I’m curious on the last point about “investor toolbox” & governance more generally. I don’t know how much research has gone into startup governance more broadly and if it has been done, I ’m assuming most of it has been done in terms of advancing business vs ensuring an alignment to a specific mission / value. OpenAi’s recent board events make me doubt the long-term effectiveness of structure like Ethics Boards.
In the VC industry more generally, the “wild west” phenomena is true but from personal experience, the weirder a shareholder agreement gets, the easier it is to scare of future investors. I think this highlights a critical point in the VC model: You would need investors that are aligned with this governance structure throughout the company’s entire fundraising journey.
Very interesting investment thesis.
I’m curious on the last point about “investor toolbox” & governance more generally. I don’t know how much research has gone into startup governance more broadly and if it has been done, I ’m assuming most of it has been done in terms of advancing business vs ensuring an alignment to a specific mission / value. OpenAi’s recent board events make me doubt the long-term effectiveness of structure like Ethics Boards.
In the VC industry more generally, the “wild west” phenomena is true but from personal experience, the weirder a shareholder agreement gets, the easier it is to scare of future investors. I think this highlights a critical point in the VC model: You would need investors that are aligned with this governance structure throughout the company’s entire fundraising journey.