What Do Boards Actually Do?
Mark Suster

Mark, great analysis. I agree 99%. You just missed:

  • different conditions investors have: not all investors have capital available to be invested (I’m not referring to angels and seed rather VCs with funds that are almost entirely invested vs. VCs with larger funds available)

Consequences (typical for startups with a quite long history):

  • Investors trying to push out (i.e. turning into common) other investors
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