from Hacker News

The douchiest thing(s) a VC has ever done to an enterpreneur

by esthermun on 5/1/16, 3:11 PM with 2 comments

Curious if people have stories they are willing to share. I've worked in startups for 15 years and have founded 2 companies. Here's what I have seen:

- Backing out of a handshake deal at the last min

- Forcing founder to sell so they can realize gains because they are going to be raising a new fund.

- An investor telling his new portfolio co. he just invested in that it was ok to poach from us.

  • by wayneotau on 5/1/16, 3:37 PM

    These are all fairly standard VC behaviors frankly. If you didn't do enough diligence on him/her before, then it's your fault. Sorry to be blunt. The best advice I have heard is "VCs are like your Colombian drug suppliers in Scarface. Act accordingly". I have heard worst behaviors where it's more along the side of self-dealing, where if other investors wanted to sue, they have ground to.

    This is why if people are wrong to celebrate raising VC money. Celebrate when you actually bootstrap the startup.

  • by zer00eyz on 5/1/16, 3:20 PM

    - An investor telling his new portfolio co. he just invested in that it was ok to poach from us.

    Really? Don't you remember the big lawsuit a short time ago when apple/adobe and others had a no poach agreement? Collusion at any level is bad.

    If you can't pay your employees enough, or they don't believe in your product and want to work somewhere else, thats something YOU can fix, and if you can't then you need to re-assess what your doing.