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Venture boards govern badly because a VC director's interest in winning the next deal outweighs their interest in this company.
Drawn from what Bill Ackman said
Mental modelIncentives
What Bill Ackman actually said
- Bill Ackman Founder and chief executive of Pershing Square Capital Management
And oftentimes it's more important to them to have the public perception that they're good directors so they get the next best deal. If they have a reputation for taking on management too aggressively, word will get out in the small community of founders and they'll miss the next Google.
Added to korrents 7 Sept 2026 · How quotes work · Something wrong? Tell us
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