Berkonomics
APRIL 18, 2024
No board member should be grandfathered, guaranteed a board seat forever. Practically speaking, this is an impossible goal. We have investigated the restrictions imposed by investment documents and the obvious need to keep continuity on the board with the retention of the CEO position at the very least. But it would be the best of form to require in the bylaws of a corporation that all seats are re-elected annually.
Startup San Diego
APRIL 12, 2024
The story of Panic Panties is hilarious, real, and very much needed in this modern world. Three friends, Maria-Nicole Marino, Alexandra Tartell, and Katherine Anne Koury, were casually having dinner […] The post How Three Best Friends Launched an On-The-Go Underwear Company in 5000 CVS Stores appeared first on Startup San Diego.
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StartUp Beat
APRIL 16, 2024
Pitbull Ventures, the early-stage venture capital firm founded by prominent investor Brad Zions, today announced the close of its $5M Fund I. The fund, which is looking to fuel the growth of pioneering startups in the region and take LA’s tech scene to new heights, invests in pre-seed AI-enabled vertical SAAS startups with early traction. Founder […] The post Pitbull Ventures Closes $5M Fund To Help The Next Generation of Vertical SAAS Companies appeared first on StartUp Beat.
Berkonomics
APRIL 11, 2024
Picking up where we left off… In my last insight, I described the CEO who stacked the board with two friends, making a majority for control purposes and relegating the investor representatives to insignificance. There were no outside board members with industry experience, no members the CEO trusted with governance backgrounds, no scientists to evaluate the technology that is the core asset of the corporation.
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Berkonomics
APRIL 4, 2024
Start-ups with one founder rarely have or need a board of directors. In fact, such a board would seem out of place in a one-person company. As soon as any outside money is ingested into the corporation, others have a vested and legal interest in the behavior of officers entrusted with the best use of funds. Money from friends and family usually is offered in a casual manner with much less restriction than professional investors, so that a formal board is a logical step but not often created
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