Boards are dangerous to founder/CEOs
I always thought stuff like this happened to OTHER founders, but would never happen to me. But my board fired me six months after closing our series A.<p>The advice in this article is 100% spot on. I didn't know any of this. I was totally focused on building my company. But if you raise money you can't do that anymore. 50% of your time will always be occupied with working on your next round of funding or managing your board of directors.<p>I noticed super early that VCs were not "helpful" at all like they had claimed during the fundraising process.<p>So I got fired, and I thought, "well, at least I still have my founders stock!"<p>Then a year after I got fired the series A investor led the next round of funding and decided to value the company at $0, so I got diluted by 99.99%. Sounds illegal, right? Well, it probably was, but what am I going to do about it? They have billions of dollars and I had no money.<p>I just let it go and started something new - bootstrapping of course. On the bright side, the new CEO ran the company into the ground. Meanwhile my new company is doing well and I love my job.<p>Anyway, do what this guy says to manage your board and just plan on being fired at some point if you raise VC money.