On: VCs Are Not Your Friends

[redthrowaway]

As founder and CEO, the point at which you call it quits should be the point at which the company officially declares bankruptcy. That's your duty as CEO.

[priv_acy → redthrowaway]

Is it? I thought it was to maximize the value to your shareholders.

[redthrowaway → priv_acy]

And when it becomes clear that that's no longer a viable option, your job is to take care of bankruptcy, etc. You don't just jump ship.