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by trfhuhg 2213 days ago
Often, the driving force of such moves is not the founders, but investors: the company accepted a generous investment in past and had to sign a contract where the investor may wind up the company if the returns are low. In other words, it could be that Ammon was given a choice: triple profits by end of year or sell his share.

Regarding your question. Mistakes and apologies are words from the lexicon of normal emotional people. Companies, on the other hand, are soulless profit driven maniacs and their lexicon has words justifiable, plausible and profitable. When a company gives an apology, it's because it deems this combination of words the most efficient way to influence its user base and minimize damage (to profits) just done. People who run companies usually embrace this mindset if they want to get rich.
1 comments
solidasparagus 2213 days ago
> it could be that Ammon was given a choice: triple profits by end of year or sell his share

That seems unbelievably unlikely.

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thenaturalist 2212 days ago
Pardon my ignorance, but what insight or experience leads you to this conclusion?

Venture capital is quite the opposite of passive investing. I guess everyone on here is well aware investors are not doing it for fun but first and foremost for protecting and, ideally, multiplying their assets.

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solidasparagus 2212 days ago
I doubt many VCs would see swapping out a founder as improving the outlook of the company, particularly when the issue is the general macroeconomic situation rather than an issue with the founder. Founders are a huge part of the valuation of a company - they've spent years learning their market and how to build/run their company. Once a company hits a certain size, you'll see professional CEOs brought on sometimes, but I would think Triplebyte is too small for that. At ~30 people would the company even survive founders being replaced by VCs?

VCs also like to be able to attract the best founders by being 'founder-friendly' and replacing a founder hurts that image. Starting a company is hard enough - you don't really want investors who add to the pressure.

From what I've heard, COVID seems to have stopped new investments (outside of companies that have gotten a boost from COVID) so that VCs can focus on their existing portfolios.

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renewiltord 2212 days ago
Are you in a position where you have been offered this? No founder I know has.
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