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@eBossWatch @Objectiveli Yes indeed - and there are plenty of VCs who don't kick founders out of their companies - as well. But it seems like the "model" of ROI is all about control and the struggle for power.So founders are seen as "chumps" who are too focused on their users and the product or service's experience - while its those seasoned "veterans" who are handed the reins of power - to head towards the IPO.Too bad that "jig is up" - huh?The greed and absurd valuation of this bubble has burned Wall St - especially when huge chunks of B & C rounds are pocketed by these greedy execs. Investment banking firms are also part of this gouging fest - and the tech press don't seem to have a courageous bone in their bodies to do what Chris Sacca has done - here. Kara Swisher, Henry Blodgett et al know what's going on - but they choose to leave it un-exposed, in exchange for goofy ass "exclusives", inside interviews and 'so-called' A-List serial entrepreneur coddling.They're playing us all - all in the spirit of "more page views" - which is THEIR model - right?The truth is that there are few technology plays that are worth IPOs and even fewer paths to liquidity for all these funded companies. So it's a slaughter, gorefest of back stabbing, survivalism and down right corruption that drives our industry - cause everyone wants to be the next Instagram or Airbnb.This is what happens when making money is more important than making the software itself - and changing the world. And its not a coincidence that the ONLY people you hear THAT kind of hyperbole coming out of our mouths - is those who have been through the VC gauntlet once before - and will NEVER make that mistake - again.Or those who have too much dam cash and now will spend the rest of their lives - giving it away.
1 year, 4 months ago on Sacca: Betrayals at Twitter cut deeper than junior high
@Objectiveli It itself is what is to be learned. As I said earlier - I don't think anyone but Twitter shareholders should even care. But the lessons to be learned are key. BTW this is one of the unspoken truths about not just Silicon valley - but startups in general. Hell - about business in general!How could this possibility NOT be good? Its naivete that is the enemy here. Have you ever heard of someone named Noah Glass? Ever wonder why HE'S not at Twitter anymore?
@Objectiveli Why hide the truth? Is it healthy to only expose young entrepreneurs to unlikely outcomes and "pie-in-the-sky" dreams? What's wrong with a little reality check once in a while?
Let's stay on the key issue being focused on, the "high school" like back stabbing and political nature of execs jockeying for position. Kicking out founders is nothing new, and preserving (or manufacturing) one's reputation is how these execs play the tech press.
So what if Sacca is a bad word knside Twitter? Look at how Twitter had treated its developers, who got them there in the first place? The only people rooting for Twitter nowadays are it's shareholders - as nobody else cares.
And they can't do an IPO cause of Facebook, Zynga and GroupOn. The greed era is over and Twitter got left behind.
Oh well. Good luck with that monetization thing. Maybe Ashton will post some more.