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There is a long history of choosing potential gain over doing the right thing.
If the last Years have taught us nothing, VCs tend to sell their portfolio companies from a a lot.
No balance? no problem; Here is an estimate of $32 billion. No proven product-market fit and your last venture cost investors billions? Here’s a check worth more than all the black founders who took off in 2021, an otherwise record-breaking year. When Elon Musk’s Twitter buyout check has never been built in that space before and has a reputation for mistreating employees, why not?
One can only imagine our confusion Don’t do it about hearing.
Venture capital has a history of choosing potential profits over doing the right thing, but in many cases this deliberate lack of accountability for portfolio company pain points or issues can come back to bite the investor. It can also hurt their LPs when things start cracking.
Often we – like startups we don’t work for or invest in – don’t hear about these opportunities until it’s too late. A startup costs more than $1 billion, and only then do we understand the employees and stakeholders affected by the company’s missteps or leadership lapses.
But it doesn’t have to be like this.
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