Thats a quotable quote.

Also, life’s to short to have to deal with the whole “Masters of the Universe” attitude. Even for entreprenuers desperate for capital.

After all, is that really the type of attitude you want on your board?

You should write a post about board members. Who inject themselves into the business inappropriately, who make suggestions based on their past experience without an intimate understanding what’s going on at the company, and who arrogantly shoot off e-mails to execs demanding features. There’s nothing I hate more than adding a feature to the product because a board member requested it. Board members should be present to make sure that the management team is on track, to deal with large strategic issues, to be trusted advisors, and to deal with investments. They should not be involved in day-to-day operations, unless they’re asked to do so.

I’m not bitter =)

What I believe to be really treagic is that entrepreneurs cowtow too easily and don’t walk out of meetings by telling the investor to politely “have intercourse with themselves.”
It’s a sad statement that too many investors are little more than dickensonian clerics sans sleeve garters and eye shades. There was a time when investors were people who had developed products. Today, they are more likely to be people with the “proper pedigree.”

Cowtowing leads to massive subservience, which isn’t good for termsheets or start-ups. Arrogance leads to failure.

Good post, Chris. I wish you would have named the investor. Assign blame where it’s due and reward competence.

Best,
jimF