The majority of founders actually get fired from the companies that they started

The majority of founders get fired from the companies that they started. Don Valentine, the founder of Sequoia, one of the most prolific venture capital firms in the world, said that nearly half of founding CEOs of their investments are fired in 18 months of their series A funding. World class Founder are fired from their companies every day. Elon Musk was fired from Paypal. Travis KAlanick was fired from Uber. Jack Dorsey was fired from Twitter. Even Jobs was fired from Apple. 90% of founders don't make it to the exit of their own companies. The single reason this happens is that these founders lost controls of their board of directors. During a fundraise, I constantly see Founders get overly focused on getting the highest valuation and do not pay to their board composition when taking capital from investors and venture capitalists. You have to negotiate for yourself to ensure that you will be with the company long term and are able to protect your interest. Your valuation doesn’t matter unless you control the outcome of the company. Its imperative that Founders understand that the board's primary job is hiring and firing the CEO and they can be the one who exits you from your own business. There are a number of controls that founders can incorporate into their articles of incorporations that can prevent them becoming a statistic. This channel's mission is to build a community to help founders like you avoid these problems. Tomorrow, I’ll be talking about how keep control of your company through your tenure in my next videos. Comment and follow if you have questions about how to structure your board. #founderadvice #fundraising #startup #startupadvice #startuptips #VentureCapital #vc #articlesofincorporation