Company raises shit ton of $. Never generates more than $1m of rev. Founders bail and VCs bring in a new CEO. He miraculously gets them an acquisition offer that pays back VCs and gets team good jobs/offers but no cash for common. OG founders block the sale. #happensallthetime
@michaelwma @AdarshNalam @pmarca Way better than most VCs! Typical VC flow: cold outreach to founder because their algo says they’re growing; founder replies and is excited to chat; VC pulls power move and introduces assistant to schedule.
@PottsJustin I’ve had a VC fund sell their assets to a random fund in Switzerland. And then new fund constantly asks for financials and updates… #notwhatisignedupfor