> Mark my words, the board members from the VC firms will be removed by the VC partners
I have never, ever, seen this. Every firm has its own internal politics [1] but rarely if ever would they do this. They are more likely to just ignore it.
There is a belief that it takes a decade to tell if a VC is any good or not, and that includes "learning experiences" (all on the LP's dime of course).
> Then VC firms will put an experienced CEO and CTO in place
Now this I have seen. It even works sometimes (e.g. Eric Schmidt/Google).
[1] I have had a firm invest in which all decisions were made by a single partner. I also had a firm invest (a sizable sum!) in which other senior partners never met me and only learned what my company even did when I gave a presentation at one of their LP meetings. Also some very large funds allow senior partners to make small seed investments ("science projects") without formal approval from the partnership.
I have never, ever, seen this. Every firm has its own internal politics [1] but rarely if ever would they do this. They are more likely to just ignore it.
There is a belief that it takes a decade to tell if a VC is any good or not, and that includes "learning experiences" (all on the LP's dime of course).
> Then VC firms will put an experienced CEO and CTO in place
Now this I have seen. It even works sometimes (e.g. Eric Schmidt/Google).
[1] I have had a firm invest in which all decisions were made by a single partner. I also had a firm invest (a sizable sum!) in which other senior partners never met me and only learned what my company even did when I gave a presentation at one of their LP meetings. Also some very large funds allow senior partners to make small seed investments ("science projects") without formal approval from the partnership.