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--- Kelley wrote:
> Do you think VC money is involved here? If so, nope.
It doesn't matter whether it's VC-funded or self-funded. If you
have 10 million dollars and you invest 8 million in your
company, what are you risking? 8 million dollars of course, but
you are NOT risking your financial security. Because you will
(probably) be paying yourself a nice salary and perks, and you
still have 2 million in the bank after you have laid off the
last employee. But most employees really are risking their basic
financial security.
Plus, many of these execs sit on multiple boards and have
multiple income streams, which they will not permit their
employees to have because "moonlighting" shows "lack of
commitment" unless of course you are the boss. Failure of any
one company is generally not disastrous at all for the OFBEC.
The point is that people at the top are incentivized by money
completely differently from regular employees, and the
difference in incentive creates a profound difference in
perspective and ultimately in behavior. For employees, the
incentive is "Can I pay the mortgage next month?" while for the
OFBEC, the incentive is "Will I obtain a large pile of money, or
a smaller pile of money?"
Of course, I'm not including the committed small-company execs
who are willing to remortgage their homes to finance their
company througout its death spiral. These people ARE risking
everything.
Mike O.
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