@Sammy: thanks for sharing. On Fri, Nov 20, 2015 at 6:58 AM, Okechukwu via skunkworks < skunkworks@lists.my.co.ke> wrote:
@Sammy - Thanks for the unbiased look at the situation, I totally agree with you. I believe there is still a lot we need to know about this story.
./Ok3ch
On Fri, Nov 20, 2015 at 6:27 AM, Sammy Njoroge via skunkworks < skunkworks@lists.my.co.ke> wrote:
Board room / founder coups within startups are common. Investors will always insist on control of the board to keep the business in check. They are in it for the business/money.
When it is said they invest in a person it is not because of what they've done rather what they can do.
Despite founders coming up with the idea it does not imply they are best placed to lead the business (they may gain business experience later).
Simply put Rolls Royce, Google, Apple, PayPal, Cisco, yahoo, BlackBerry have gone through a similar thing. Some amicably and some as coups. Even Facebook and twitter had co-founder coups.
The way I look at it is if Musk wasn't kicked out of X.com and Peter Thiel put in control he'd probably have run it to the ground and we wouldn't have PayPal, space X, Tesla and Solar city. He went on to oust Tesla's founder and grow the company
Even Apple would probably have gone broke with steve jobs at the helm back in 1984.
Some good reads - https://hbr.org/2008/02/the-founders-dilemma
http://techcrunch.com/2010/12/31/how-to-avoid-getting-fired-from-your-own-co...
http://www.folklore.org/StoryView.py?project=Macintosh&story=The_End_Of_An_E...
If you call this greed how about reading up on preferred shares that have a liquidation preference :) I hope the founders at Angani had done their homework.
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