4.8 • 1.5K Ratings
🗓️ 12 October 2023
⏱️ 50 minutes
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Entrepreneur Elizabeth Zalman and investor Jerry Neumann examine the often-difficult relationship between company founders and venture capitalists, and discuss how to avoid the spectacular disagreements experienced by Sandy Lerner.
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0:00.0 | It's 1988 in the headquarters of Sequoia Capital in Menlo Park, California. |
0:22.6 | Sandy Learner sits outside the office of Venture Capitalist Don Valentine. |
0:27.2 | Don is ostensibly Sandy's partner in Cisco Systems, the computer router company Sandy co-founded |
0:32.6 | with her husband, Len Bozak, four years ago. |
0:35.8 | But Don's been ducking Sandy's calls all day, and she has a bone to pick with him. |
0:40.8 | So she's driven over from the Cisco office just a few miles away, and is now waiting for |
0:44.9 | him to see her. |
0:46.3 | Don's assistant has warned her that he's booked up with appointments, but Sandy is willing |
0:50.4 | to wait as long as it takes. |
0:52.4 | Finally, the door to the office opens, and Don sticks his head out. |
0:56.5 | Now come on in Sandy, I'm expecting a call, but I have a few minutes. |
1:00.5 | Sandy pops up and hurries into Don's office. |
1:03.4 | She's not going to waste a precious second. |
1:05.5 | Well Don, imagine my surprise today when I arrived at the office and learned that you fired |
1:09.4 | our CFO. |
1:10.4 | I assume John would have told you. |
1:13.3 | John Mortgage is Cisco's CEO and a close ally of Don. |
1:17.4 | Sandy's face crinkles and disgust at the mere mention of his name. |
1:21.0 | No John didn't say a word, but I know it was you who made the decision. |
1:25.6 | When our CFO was great, we don't need a new one. |
1:28.6 | When I invested Sandy, one of the things I said I would do was bring in new executives. |
1:33.3 | I thought you meant additional executives, not pushing out the ones we already had. |
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