my experience.
That, and VCs are less likely to fire the founder as a matter of course to replace him/her with professional management, ever since The Social Network came out.
That, and VCs are less likely to fire the founder as a matter of course to replace him/her with professional management, ever since The Social Network came out.