[karmajunkie]

You really don't have much leverage here unless you're also on the board or have an unusual pull with the board.

I've been in this situation a couple of times. In both situations the board ended up replacing the founder. The first time, the entire investment team and board were what I think of as "vanity VC"—basically a group of angels who knew each other, and while they were all good at their day jobs, they were just as bad at running the company through their replacement as the founder was, and the company, while still around the company is basically treading water.

In the second situation I joined a startup and its founder CEO was replaced about a year after I got there. At first we were all pretty on edge over this, but overall I think it was a good move—the investors are legit, and the replacement CEO is experienced, with a couple of exits in the sector under their belt. I believe this one is going to have a good ending.

Bottom line, the only leverage you've got is your time and where you spend it. If you believe in the mission but not the founder, your best bet is to find another company in the same vertical and spend your time there... but vet the management team carefully! (as always...)