board seat

“We've done a study now, we did it back Right after the bubble, and we've revisited it once or twice with Dow Jones, looking to see what this, what a typical workload, a board level workload is of a venture capitalist, and the number comes back six, and it was …”

“We don't take board seats on seed.”

“We won't invest without a board seat. It's a tenant that we have that a lot of other firms don't.”

“First of all, know that boards are the death of every great investor. So Be wary. If you sell to founders that when they take your money, you will join their board and be on their board forever. Know that you have just ended your career eventually.”

“We don't say we need a board seat. We don't say that we don't need it. And so if an entrepreneur invites us on the board and we think we can contribute, we'll be on the board.”

“And then in practice, I don't actually think there's that much that a board can do to help a company. I don't think that being on the board enables you to add an order of magnitude more value than being a involved investor who's not on the board.”

“If you're raising 500 K to a million, that's what I think of pre-seed, then yeah, you probably don't need a board. Yeah. Yeah. You don't need a fucking board.”

“We don't generally want to take board seats. We are incredibly hands-off and operationally helpful when asked, but only reactively.”

“So at Founders Fund, they obviously believe in this very deeply. We just saw this obviously with Keys leaving there and being somewhere else, they, the belief is that there is very little you can do to actually move the needle, other than writing the check. An…”

“If you kick off and you own on a board, like, less than 15% of that company, I think it's problematic.”