Fenton: A VC's true customer is the founder's purpose, not the founder
Peter Fenton · Benchmark Part II: The Dinner · Acquired · Oct 17, 2022 · at 41:24
Benchmark GP Peter Fenton explains how Benchmark resolves potential conflicts of interest between fiduciary duties, LP interests, and founder loyalty.
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“Our customer isn't, it's not the founder. We say it is, but it's really the purpose of the founder, and it turns out that purpose, if that's the customer, One of us may be deviating from that, and we can keep each other accountable, and that happens internally.”
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