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who cares what they want? If they put in the money as a minority shareholder, their options are to follow the CEO or try to change his/her mind.

Note: they're very good at the latter.



To elaborate on this point: if your current VCs aren't able to change your mind, and they get angry as a result, just their absence alone from future funding rounds will make it nearly impossible to get other investors interested. So they basically have you by a chain.


Or exercise their Board powers and fire the CEO when push comes to shove.

Nobody spends millions of dollars on something to make themselves powerless in it.


That's what the parent poster is getting at. In SV, most founding teams retain control after a seed financing, and many continue to retain control after a Series A.




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