• By Nicholas Carlson
    Apr 29, 2008 11:40 AM 3,000
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    While wantrepreneurs worry about a recession, it's a great time to be a VC
    read more: #clips, #pascallevensohn, #sharonwienbar, #yahootechticker, #siliconvalleyusersguide, #startups, #techticker, #venturecapital, #valleywag

    VCs tell founders how not to get fired

    TechTickerHowNottogetfired.jpgIn today's Tech Ticker episode, venture capitalists Sharon Wienbar and Pascal Levensohn explain to Sarah Lacy how entrepreneurs can avoid getting fired during a downturn. We watched and took notes. Below, the clip and notes on the VCs' six essential points:


    • 0:30: VCs need to better set founders' expectations. And vice versa, too.

    • 1:27: Don't spend.

    • 2:15: Don't respond to a bad quarter by doubling-down on engineering. Prune your management team.

    • 2:55: If you take VC, you have to play by their rules.

    • 3:29: Do you want to be rich or do you want to be king?

    • 5:31: Fiduciary duty is the board's concern (not the founder). In other words, they have to look out for all the shareholders.

    • 6:08: VCs make the most money when the founder goes all the way. The suit just wants money.


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