I am generally quite in favor of deep founder control... and slow ventures we don't even do board seats as a matter of policy.
but the funny part about seed companies without boards is that when the founders go after each other / things fall apart there are literally NO guard rails... and things blow up to a comical / ridiculous degree.
The lessons of FTX, Theranos, OpenAI, blowups is that governance matters -- but the same lesson is even more dramatic (if far less impactful) with the baby-cos that don't have non-founder boards at all!
If you are going to live on SAFE notes and skip governance for too long, do so at your own peril!
@heykahn Any way to search for past AI Tools you've recommended in your newsletter? Saw/used a good one for summarizing multiple articles but have now forgotten the name :{
Well, Intuit announced today that they're shutting down Mint. Lots of feels about
that. Suggest you use @monarch_money … built by Mint employee #10 @valagostino and with functionality and design relevant and useful to the #PFM user of today versus 2009 … the year we sold Mint
.@Neal_Katyal named Litigator of the Week by @AmericanLawyer after giving 50 U.S. Supreme Court arguments and securing two major victories in one week for @CommonCauseNC & @Coinbase. His victory in Moore v Harper is being hailed as the most important win for democracy in the Court’s existence.
Read the interview with Neal here: https://t.co/EVatHryCAZ
#Coinbase #VotingRights
Utter nonsense from @andykessler in @wsj today. "....91% of [@SVB] board being independent and 45% women, they also have “1 Black,” “1 LGBTQ+” and “2 Veterans.” I’m not saying 12 white men would have avoided this mess..." Let's go have a look at the 2008 #GFC boards, shall we?
@andykessler Please analyze these boards (c. 2008) and let your readers know how well "12 white men" have actually done in avoiding "similar messes" in the very recent past? Lehman Brothers, Washington Mutual Bank, Merrill Lynch, Citi, Bear Stearns & Co., AIG
#svb#governance
“Is it not the arc of life, to slowly become aware of the people around us and the labor required to make our survival and happiness possible … and to learn, if we can, to do the same for others?” via @ligayamishan
I wrote “Don’t Thank Your Mother on Womens’ Day” in 2021. Sadly, still relevant today. Hope you’ll read before writing your #March8#IWD2023 message to your employees.
https://t.co/rdHdx5KnfC
I was 200 yards away from where this bomb went off on that day. Working at AmEx HQ. My colleagues and I stayed at the office all day, unaware of what had happened until getting outside and then “seeing the news” that night. It was a different time. https://t.co/Zef4AqNGEc
My vote for top 2022 TV quote: “The only reason I'm not killing you right now is because I need a ride to Nairobi in the morning.” Looking for an excuse to use. #1923TV#TaylorSheridan
UK friends: @TomTugendhat is an exceptional person, leader and friend of many, many years. I hope you will consider giving him your support. #ACleanStart
Transformational deal combining two Identity Verification leaders and innovators. Congratulations,@MitekSystems and @HooYucom !! https://t.co/MDd1tdJf2g