The Check That Cost Him His Company

Founder that I know starts a company, goes out the traditional manner, raises the money in Silicon Valley.

Is so hungry for that first check. Does anybody remember being really hungry? And you'll take whatever check somebody shows up with? Yeah. Those checks have consequences. That's why we have a story of Rumpelstiltskin. Right. They come with, they get you at that point. So he starts this company, has a great idea, it's a big market, he's growing fast. He's taking on more capital. More capital, more capital. And at one point, he recognizes that he doesn't actually own the company. He's only in name.

The people that have given him the capital have basically got truly golden handcuffs on him. And no matter when he exits, where he exits, he's never going to get paid.