When do startup CEOs get fired? →
Fascinating, counter-intuitive bit from HBS Professor Noam Wasserman: In my data, by the time start-ups raise the third round of financing, 52 percent of founder C.E.O.’s have been replaced. In three-quarters of these situations, the board fired the founder. In the remaining cases – by far the minority – the founder raised his hand and said, “There’s got to be someone better than me to lead us...
Paul Graham's Letter to YC Companies →
My favorite part: The best solution is not to need money. The less you need investor money, (a) the more investors like you, in all markets, and (b) the less you’re harmed by bad markets.
Dealing with failure →
Atul Gawande: So you will take risks, and you will have failures. But it’s what happens afterward that is defining. A failure often does not have to be a failure at all. However, you have to be ready for it—will you admit when things go wrong? Will you take steps to set them right?—because the difference between triumph and defeat, you’ll find, isn’t about willingness to take risks. It’s about...