What’s the best way to manage your board?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
The Board Of Directors – Selecting, Electing & Evolving – AVC

When the founder loses control of the company (usually by selling a majority of the stock to investors), it does not mean the investors should control the Board. In fact, I would argue that an investor controlled Board is the worst possible situation. Investors usually have a narrow set of interests that involve how much money they are going to make (or lose) on their investment. It is the rare investor who takes a broader and more holistic view … (read more)