On: "Three Things You Must Have"

[waxman]

These "must haves" will be challenged by the rise of super angels, who typically don't demand board seats, nor the same types of liquidation preferences.

I think the board seat requirement, in particular, will be rendered obsolete soon. But then again, the whole VC industry might be obsolete soon.

[fredwilson → waxman]

that is clearly a risk, but ..

i'll bet ten years from now these are still must haves and the current crop of "super angels" will be crusty old VCs just like me demanding them