Evan Williams at Blogger and Odeo (FD, Monday, Week 9)

Raising money from professional investors: entrepreneurs never ask about VC firm's internal dynamics, status of the fund (mostly invested? mostly not?). Due diligence is a two-way street; figure these things out.

Rich vs. King = Value Add vs. Control
There is not an "answer" but there is extensive evidence that it is an either/or decision.

Odeo => Williams structures "rich" company (gives up CEO control, gives up board control to outsiders, takes professional money, hires selectively) BUT still wants to be king. Ugly results; buys out investors.

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