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Founder Control  

Paul Graham's essays are practically required reading for any tech startup founder, so don't be surprised when many of them turn up in this feed! This one is no exception.

A lot of the reason VCs are harsh when negotiating with startups is that they're embarrassed to go back to their partners looking like they got beaten. When they sign a termsheet, they want to be able to brag about the good terms they got. A lot of them don't care that much personally about whether founders keep board control. They just don't want to seem like they had to make concessions. Which means if letting the founders keep control stops being perceived as a concession, it will rapidly become much more common.

More from the library:
Gabriel Weinberg on raising VC money
Motivating your (technical) cofounder
Services vs Product business